By Leslie D. Venzon
MANILA, July 22 (PNA) — Ayala-led Integrated Micro-Electronics, Inc. (IMI) on Wednesday announced its wholly-owned and indirect subsidiary in Bulgaria (BG) acquired a property in Botevgrad, Bulgaria for 1.14 million Euros.
IMI Bulgaria has executed a transfer of property from Melexis Bulgaria EOOD (MB). The property has a total land area of 16,275 square meters (sqm.) and a total built-up area of 12,193 sqm.
“This new development augurs well for IMI BG. With additional capacity, IMI BG can service more OEM (original equipment manufacturer) requirements, especially in its fast-growing target markets of automotive and industrial electronics,” said IMI president and chief executive officer Arthur Tan.
Tan said IMI BG previously leased the property from MB with an area of 7,293 sqm. as part of its production facilities and 4,900 sqm. leased to a third party.
“The acquisition reinforces IMI BG’s strong position in winning new businesses enhancing IMI’s strategy of providing long lasting partnerships to its customers,” he added.
IMI is one of the leading global providers of electronics manufacturing services (EMS) and power semiconductor assembly and test services with manufacturing facilities in Asia, Europe and North America.
It serves diversified markets that include those in the automotive, industrial, medical, telecommunications infrastructure, storage device, and consumer electronics industries. (PNA