SOURCE: Elcoteq SE

March 03, 2011 01:50 ET

Elcoteq Acquires BroadTech Inc. to Further Strengthen Its After Market Services Offering

ESPOO, FINLAND--(Marketwire - March 3, 2011) - Elcoteq SE, through its U.S. subsidiary, has on March 2, 2011, acquired 100 % of the shares of BroadTech Inc, a Lewisville, Texas based company which provides After Market Services (AMS). BroadTech is offering reverse logistics, repair, refurbishment and related information management services to the wireless and consumer electronics industries. The acquisition of BroadTech further strengthens Elcoteq's AMS offering in the U.S. and will serve as a global platform in developing Elcoteq's reverse logistics and quick turn-around repair services. BroadTech employs approximately 80 people.

The new business acquired is expected to generate additional sales in the AMS Business Segment in the range of approximately MUSD 15 - 20 on an annual level. The deal is expected to have a positive impact on the profitability of Elcoteq's After Market Services business already in 2011.

"This is a strategic step for Elcoteq in building a leading global After Market Services provider to the consumer and communications electronics industries. BroadTech adds key reverse logistics, repair, refurbishment and related information management capabilities to our service offering in a central location in Dallas Metroplex area", says Vesa Keränen, the Head of Elcoteq AMS Business Segment. "Combining these additional capabilities to our cost-effective high volume depot repair operations in Monterrey and Juarez in Mexico, will increase the value proposition to our combined customer base consisting of the leading original equipment manufacturers (OEMs), network operators, retailers and insurance companies".

"We are pleased to join Elcoteq's global organization", said David Lopez, President and Founder of BroadTech Inc. "This combination provides BroadTech with an access to greater resources and enables us to serve our customers with a true end-to-end solution for their reverse logistics, refurbishment and repair needs. I see this also as a great opportunity for BroadTech's employees". Mr. Lopez will continue managing BroadTech operations in Elcoteq organization.

ELCOTEQ SE

Petra Ebner
Director, Marketing and Communications

About Elcoteq

Elcoteq SE is the global Life Cycle Service Partner for high-tech product and service companies. Elcoteq has a proven track record in electronics manufacturing and after market services and a global service network close to its customers coupled with modern manufacturing and testing equipment and consistent systems and processes.

Elcoteq's Electronics Manufacturing Services (EMS) Business Segment provides its customers globally with engineering, manufacturing and fulfillment services. EMS products include mobile phones and their accessories, set-top boxes, LED lighting products, flat panel TVs, infrastructure systems and other industrial segment products.

Elcoteq's After Market Services (AMS) Business Segment is providing its customers in the communications and consumer electronics industries with global reverse logistics, depot repair, refurbishment, recycling and salvage services but also AMS specific engineering and customer support services.

Elcoteq SE is listed on the NASDAQ OMX Helsinki Ltd. For more information visit the Elcoteq website at www.elcoteq.com

Contact Information

  • For further information please contact:
    Vesa Keränen
    Senior Vice President, After Market Services Business Segment
    Tel. +1 469-248-3754