09.08.2018
Schweizer Electronic AG DE0005156236
DGAP-News: Schweizer Electronic AG: SCHWEIZER lays cornerstone for new production site in Jintan
DGAP-News: Schweizer Electronic AG / Key word(s): Miscellaneous
Schweizer Electronic AG: SCHWEIZER lays cornerstone for new production site
in Jintan
09.08.2018 / 13:43
The issuer is solely responsible for the content of this announcement.
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SCHWEIZER lays cornerstone for new production site in Jintan
Schramberg, August 09, 2018 - Accompanied by a festive groundbreaking
ceremony and in the presence of the Government of Jintan, Schweizer
Electronic AG laid the cornerstone for its new high technology production
site in Jintan/Jiangsu Province (China) on August 08, 2018.
Covering a production area of in total 90,000 square metres, the new plant
will start operation in 2020 focussing in particular on power electronic and
embedding applications for the automotive sector. After completion of the
construction phase which is scheduled to last 18 months, the set-up of the
new production capacities will be carried out in three ramp-up phases, each
with a capacity of 1,200 square metres PCBs per day. This is equivalent to
the capacity of the Schramberg production site today. The total investment
will amount to 150 million euro over the next ten years to enable group
sales to jump to up to 500 million euro.
In November 2017 SCHWEIZER had signed a corresponding investment agreement
with the Government of Jintan and just one month later founded the new
company Schweizer Electronic Jiangsu (China). The official approvals of the
Chinese Environmental and Construction Authorities have been obtained and
financing of the first two construction phases has already been secured. For
the financing two bank consortia were set up in Germany and China, providing
credit lines of 120 million US dollar.
Schweizer Electronic AG will continue to develop and manufacture high
technology PCBs in its German production site in Schramberg. Using the
additional capacities in Jintan, the company will further exploit the
world-wide market potential for high-power and embedding applications by
providing its customers with innovative, high-quality PCB and embedding
solutions and address the fast-growing Chinese market.
About Schweizer
Schweizer Electronic AG stands for state-of-the-art technology and
consultancy competence. SCHWEIZER's premium printed circuit boards and
innovative solutions and services for automotive, solar, industry and
aviation electronics address key challenges in the areas of Power
Electronics, Embedding and System Cost Reduction. Its products are
distinguished for their superior quality and their energy-saving and
environmentally-friendly features. Together with its partners WUS Printed
Circuit (Kunshan) Co., Ltd., Meiko Electronics Co. Ltd. and Elekonta Marek
GmbH & Co. KG the company offers in its division electronics cost- and
production-optimised solutions for small, medium and large series. Together
with its partner Infineon Technologies AG, SCHWEIZER plans to jointly tap
the chip embedding market in future.
With 797 employees SCHWEIZER achieved sales of 120.9 million euro in Fiscal
Year 2017 (ending December). The company was founded by Christoph Schweizer
in 1849 and is listed at the Stuttgart and Frankfurt Stock Exchanges (ticker
symbol "SCE", "ISIN DE 000515623").
For further information please contact:
Christina Blake
Schweizer Electronic AG
Einsteinstraße 10
78713 Schramberg
Phone: +49 7422 / 512-213
Fax: +49 7422 / 512-777-213
E-mail: [email protected]
Please visit our website: www.morethanPCBs.com
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09.08.2018 Dissemination of a Corporate News, transmitted by DGAP - a
service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
The DGAP Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Archive at www.dgap.de
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Language: English
Company: Schweizer Electronic AG
Einsteinstraße 10
78713 Schramberg
Germany
Phone: 07422-512-301
Fax: 07422-512-397
E-mail: [email protected]
Internet: www.schweizer.ag
ISIN: DE0005156236
WKN: 515623
Listed: Regulated Market in Berlin, Dusseldorf, Frankfurt (General
Standard), Stuttgart; Regulated Unofficial Market in
Tradegate Exchange
End of News DGAP News Service
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