By becoming the majority shareholder (63%) in Cencorp Oyj., Savcor Group Oy intends to structurally renew, refinance, and recreate Cencorp as a highly significant company specializing in automation and laser solutions for the electronics industry.
Headquartered in Lohja, Finland, Cencorp is a provider of end-of-line automation assembly solutions for the global electronics industry. Its customers are manufacturers of automotive, telecommunications, and industrial electronics products as well as EMS providers.
As part of this transaction, Cencorp acquired the entire share capital of Savcor's indirectly owned company Savcor Alfa Oy, a leading provider of workstations and production cells based on laser technology for laser marking, cutting, and welding and laser micromachining applications, headquartered in Mikkeli, Finland.
"The combining of these businesses will enable Cencorp to offer more versatile and effective automation and laser solutions due to the considerable synergies and complementary areas of strength. Cencorp has excellent test and routing and automation solutions together with technical expertise and support, whilst Savcor Alfa has strong laser capabilities and expertise in laser materials processing. This acquisition and consolidation will allow Cencorp to provide more extensive laser and production automation solutions to a wider industry and provide the business with the strong business leadership and financial strength that comes with being part of the Savcor Group," comments Hannu Savisalo, CEO, Savcor Group Oy.