Singapore, December 17, 2012 – Schweizer Electronic Singapore Pte. Ltd., a member of the Schweizer Group, and Meiko Elec. Hong Kong Co. Ltd., a member of Meiko Electronics Co., Ltd., plan to found a Joint Venture for the purpose of producing Printed Circuit Boards (PCB) in Hanoi/Vietnam. This Joint Venture will be headquartered in Hong Kong and is planned to be officially set-up in the beginning of 2013. The start of production in Vietnam is scheduled for the third quarter 2013.
Both companies have agreed to build a common production line for the manufacturing of PCBs dedicated to European customers in the automotive and industry segments. It is planned to produce standard PCBs as well as solutions which reduce the overall cost of a system, such as FR4 Flex, and power electronics solutions, like the Inlay Board.
By joining forces, SCHWEIZER and MEIKO build upon their respective market accesses to Europe and Asia, their technology expertise and their production and process know how in order to offer a wide range of products to global customers. Accommodated in MEIKO's Vietnam plant based in Hanoi, the joint production line will benefit from the infrastructure of the existing factory. This facility produces PCBs since 2011 and currently employs about 1,200 people. The production will benefit from the favourable economic conditions that Vietnam offers in comparison to other established Asian countries.
"Following the foundation of our partnership with MEIKO in April 2009, a close and successful cooperation over the past three years and our mutual shareholding, it was a logical step to further build on the valuable experience of two powerful partners", says Dr. Marc Schweizer, designated Vice President of the Joint Venture and CEO of Schweizer Electronic AG. "While SCHWEIZER is a recognized R&D partner in Europe for innovative PCB solutions, particularly for the automotive and industry segments, MEIKO is an established enterprise offering volume production mainly for the automotive and mobile industries. Thus we are convinced that our customers will benefit from this strengthened partnership."