PR Newswire: news distribution, targeting and monitoring
2014

Flextronics to Expand Medical Capabilities Through Acquisition of RIWISA

Integration of RIWISA's Industry Leading Precision Injection Molding and Automation and Highly-Experienced Employees Will Further Increase Service Offering

Share with Twitter Share with LinkedIn

SAN JOSE, Calif., and HAGGLINGEN, Switzerland, Aug. 28, 2013 /PRNewswire/ -- Today, Flextronics (NASDAQ: FLEX), a leading global supply chain solutions company, and RIWISA AG, a privately held and family-owned, leading provider of high volume, high precision, injection molding and automation solutions based in Switzerland, announced that they have entered into a definitive agreement whereby Flextronics will acquire RIWISA. Upon completion, Flextronics will acquire RIWISA's state-of-the-art manufacturing facilities and highly-experienced employees in medical, consumer packaging and industrial products, which will broaden its precision injection molding 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."

"In the scope of the succession plans, we carefully reviewed several different scenarios. Primary importance was focused on the future of the Company and its employees, the changing customer requirements and increasing globalization of the market," said Gerold Richner, general manager of RIWISA.  "By its sale to Flextronics, with its operations in more than 30 countries and global customer base, RIWISA is given access to the world market, enabling a solid foundation for successful future growth for the employees and the continuation of the Company's industry legacy of more than 67 years."

Peter Richner, president of the board of directors at RIWISA said, "By integrating RIWISA into Flextronics, 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.

About Flextronics

Flextronics International Ltd. (Company Registration No. 199002645H) is a leading end-to-end supply chain solutions company that delivers design, engineering, manufacturing and logistics services to a range of industries and end-markets, including data networking, telecom, enterprise computing and storage, industrial, capital equipment, appliances, automation, medical, automotive, aerospace and defense, energy, mobile, computing and other electronic product categories. Flextronics is an industry leader with $24 billion in sales, generated from helping its customers design, build, ship, and service their products through an unparalleled network of facilities in more than 30 countries and across four continents. Flextronics' service offerings and vertically integrated component technologies optimize customer supply chains by lowering costs, increasing flexibility, and reducing time-to-market. For more information, visit www.flextronics.com or follow us on Twitter @flextronics.

About RIWISA

RIWISA is with its 300 employees – particularly in the medical sector - one of Europe's leading suppliers of the plastics processing industry and has decades of experience and a broad knowledge in precisely customized plastic solutions in the three divisions of Industry, Consumer and Medical. RIWISA is an appreciated partner of many smaller as also global enterprises, which have highest demands on the quality of their suppliers. Further information can be found on: www.riwisa.ch

Flextronics Contacts:

Renee Brotherton

Kevin Kessel

Corporate Communications

Investor Relations

(408) 576-7189

(408) 576-7985

renee.brotherton@flextronics.com

kevin.kessel@flextronics.com  



RIWISA Contacts:

Peter Richner

Gerold Richner

President, Board of Directors

General Manager

+41 56 616 93 93

+41 56 616 93 93

p.richner@riwisa.ch

g.richner@riwisa.ch

SOURCE Flextronics



RELATED LINKS
http://www.flextronics.com
http://www.riwisa.ch

Featured Video

Journalists and Bloggers

Visit PR Newswire for Journalists for releases, photos, ProfNet experts, and customized feeds just for Media.

View and download archived video content distributed by MultiVu on The Digital Center.

Share with Twitter Share with LinkedIn
 

Custom Packages

Browse our custom packages or build your own to meet your unique communications needs.

Start today.

 

 
 

PR Newswire Membership

Fill out a PR Newswire membership form or contact us at (888) 776-0942.

 
 

Learn about PR Newswire services

Request more information about PR Newswire products and services or call us at (888) 776-0942.

 
Area to test

Online Member Center

Not a Member?
Click Here to Join
Login
Search News Releases
Advanced Search
Search
  1. PR Newswire Services
  2. Knowledge Center
  3. Browse News Releases
  4. Contact PR Newswire
  5. Send a News Release