US group AVX buys electronics components factory in Timisoara

31 August 2017

US company AVX has taken over an electronics components factory for the car industry in Timisoara, owned by the British group TT Electronics.

The transaction is part of an international deal, in which AVX will pay almost EUR 130 million in cash to acquire TT Electronics group's sensors and control equipment division in the field of transport, reports local Mirsanu.ro.

The factory in Timisoara, with revenues of EUR 40 million, has a share of 15% in the deal. The two parts signed the transaction in July. It will be completed by the end of December.

In total, the transaction includes production facilities in nine countries, including Austria, China and Germany.

The Timisoara plant posted a EUR 0.5 million net loss and had 398 employees last year.

editor@romania-insider.com

Normal

US group AVX buys electronics components factory in Timisoara

31 August 2017

US company AVX has taken over an electronics components factory for the car industry in Timisoara, owned by the British group TT Electronics.

The transaction is part of an international deal, in which AVX will pay almost EUR 130 million in cash to acquire TT Electronics group's sensors and control equipment division in the field of transport, reports local Mirsanu.ro.

The factory in Timisoara, with revenues of EUR 40 million, has a share of 15% in the deal. The two parts signed the transaction in July. It will be completed by the end of December.

In total, the transaction includes production facilities in nine countries, including Austria, China and Germany.

The Timisoara plant posted a EUR 0.5 million net loss and had 398 employees last year.

editor@romania-insider.com

Normal
 

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