Synova secures U.S. $8.1 million to drive global expansion efforts
August 15--Swiss banks back Synova's worldwide Micromachining Center growth strategy to enable localized customer support and promote adoption of Laser MircoJet technology
August 15--Synova today announced it has closed financing in the amount of U.S. $8.1 million. The company will use the new funds, put up largely by Swiss banks, for the development of micromachining centers (MMCs) located in key high-tech regions around the world, providing local access to customer support and application labs offering on-site product demonstrations.
The new MMCs are designed to fuel the adoption of Synova's Laser MicroJet technology. With more than 50 full-production machines at 30 different customer sites, the company is committed to developing these localized centers to allow quick, highly responsive support for the growing number of global customers employing Laser MicroJet technology. With Synova's technology already qualified in the electronics market, the new financing will allow the company to delve into other industries and application areas.
Last month, Synova announced that its first MMC, located in Silicon Valley, will open in January 2007. For more information, visit www.synova.ch.