Completion of the Adval Tech sale to Phillips-Medisize
In line with its new strategy, the Adval Tech Group is concentrating on mold making and on selected activities in the components business. As communicated on 25 July 2013, the Group sold its business in Mexico (Omni Manufacturing Services S.A. de C.V., Querétaro) and its medical technology activities in China (Adval Tech Medical (Suzhou) Co. Ltd.) to Phillips-Medisize Corporation. Phillips-Medisize will take on the entire workforce of approx. 350 people. The sale does not affect the activities of the Grenchen-based subsidiary Teuscher Kunststofftechnik AG.
Background information about Phillips-Medisize Corp.
Phillips-Medisize is a leading global outsource provider of design and manufacturing services to the medical (medical device, diagnostics, and drug delivery products) and commercial (automotive, consumer, and defense) markets. The company has annual sales of just under $500 million with 75% of the total revenue coming from drug delivery, medical device and diagnostic products. Phillips-Medisize partners with its customers to provide design and development services which accelerate speed to market of innovative products and then work with its customers to deploy advanced automated assembly and quality control technologies which reduce manufacturing cost while improving quality. The company's core advantage is the knowledge of its people to integrate design, molding, and automation to drive low cost and high quality manufacturing solutions. Phillips-Medisize Corporation is headquartered in Hudson, WI and employs over 2,100 people in 12 locations throughout the United States, Europe and China. The company also has design centers in Wisconsin, California, and The Netherlands.
Results for 2013: End of March, 2014
Financial statements conference for financial analysts: April 29, 2014 in Zurich
Financial statements press conference: April 29, 2014 in Zurich
Publication of the annual report 2013: April 29, 2014
General meeting of shareholders 2014: May 22, 2014 in Bern
Adval Tech Gruppe
Adding value through innovations - that's what Adval Tech stands for. As a global technology and process partner Adval Tech focuses on the complementary technologies of metal stamping and forming and plastic injection molding. In selected markets in the automotive, medical technology and consumer goods sectors, Adval Tech is a leading global supplier of series parts, subassemblies, systems and tools. As a value-adding partner, Adval Tech covers the entire value chain: from product design and the development of volume components through design and production of the necessary molds and dies to complete manufacturing systems and the resulting production of components. Adval Tech trades on the markets under the names of AWM, FOBOHA, Omni, QSCH, Styner+Bienz and Teuscher.