REG - Volex PLC - Completion of inYantra acquisition

VolexAnnouncement

16/05/2022 07:00

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RNS Number : 5310L  Volex PLC  16 May 2022

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 156 431

Nat Rothschild, Executive Chairman

Jon Boaden, Chief Financial Officer

Christian Bedford, Group General Counsel and Company Secretary

Julian Wais, Head of Investor Relations ( investor.relations@volex.com
(mailto:investor.relations@volex.com) )

 

Singer Capital Markets - Nominated Adviser & Joint Broker
    +44 (0)20 7496 3000

Shaun Dobson

George Tzimas

HSBC Bank plc - Joint
Broker                                                                        +44
(0)20 7991 8888

Simon
Alexander

Joe
Weaving

Powerscourt - Media Enquiries
                                   +44 (0)20 7250 1446

James
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 (http://www.volex.com)

 

-ENDS-

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