Business
Completion of inYantra acquisition
Completion of inYantra acquisition.
About this update from Volex Plc
[{"type":"text","content":"\n \n \n 16 May 2022\n \n \n \n Volex plc\n \n \n \n(\"Volex\" or the \"Company\")\n \n \n \n \n \n \n Completion of inYantra acquisition\n \n \n \n \n \n \n \n \n Volex plc (AIM:VLX), the global supplier of integrated manufacturing services and power products, confirms the completion of the acquisition of\n inYantra Technologies Pvt Ltd (\"inYantra\") following the conclusion of the purchase of industrial land and operational buildings at the inYantra site in Pune, India (the \"Property Purchase\") for $5.0 million.\n \n \n The Property Purchase follows the completion, on 30 March 2022, of a 51% equity investment in inYantra for $8.0 million.\n \n \n \n Nat Rothschild, Executive Chairman of Volex, commented:\n \n \n \n \"The completion of our acquisition of inYantra, provides an excellent strategic opportunity to expand our global footprint, which is consistent with our strategy, and will bring new and strengthened capabilities in the key Indian market.\"\n \n \n \n About inYantra\n \n \n \n inYantra specialises in the assembly of printed circuit boards and box builds. It operates from a single site in Pune, Maharashtra, India, with around 500 employees and occupies approximately 3.5 acres of the 13.5 acres site being acquired via the Property Purchase. The business was founded in 2002 with strong customer relationships in automotive, consumer and industrial automation both domestically and overseas.\n \n \n \n \n \n \n \n For further information please contact:\n \n \n \n Volex plc \n \n +44 (0) 7971 156 431\nNat Rothschild, Executive Chairman\nJon Boaden, Chief Financial Officer\nChristian Bedford, Group General Counsel and Company Secretary\n \n \n Julian Wais, Head of Investor Relations (\n \n \n \n [email protected]\n \n \n )\n \n \n \n \n \n \n Singer Capital Markets - Nominated Adviser & Joint Broker\n \n +44 (0)20 7496 3000\nShaun Dobson\nGeorge Tzimas\n \n \n \n HSBC Bank plc - Joint Broker \n \n +44 (0)20 7991 8888\nSimon Alexander \nJoe Weaving \n \n \n \n Powerscourt - Media Enquiries &n...