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MANILA, Philippines — Integrated Micro-Electronics, Incorporated (IMI), the electronics arm of Ayala Corporation, spent €1.14 million ($1.25 million) to acquire a property that will expand its manufacturing capacity in Bulgaria.
“IMI announced that its wholly-owned and indirect subsidiary Integrated Micro-electronics Bulgaria EOOD (IMI BG) has executed a transfer of property from Melexis Bulgaria EOOD (MB),” the chipmaker said in a statement on Wednesday, July 22.
The Ayala-led chipmaker bought a 16,275-square meter (sq m) site with a building in Botevgrad, Bulgaria, with a total built-up area of 12,193 sq m.
“This new development augurs well for IMI Bulgaria. With additional capacity, it can service more OEM (original equipment manufacturer) requirements, especially in its fast-growing target markets of automotive and industrial electronics,” IMI President and Chief Executive Officer Arthur Tan said.
Sought for further details, IMI Marketing Head Frederick Blancas said in a mobile phone reply: “IMI Bulgaria has been on expansion mode since 2013. It is among the top companies in Bulgaria in automotive electronics manufacturing.”
“The acquisition reinforces IMI Bulgaria’s strong position in winning new businesses enhancing IMI’s strategy of providing long lasting partnerships to its customers,” Tan added.
The property was previously leased by IMI Bulgaria with an area of 7,293 sq m being used by as production facilities.
IMI Bulgaria earned revenues of $188.3 million in 2014, higher by 29% year-on-year.
It has built 3,150 sq m of production facility from Greenfield in the last two years and another 6,900 sq m of manufacturing space will be completed by end of first quarter 2016.
IMI, in an earlier disclosure, said it ranks 18th, having moved up from its previous rank of 21st, on the latest list of Manufacturing Market Insider for the top 50 electronic manufacturing service (EMS) providers in the world based on the 2014 EMS-related revenues of companies.
Its global presence include operations in 15 manufacturing sites and sales offices across China, the Philippines, Singapore, Bulgaria, the Czech Republic, the United States, and Mexico.
It also has offices in Japan and Germany. – Rappler.com
$1= €0.91
Electronics plant photo from Shutterstock
Bulgaria photo from Shutterstock
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