Siemens Unloads Electronics Assembly Systems Unit to ASM Pacific

July 29, 2010
No longer considered a core business for Siemens, ASM Pacific plans to expand product portfolio.

Europes largest engineering company, Siemens AG, announced that its selling its electronics assembly systems division to a subsidiary of Dutch semiconductor equipment manufacturer ASM International NV.

The electronics assembly systems unit, which consists of 1,200 employees, is one of the worlds largest suppliers of surface assembly systems for the electronics industry. But according to a statement from the Munich-based company, it is no longer a core business for Siemens.

Hong Kong-based ASM Pacific Technologies Ltd. will pay 1 euro for the unit while Siemens will be required to provide 29 million euros as a non-refundable cash-payment, according to a filing to the Hong Kong stock exchange.

ASM Pacific says it will expand its product portfolio by breaking into surface mount technology equipment.

ASM Pacific also added that it will integrate the electronics assembly business into the company as a separate unit and has also agreed that Munich, Germany, is to remain the central location for production, testing and research.

Siemens Electronics Assembly Systems had 190.7 million euros in sales for the fiscal year ending Sept. 30, 2009, and a net loss of 151.7 million euros, according ASM Pacific Technologies statement.

Popular Sponsored Recommendations

Empowering the Modern Workforce: The Power of Connected Worker Technologies

March 1, 2024
Explore real-world strategies to boost worker safety, collaboration, training, and productivity in manufacturing. Emphasizing Industry 4.0, we'll discuss digitalization and automation...

How Organizations Connect and Engage with Frontline Workers

June 14, 2023
Nearly 80% of the 2.7 billion workers across manufacturing, construction, healthcare, transportation, agriculture, hospitality, and education are frontline. Learn best practices...

Transformative Capabilities for XaaS Models in Manufacturing

Feb. 14, 2024
The manufacturing sector is undergoing a pivotal shift toward "servitization," or enhancing product offerings with services and embracing a subscription model. This transition...

Shifting Your Business from Products to Service-Based Business Models: Generating Predictable Revenues

Oct. 27, 2023
Executive summary on a recent IndustryWeek-hosted webinar sponsored by SAP

Voice your opinion!

To join the conversation, and become an exclusive member of IndustryWeek, create an account today!