In a press briefing, IMI Chief Executive Officer Arthur R. Tan said expansion of facilities will be an option for the company since they may need additional capacity in China and here in the Philippines.
IMI’s merger with Speedy-Tech, a Singapore-based EMS and power electronics company just took effect last December 6, 2005. The merger is expected to result to increased scale, enhanced capabilities, broader geographic presence and expanded customer base for IMI which is the surviving company.
IMI has five manufacturing facilities in the country and two design facilities here and in Tustin, California. With the merger, IMI gains access to the five other facilities of Speedy-Tech located here in the country, in China and in Singapore.
Tan said the merger is also expected to aid in diversifying IMI’s customer base as there is little customer duplication between the two companies. He added apart from Japan, it will also gain customers from the U.S. and Europe as it takes over SpeedyTech’s operations.
The company is also expecting $500 million in topline revenues by 2008 or even earlier as a result of the merger.
" The next challenge for us is integration, our capabilities, competencies, cultures, management philosophies, systems, processes, in order to ensure that maximum synergies will be realized," Tan said.
After the scheduled integration next year, Tan added, the company will explore the possibility of listing the shares of IMI at the local exchange or in other bourses abroad. He said the initial option was to list IMI through SpeedyTech but it later opted to delist the latter from the Singapore Stock Exchange.
Tan said IMI will remain as a privately-held company until it sees the proper time to go public. IMI is a subsidiary of conglomerate Ayala Corporation which along with its other subsidiaries Globe Telecom, Ayala Land and Manila Water are listed at the Philippine Stock Exchange.
IMI is a leading EMS and Original Design Manufacturer (ODM) company serving some of the world’s largest original equipment manufacturers.
Established in 1980, IMI has progressed into a company offering core manufacturing capabilities as well as higher value competencies in product design, engineering, prototyping , and supply chain management.
IMI serves customers in Japan, the U.S., and Europe in optical and hard disk drive, communications, industrial, consumer and automotive electronics markets.
Speedy-Tech is an EMS provider and an ODM of power electronics solutions, with production facilities in Singapore, China and the Philippines. It has a well-diversified base of customers spread over a wide spectrum devices, telecommunications and consumer electronics sectors covering the US, Europe and the Asia Pacific region.
Speedy-tech counts among its customers, established global electronics players such as Canon, Dentsply, EBM-Papst, Emerson Network Power, Fiberxon, Hewlett Packard, Huawei Technologies, LG Electronics, NEC, Nippon Antenna, Printronix, Shimadzu, Videojet Technologies and many others.
