IMI Acquires Property in Bulgaria

Laguna—(PHStocks)—Integrated Micro-Electronics Inc. (PSE: IMI), one of the leading worldwide providers of electronics manufacturing services (EMS) and power semiconductor assembly and test services, 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 transaction involved IMI BG’s acquisition of a parcel of land and the building situated in Botevgrad, Bulgaria for €1.14 million. The property has a total land area of 16,275sqm and a total built-up area of 12,193sqm.

IMI president and chief executive officer Arthur Tan said, “This new development augurs well for IMI BG. With additional capacity, IMI BG can service more OEM requirements, especially in its fast-growing target markets of automotive and industrial electronics.”

The property was previously leased by IMI BG from MB with an area of 7,293sqm being used by IMI BG as part of its production facilities and 4,900sqm leased to a third party.

Tan added, “The acquisition reinforces IMI BG’s strong position in winning new businesses enhancing IMI’s strategy of providing long lasting partnerships to its customers.”

IMI BG generated revenues of $188.3 million in 2014, higher by 29% year-on-year. It has built 3,150 sqm. from greenfield in the last two years and another 6,900sqm will be completed by end of the first quarter of 2016.

IMI earlier reported that it now ranks 18th, having moved up from its previous rank of 21st, on the latest list of Manufacturing Market Insider for the top 50 EMS providers in the world based on the 2014 EMS-related revenues of companies.

MB is one of the world’s leading manufacturers of fully protected microcontrollers with sensor compatible interfaces.

IMI is a subsidiary of conglomerate Ayala Corp. (PSE: AC).