SOMACIS start new phase in Korea
Mar 29, 2007
The relationship between SOMACIS Holding and SOMACIS Korea Co. Ltd. has closed, but the possibility of new partnership opportunities is opening in Korea for the SOMACIS pcb industries group.
SOMACIS Holding has terminated the industrial partnership between itself and SOMACIS Korea Co. Ltd., the Korean company specialized in the production of printed circuit boards for mobile phones and LCD screens.
The joint venture, which was entered into in August 2005, held strategic goals for SOMACIS in terms of backup capacity resources, completion of the product range and consolidation of its position for the production of mid to high technology.
After two years of working together, SOMACIS Holding, in full agreement with its counterpart, has decided to interrupt its business and industrial partnership. Due to the fact that the company's strategic expectations have not been met, together with the start-up of the new productive plant in China which offers now a significant increase in capacity and capability.
With the termination of this relationship, the Korean firm is obliged to change its company name by removing the brand-name "SOMACIS" within the month of March 2007.
However, the conclusion of this working partnership with the Korean company does not signify the end of SOMACIS pcb industries being directly present in Korea, instead, the company is working towards reconfirming its strategic interest in this area of the market, which is of the highest relevance to the growth of the group on the international scene.
New, interesting partnership projects are already being evaluated with local companies, who are well aware of the strategic position SOMACIS pcb industries holds, within the sector.