USI Announces Completion of Acquisition of Asteelflash
SHANGHAI, Dec. 3, 2020 /PRNewswire/ -- Universal Scientific Industrial (Shanghai) Co., Ltd. ("USI", SSE: 601231), a world-leading company in electronic design, manufacturing services, and modularization solution, is pleased to announce today that it has successfully completed the acquisition (the "Acquisition") of Asteelflash Group ("Asteelflash") through the acquisition of its parent company, Financire AFG S.A.S.
- SHANGHAI, Dec. 3, 2020 /PRNewswire/ -- Universal Scientific Industrial (Shanghai) Co., Ltd. ("USI", SSE: 601231), a world-leading company in electronic design, manufacturing services, and modularization solution, is pleased to announce today that it has successfully completed the acquisition (the "Acquisition") of Asteelflash Group ("Asteelflash") through the acquisition of its parent company, Financire AFG S.A.S.
- USI and Asteelflash will, through two companies' consolidated global footprint and technological capabilities, create more value by targeting new end-market segments and customers.
- "The acquisition of Asteelflash is a critical step for USI to implement the 'modularization, diversification, and globalization' strategy," said Jeffrey Chen, Chairman of USI.
- After closing, I believe that USI and Asteelflash management team will quickly implement the intended synergy plan, including sales, supply chain management and technology collaboration.