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SOMACIS and Cosmotech Enter JV for Brazil and Korea
Written by Administrator
Monday, 08 October 2007
CASTELFIDARDO, Italy - SOMACIS Holding has signed a joint venture agreement with the Korean company Cosmotech to work together in Brazil and to develop a future partnership project in Korea.
SOMACIS Holding is pleased to announce that it has signed a partnership agreement with the Korean company Cosmotech Co Ltd., leader in the production of printed circuit boards of medium-to-high technology for digital appliances, telecommunication equipment, IC modules and substrates.
The partnership is aimed at commercial collaboration in the Brazilian market, a market in which SOMACIS has been present in since 1999 and where it has its own production facility. A partnership that also sets the base for a future project for the combined development of business in Korea and Asia.
With the drawing up of this joint venture contract, Cosmotech has acquired a minority shareholding interest in the Brazilian company SOMACIS Do Brasil Circuitos Ltda., which, as of the 1st October, has changed its name to Somacis & Cosmotech Do Brasil Circuitos Ltda.
SOMACIS and Cosmotech will jointly create a new commercial division geared towards the promotion and development of printed circuit board sales to Asian clients based in Brazil. Clients with whom both companies already have techno-commercial relationships consolidated in Asia and Europe.With this agreement, SOMACIS acquires a purchase option right in the capital stock of Cosmotech.
This joint venture binds SOMACIS and Cosmotech in an important partnership project, putting together both the expertise and strength of two leaders in the production and commercialization of high tech printed circuit boards, and consolidates their strategic position in the global market.
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