Boyd Closes First Phase of Acquisition of Brady Die-Cut Business
May 2, 2014 - Calif., Modesto, United States
Boyd Corporation, a leading global provider of highly engineered, specialty material-based environmental and energy management solutions, today announced it completed the first phase of its purchase of the Asian and European Precision Die Cut Converting business of Brady Corporation (NYSE:BRC). The newly acquired business will now operate under the Boyd brand – a name that carries almost 100 years of tradition and vision.
With today’s announcement, newly acquired business operations and facilities in Chon Buri, Thailand; Gumi, Korea; Syke, Germany; Singapore; and Malaysia immediately begin delivering the benefits of the “New Boyd” with an integrated workforce that now exceeds 1,200 worldwide.
“We are pleased to have this talented group of people now part of the Boyd team, and equally pleased that we are in a position – like never before – to serve customers with capabilities that are truly global in nature,” said Mitch Aiello, Boyd Corporation President and CEO. “This industry requires an ability to scale with local design expertise – and move with agility in an environment that is quickly changing. The New Boyd is now poised to capitalize and execute on key growth markets such as consumer electronics and mobility, among others.”
Boyd is expanding its presence in key markets, diversifying its customer base and establishing global manufacturing capabilities. This includes acquiring premier OEM brands as customers and extending the company’s reach and portfolio diversity in electronics.
Through this transaction, Boyd is adding facilities across Asia and Europe, which allows the company to optimize logistics and source the best materials from around the world. The newly acquired Asian operations primarily manufacture high-performance products such as gaskets, meshes, heat dissipation materials, antennae, dampers, filters, and similar products sold into the mobile computing, data storage and electronics industries. The European operations primarily manufacture precision components and thermal management products used in the medical, automotive electronics and telecommunications industries.
In addition to Boyd’s existing manufacturing and design hubs around the United States, Europe and Asia, additional facilities will be added to Boyd’s footprint located in Shenzhen, China; Langfang, China; Wuxi, China; Taipei, Taiwan and Nodinge, Sweden once the second phase of the transaction closes, which is expected to occur mid-year following the satisfaction of certain customary closing conditions relating to the second phase of the transaction.
Boyd’s existing product portfolio includes environmental seals and gaskets and energy management components, including EMI shielding, acoustic and thermal insulation, cushioning and shock absorption, thermal management, and bonding systems. Importantly, the acquisition brings a broader array of precision manufacturing, product design and engineering capabilities, further enhancing Boyd’s delivery of performance-critical energy and environment management solutions.
About Boyd Corporation
Boyd Corporation is a global provider of precision-engineered, specialty material-based environmental and energy management solutionswith specific expertise in engineering and design, manufacturing and supply chain management. The company operates in markets around the world and serves customers in electronics, mobile computing, medical technology, transportation, aerospace and other B2B and consumer-critical industries. For nearly 100 years, the Boyd brand has represented stability, adaptability and vision along with employing the most experienced team in the industry. Boyd Corporation: One Company, Many Solutions. Visit us at www.boydcorp.com.
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Source: Business Wire India