MANILA – The Philippine Competition Commission has approved the purchase of ATM module assembler Hitachi Terminals Mechatronics Philippines by PCB maker Mikuni Toyo Co.
With the acquisition, Mikuni Toyo is increasing its presence in the manufacturing and assembly business for new Subic component customers.
The acquisition is reportedly unlikely to result in substantial lessening of competition. Both firms were found to produce different electronic products used for varying applications.
No financial terms were disclosed.