W.C. Heraeus sells Heraeus Precision Engineering in Singapore to Jade Technologies Singapore

W.C. Heraeus sells Heraeus Precision Engineering in Singapore to Jade Technologies Singapore

W.C. Heraeus sells Heraeus Precision Engineering in Singapore to Jade Technologies Singapore

Keywords Heraeus, Jade Technologies, Leadframes, Mergers and acquisitions

W.C. Heraeus International GmbH, has sold one of its subsidiaries, the Singapore-based Heraeus Precision Engineering Pte Ltd (HPE), to Jade Technologies Singapore Ltd (JTS).

HPE is a leading supplier of leadframes to the semiconductor industry. The company was incorporated in October 1989 as a joint venture of W.C. Heraeus GmbH and Singapore Technologies Industrial Corporation (STIC). W.C. Heraeus has held 100 per cent of HPE since 1994, in which it had concentrated its entire leadframe business.

With this move, W.C. Heraeus continues its strategy to focus its activities in those areas in the precious and special metals sector, where it can be among the top five companies in the world.

The capital obtained from the sale is to be invested in W.C. Heraeus core business, such as Electronic Materials, Ceramic Colors, Materials Technology, Precious Metal Chemicals and Precious Metal Refining in order to support internal and external growth. In the business sector of Electronic Materials, the areas of bonding wires, circuit materials and sputtering targets will be expanded. In these areas Heraeus holds a strong global market position.

"Heraeus Precision Engineering is a successful company with more than 300 employees and revenues targeted for 2000 of approx. 30 million. It has been profitable for years, but on a stand-alone basis it only had a market share of approx. 1 per cent worldwide", said Andreas Baumann, Managing Director of W.C. Heraeus GmbH & Co. KG and W.C. Heraeus International GmbH, "while the combination of JTS and Heraeus Precision Engineering will create a very powerful global player in the leadframe industry".