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(April 25, 2008) SIEVI, Finland — In a move seen increasingly in the EMS space, the board of directors at Scanfil will carry out a split of the contract manufacturer's business, with transfers to an investment company and a sub-concern engaged in the contract manufacturing business. With the new strategy, Scanfil plc's electronics contract manufacturing business will be turned into a sub-concern, Scanfil EMS Oy, owned by Scanfil.
The electronics contract manufacturing business will be developed as a Nordic operator, with the objective of restructuring to enhance the company's global market position. "The Scanfil EMS Oy concern created by the business transfer is a competitive and profitable company in its own sector," according to Scanfil representatives. Scanfil plc will remain the parent company and will act as the owner in other business areas, too.
The split was approved unanimously at the manufacturer's annual general meeting. Planned implementation will begin in May 2008. Scanfil plc has organized its logistics from material sourcing to delivery of finished products into a flexible and cost-effective chain, said company representatives. Scanfil plc will focus on its ownership role in contract manufacturing and other, new sectors. The aim is to invest the company assets profitably in selected companies that operate in the chosen sectors. Scanfil will strive to acquire an ownership share, which will allow it to have a say in the operations of the selected companies. In addition, the company can own shares and invest assets in other targets.
In 2007, EMS providers Elcoteq and BenQ also split EMS services from the main company to form more independently operated units. For more details on the business restructuring efforts, read EMS Diversification in the News section of our June 2007 issue. For more on Nam Tai's restructuring endeavor, read Nam Tai to Restructure and the editorial analysis Birds of a Feather.
To learn more about the move, see www.scanfil.com.
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