Last checked at 16 May 2022 07:00
16 May 2022
Volex plc("Volex" or the "Company")
Completion of inYantra acquisition
Volex plc (AIM:VLX), the global supplier of integrated manufacturing services and power products, confirms the completion of the acquisition of inYantra Technologies Pvt Ltd ("inYantra") following the conclusion of the purchase of industrial land and operational buildings at the inYantra site in Pune, India (the "Property Purchase") for $5.0 million.
The Property Purchase follows the completion, on 30 March 2022, of a 51% equity investment in inYantra for $8.0 million.
Nat Rothschild, Executive Chairman of Volex, commented:
"The completion of our acquisition of inYantra, provides an excellent strategic opportunity to expand our global footprint, which is consistent with our strategy, and will bring new and strengthened capabilities in the key Indian market."
About inYantra
inYantra specialises in the assembly of printed circuit boards and box builds. It operates from a single site in Pune, Maharashtra, India, with around 500 employees and occupies approximately 3.5 acres of the 13.5 acres site being acquired via the Property Purchase. The business was founded in 2002 with strong customer relationships in automotive, consumer and industrial automation both domestically and overseas.
For further information please contact:
Volex plc +44 (0) 7971 156 431Nat Rothschild, Executive ChairmanJon Boaden, Chief Financial OfficerChristian Bedford, Group General Counsel and Company Secretary
Julian Wais, Head of Investor Relations ( investor.relations@volex.com)
Singer Capital Markets - Nominated Adviser & Joint Broker +44 (0)20 7496 3000Shaun DobsonGeorge Tzimas
HSBC Bank plc - Joint Broker +44 (0)20 7991 8888Simon Alexander Joe Weaving
Powerscourt - Media Enquiries +44 (0)20 7250 1446James White Ollie Head
About Volex
Volex plc (AIM:VLX) is a global leader in integrated manufacturing for performance-critical applications and a supplier of power products. We serve a diverse range of markets and customers, with particular expertise in cable assemblies, higher-level assemblies, data centre power and connectivity, electric vehicles, and consumer electricals. We are headquartered in the UK and operate from 20 manufacturing locations with a global workforce of over 6,900 employees across 22 countries. Our products are sold through our own locally based sales teams and through authorised distributor partners to Original Equipment Manufacturers ('OEMs') and Electronic Manufacturing Services ('EMS') companies worldwide. All of the products and services that we offer are integral to the increasingly complex digital world in which we live, providing power and connectivity from the most common household items to the most complex medical equipment. For more information, please visit www.volex.com
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