Beyonics to buy PCBA in Batam

Beyonics to buy PCBA in Batam

SINGAPORE (AFX-ASIA): Beyonics Technology Ltd, formerly Uraco Holdings Ltd, said it has agreed to buy Seagate's printed circuit board assembly (PCBA) operations in Batam, Indonesia.

As part of the agreement, Beyonics will supply Seagate with PCBAs and provide warranty repair services for the products. No details of the consideration involved in the transaction were given.

Beyonics chief executive officer Goh Chan Peng said the acquisition would enable the company to offer lowest possible operational costs for existing and new customers by using the low cost manufacturing facility.

"With this strategic arrangement, Beyonics' revenue is expected to be more then doubled in fiscal year 2002," Goh said.

He added that the acquisition was in line with the group's strategy to enter into strategic partnerships in order to build the critical mass required for Beyonics' manufacturing operations to compete on the world stage.