EQS-News: AT&S announces the successful signing of the transaction related to the plant in Ansan / South Korea

EQS-News: AT&S Austria Technologie & Systemtechnik AG / Key word(s):
Disposal
AT&S announces the successful signing of the transaction related to the
plant in Ansan / South Korea

23.09.2024 / 17:31 CET/CEST
The issuer is solely responsible for the content of this announcement.

══════════════════════════════════════════════════════════════════════════

 

 

AT&S announces the successful signing of the transaction related to the
plant in Ansan / South Korea

 

On September 23, 2024, AT&S and the Italian company SO.MA.CI.S. S.p.A.
signed an agreement for the sale of AT&S Korea CO., LTD. and thus the AT&S
plant in Ansan, South Korea. The purchase price (equity value) amounts to
approximately EUR 405 million.

 

 

Leoben, September 23, 2024 – “With the sale of the plant in Ansan we aim
to further sharpen the Group’s strategic profile,” says AT&S CFO Petra
Preining. “We strongly believe that with the Italian technology group
Somacis as its new owner, the Ansan site will unleash its full potential
and continue pursuing an attractive journey of strong growth.”

 

Success story in South Korea

 

“Ansan is an AT&S success story,” says CEO Andreas Gerstenmayer. “When
AT&S acquired the plant in 2006, all revenue was generated locally, and
its performance was far below the expectations of AT&S. The development of
new applications, strong investment in technology and capabilities, as
well as the strong commitment of the responsible team resulted in strong
revenue growth and a significant improvement in performance. Within only a
few years, revenue quadrupled.”

 

The Ansan plant notably focuses on the production of flexible circuit
boards for electronic systems across industries, in nearly any form
factor.

 

“As flexible microelectronic applications are growing and will open up
entirely new technological opportunities in the years to come, we were
looking for a buyer who recognizes the full potential and that will
purposefully lead the organization into the future”, says Peter Schneider,
Member of the Board and EVP of AT&S’s Business Unit Electronics Solutions.

 

“We were highly impressed with the management team and technological
capabilities of the Ansan plant and are very excited about its future
potential. We plan to continue to serve its existing customer base with
the highest reliability and strong technological competencies that Ansan
is currently well-known for, while at the same time maintaining its proven
track record of growth through strong additional investments in its
existing team and technical capabilities”, adds Giovanni Tridenti, CEO of
Somacis.

 

The transaction is currently subject to regulatory approval and is
expected to be completed in the next few months.

 

AT & S Austria Technologie & Systemtechnik Aktiengesellschaft – Advanced
Technologies & Solutions

AT&S is a leading global manufacturer of high-end IC substrates and
printed circuit boards. AT&S industrializes leading-edge technologies for
its core business segments Mobile Devices & Substrates, Automotive &
Aerospace, Industrial and Medical and high-performance computing for AI
applications. AT&S currently has a global presence with production sites
in Austria (Leoben, Fehring) and plants in India (Nanjangud), China
(Shanghai, Chongqing) and Korea (Ansan near Seoul). A new high-end
production site for IC substrates is currently being established in
Malaysia (Kulim). In Leoben, a European competence center including series
production for IC substrate technologies is being built. Both sites will
start production in the financial year 2024/25. The company employs more
than 13,500 people. For further information please visit [1] www.ats.net

 

Media contact:

Gerald Reischl, Vice President Corporate Communications
Tel: +43 3842 200 4252; Mobile: +43 664 8859 2452; [2]g.reischl@ats.net

 

Investor Relations contact:

Philipp Gebhardt, Vice President Investor Relations
Tel: +43 3842 200 2274; Mobile: +43 664 7800 2274; [3]p.gebhardt@ats.net

 

AT & S Austria Technologie & Systemtechnik Aktiengesellschaft
Fabriksgasse 13
8700 Leoben / Austria
[4] www.ats.net

 

 

══════════════════════════════════════════════════════════════════════════

23.09.2024 CET/CEST This Corporate News was distributed by EQS Group AG.
www.eqs.com

══════════════════════════════════════════════════════════════════════════

Language: English
Company: AT&S Austria Technologie & Systemtechnik AG
Fabriksgasse 13
8700 Leoben
Austria
Phone: +43 (1) 3842200-0
E-mail: ir@ats.net
Internet: www.ats.net
ISIN: AT0000969985, AT0000A09S02
WKN: 922230
Indices: ATX
Listed: Regulated Unofficial Market in Berlin, Dusseldorf, Frankfurt,
Hamburg, Hanover, Munich, Stuttgart, Tradegate Exchange;
Vienna Stock Exchange (Official Market)
EQS News ID: 1993743

 
End of News EQS News Service

1993743  23.09.2024 CET/CEST

References

Visible links
1. https://eqs-cockpit.com/cgi-bin/fncls.ssp?fn=redirect&url=0f51707980ec28aa6913e5887cb44c51&application_id=1993743&site_id=apa_ots_austria~~~18b544d0-9c71-4160-bd95-cc8b9aff9fbf&application_name=news
2. g.reischl@ats.net
3. p.gebhardt@ats.net
4. https://eqs-cockpit.com/cgi-bin/fncls.ssp?fn=redirect&url=0f51707980ec28aa6913e5887cb44c51&application_id=1993743&site_id=apa_ots_austria~~~18b544d0-9c71-4160-bd95-cc8b9aff9fbf&application_name=news