Californian headquartered Flextronics has announced the Acquisition of the Swiss family owned RIWISA AG. In a statement issued this morning Flextronics (NASDAQ: FLEX), a leading global supply chain solutions company, announced the acquisition of RIWISA AG, a privately held and family-owned provider of injection moulding and automation solutions based in Switzerland.
The companies have entered into a definitive agreement whereby Flextronics will acquire RIWISA. Upon completion, Flextronics will acquire RIWISA's manufacturing facilities and employees in medical, consumer packaging and industrial products, which it says will broaden its precision injection moulding and high-speed automation offerings.
"The addition of RIWISA's precision plastics and automation capabilities to Flextronics Medical is a tremendous complement to the broad range of healthcare solutions we can offer our customers globally and underscores the strategic commitment we have made to expand our services in this market," said Mark Kemp, President of Flextronics Medical. "We are very excited about today's announcement and look forward to creating a European Center of Excellence for precision plastics in Switzerland and adding RIWISA's highly talented team to the Flextronics family."
Peter Richner, President of the board of directors at RIWISA said: "By integrating RIWISA intoFlextronics, we believe we will create the best outcome for a successful future of the Company and its employees in Switzerland. Thanks to the proven expertise of our three business units: Medical, Consumer Packaging and Industrial and Flextronics' global presence, we will be able to meet our changing customer needs and global requirements to further strengthen the Hagglingen site."
Completion of the transaction, which is subject to certain closing conditions, including regulatory approvals, is expected to take place by the end of October. Additional terms of the deal were not disclosed.
On the day the announcement was made, Medical Plastics News editor Sam Anson was visiting the RIWISA facility as part of a tour of leading Swiss medical plastic companies.
Commenting on the announcement, Sam said: "RIWISA's plant is one of the most advanced facilities I've seen in terms of automation and lot control. Highly advanced processes and know how of manufacturing for laboratory disposables and drug delivery devices confirmed to me RIWISA's reputation for excellence.