The Adval Tech Group is selling its Mexico business and its medical technology activities in China to the Hudson (Wisconsin)-based US company Phillips-Medisize.
In line with its new strategy, the Adval Tech Group is concentrating on mold making and on selected activities in the components business. Swiss Capital Corporate Finance AG, Zurich was commissioned to investigate possible joint venture and sale options. Adval Tech has now found the perfect buyer in the form of Phillips-Medisize Corporation, which is purchasing the Mexico site (Omni Manufacturing Services S.A. de C.V, Querétaro) and Adval Tech's medical technology activities in China (Adval Tech Medical (Suzhou) Co. Ltd.).
Both parties have agreed not to disclose the purchase price. Phillips-Medisize is expected to take on the entire workforce of approx. 350 people. The sale does not affect the activities of the Grenchen-based subsidiary Teuscher
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