Ennoconn Announces Definitive Agreement to Acquire NCR Budapest Manufacturing Facility
December 13, 2021 | GlobeNewswireEstimated reading time: Less than a minute
Ennoconn Corporation, a global leader in integrated cloud management services, Industrial IoT and embedded technology, announced a definitive agreement to acquire NCR’s Budapest manufacturing facility, including physical assets, personnel, and the transfer of manufacturing responsibilities.
This transaction allows Ennoconn Corporation, a financial subsidiary of Foxconn, to significantly expand their footprint in Europe by acquiring NCR’s World Class manufacturing, integration and assembly operations in Budapest. Ennoconn plans to continue to produce ATM, self-checkout (SCO) and point of sale (POS) solutions for NCR’s European Banking and Retail customer demand.
“Ennoconn will utilize this facility and additional resources to advance manufacturing systems, Digital Transformation strategic initiatives - driving the creation of new products, services, and industrial manufacturing methodologies for its international customer base in core industries, including among others, Smart Cities, Smart Manufacturing, Smart Retail, Financial Services and Media & Entertainment,” said Steve Chu, CEO and Chairman of Ennoconn. “Ennoconn also sees exponential demand for AIOT, IOT integrated cloud services applications in Smart Logistics and Warehousing and Smart Factories.”
The transaction is expected to close in mid-2022. Financial terms of the transaction were not disclosed.
Suggested Items
STMicroelectronics to Build First Fully Integrated Silicon Carbide Facility In Italy
05/31/2024 | STMicroelectronicsSTMicroelectronics, a global semiconductor leader serving customers across the spectrum of electronics applications, announces a new highvolume 200mm silicon carbide (“SiC”) manufacturing facility for power devices and modules, as well as test and packaging, to be built in Catania, Italy.
EOS Brings IPC Standards to South Korea
05/31/2024 | Tina Choi, IPC AsiaWe are well aware of the saying, “There are no borders in the world economy.” To grow, a company must think about establishing a global customer base, no matter how small the product. So, the product must be manufactured according to a common global standard. In electronics manufacturing, one South Korean company learned that IPC standards should be applied immediately.
SIA Applauds CHIPS Act Incentives for Absolics Project in Georgia
05/30/2024 | SIAThe Semiconductor Industry Association (SIA) released the following statement from SIA President and CEO John Neuffer applauding semiconductor manufacturing incentives announced by the U.S. Commerce Department and Absolics, an affiliate of the Korea-based SKC.
SEACOMP Opens New Electronics Manufacturing Facility in Tijuana, Mexico
05/30/2024 | PRWEBSEACOMP, a USA-based electronics manufacturing services provider, has recently opened a new manufacturing facility in Tijuana, Mexico. This impressive 60,000 sq. ft. facility is just an hour south of SEACOMP's Carlsbad headquarters.
Sunshine PCB (Penang) Unveils Major Expansion Initiatives to Propel Growth and Innovation
05/30/2024 | Sunshine Global CircuitsSunshine Global Circuits (SGC) is renowned as a premier manufacturer of high-quality and cutting-edge PCBs. Specializing in a diverse range of requirements from high mix to low to high volumes and quick-turn prototypes, SGC boasts an impressive array of technical capabilities.