Cicor completes the takeover of Phoenix Mecano Digital Elektronik and Phoenix Mecano Digital Tunisie » InvestorsPlus

Bronschhofen, January 23, 2023- The Cicor Group (SIX Swiss Exchange: CICN) announces today that the acquisition announced on November 15, 2022 of 100% of the shares in Phoenix Mecano Digital Elektronik GmbH (PMDE) with two locations in Thuringia (Germany) and Phoenix Mecano Digital Tunisie Sarl from Borj-Cedria (Tunisia).

The locations taken over from Phoenix Mecano AG (SIX Swiss Exchange: PM) have an excellent customer base, which includes some leading European companies in Cicor’s target market of medical technology. The three locations achieved total sales of more than EUR 30 million in the 2022 financial year and are also expecting significant growth in 2023. The EBITDA margin is expected to be at a level comparable to that of the Cicor Group.

As a result of the takeover, the customers of the Phoenix Mecano locations will have access to the extensive range of competencies in the areas of development, production and supply chain management, the global presence and synergies in material procurement. Cicor will benefit from the location in Tunisia, which is very attractive due to its geographical proximity, the availability of employees and the competitive cost structures.

The German locations are merged into the organizational unit “Cicor Germany” integrated into the Electronic Manufacturing Services (EMS) Division. The Tunisian site will also become part of the EMS Division’s global production network.

The Cicor Group is a global provider of complete electronic solutions, from research and development to production and supply chain management. With around 2,500 employees at 15 locations, Cicor serves leading companies in the medical, industrial and aerospace & defense sectors. By combining customer-specific development solutions, high-tech components and the manufacture of electronic devices, Cicor creates added value for its customers. The shares of Cicor Technologies Ltd. are traded on the SIX Swiss Exchange (CICN). For more information, please visit www.cicor.com.