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ST. LOUIS, MO, June 30, 2016 /24-7PressRelease/ -- Advantek Inc., a leading provider of precision component delivery systems, has signed a purchase agreement to acquire all shares of Convolutor International AB, a carrier tape manufacturer in Laxa, Sweden.
Worldwide demand for deep-pocket carrier tape is growing, especially for applications in the automotive and telecom sectors and among mechanical component manufacturers who utilize robotic pick-and-place technology. With the acquisition of Convolutor, Advantek will enhance its expertise and capability in deep-pocket and wide-width carrier tape and be better able to serve these manufacturers.
"We are pleased to join forces with Convolutor," says Wim Goossens, President of Advantek. "In addition to the company's specialized technology and extensive experience in linear forming, Convolutor has access to an excellent tool shop, and its tooling lead time is among the shortest in the industry. This acquisition will allow us to expand production in Europe and bring a wider range of carrier tape products faster to customers in the region. "Convolutor brings depth, width, and agility to Advantek, and we are excited to be working with this talented team."
"We've always had a good feeling about Advantek when meeting their representatives at trade shows and elsewhere," says Tor Osterberg, CEO of Convolutor International AB. "From our perspective, integration with Advantek offers an opportunity to access markets we cannot reach on our own. In addition, Advantek's large-scale, standardized production nicely complements our own niche products and processes. Together, we will be able to further develop Advantek's range of carrier tape products for manufacturers in Europe."
Convolutor will become Advantek-Convolutor AB. The sale is expected to be final in early July.
For more information, contact
Wim Goossens, President, Advantek Group, telephone +33 671 00 48 75
Jim Harvey, Vice President Business Development, Advantek Group, telephone +1 715 833 16 77
Jason Skrtic, Vice President Global Sales, Advantek Group, telephone +1 952 988 86 04
Advantek carrier tape safeguards delivery of delicate components for computers, mobile phones, LED applications, medical devices, smart appliances, automotive systems and other technological products. For more information, visit www.advantek.com.
Advantek is a wholly owned subsidiary of Robert Family Holdings (RFH) since 1992. RFH is a privately held, family business with origins reaching back to 1946. The RFH strategy is focused on managing growth and the acquisition of select companies. The vision to identify growth opportunities, the strength to develop technologies and the commitment to customers are the core elements of its strategy.
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