Zhen Ding Subsidiary Avary Acquires Majority Stake in Wuxi Huayang

TAIPEI – Zhen Ding Technology said its subsidiary, Avary Holding, will acquire a 54% stake in China’s Wuxi Huayang Technology for $50 million, expanding the group further into automotive electronics.

Huayang will become a consolidated subsidiary of Avary following the transaction, supporting Zhen Ding’s strategy to grow its offerings in AI-enabled driving systems and advanced automotive modules. Huayang develops sensors, modules and smart components used in robotics, industrial control, medical equipment and vehicle platforms, handling production from materials through finished chips.

Zhen Ding chairman Shen Chang-fang said Huayang’s sensing and module technologies complement the group’s PCB capabilities, broadening its R&D base and strengthening customer reach. Huayang’s current management team will remain in place, with integration of R&D and manufacturing resources expected to improve efficiency and speed product development.

The acquisition comes as global demand for automotive electronics continues to rise, driven by connected, intelligent and energy-efficient vehicle designs.

Solstice Advanced Materials Completes Spinoff from Honeywell

MORRIS PLAINS, NJ – Solstice Advanced Materials, a producer of etchants, solvents and cleaning chemistries for electronics and other applications, began trading on Nasdaq under the ticker SOLS on Oct. 30 following its separation from Honeywell, creating an independently operated specialty materials company. The newly formed firm includes roughly 4,000 employees, 24 manufacturing sites and four R&D centers serving more than 3,000 customers across 120 countries.

Solstice said operating independently positions it to expand across cooling, building systems, advanced computing, energy, safety and healthcare markets. The spinoff gives the company more flexibility to invest in specialty materials growth initiatives.

AGY to Expand Specialty Glass Fiber Capacity in South Carolina

AIKEN, SC – AGY will invest $12.1 million to expand its specialty glass fiber operations in Aiken County, adding 80 jobs and increasing US production of low-Dk and low-Df fibers used in PCB laminates, semiconductor packaging, high-performance electronics and telecom systems.

The firm said the operations upgrades are expected to come online in early 2026, supported by a $200,000 state renovation grant.

Thai Kun Circuit Expands PCB Manufacturing with New Factory

PRACHINBURI, THAILAND – Thai Kun Circuit has begun construction on a new factory at the 304 Industrial Park as part of a broader plan to expand PCB manufacturing capacity and strengthen its role in the global electronics supply chain.

The facility will support increasing demand for double-sided and multilayer PCBs used in automotive electronics, industrial and safety control systems, consumer electronics and communications. The investment reinforces the company’s focus on technology upgrades, higher product quality and expanded R&D capability.

At the foundation stone event, company representative Hong Geng Qi emphasized the manufacturer’s commitment to sustainable growth and continued innovation. Thai Kun Circuit operates two R&D centers recognized at the municipal and provincial levels, supported by international certifications and established intellectual property systems.

Concord Control Systems Acquires 50% Stake in Fusion Electronics

LUCKNOW, INDIA – Concord Control Systems has acquired a 50% equity stake in Fusion Electronics, marking the company’s entry into the flex PCB manufacturing market and designating Fusion as an associate company.

Fusion Electronics operates India’s largest flex PCB facility, with an annual capacity of 200,000 m² and EBITDA margins above 20%. The plant supplies major automotive customers, including Ferrari, BMW, Mercedes-Benz, Land Rover, Magneti Marelli and Hella. Concord said the investment positions the company to diversify beyond its core railway systems business into broader electronics and industrial markets.

The company’s three-year roadmap includes plans to double production capacity, add surface-mount and box-build capabilities, and build a standalone EMS platform supporting strategic industries. Leadership changes accompanied the transaction, with former promoter Sameer Mehan stepping down from Fusion’s board on October 29. Newly appointed directors include Gaurav Lath, Nitin Jain, Pankhuri Lath and Mahima Jain.

Concord said the acquisition advances its goal of developing a high-value electronics ecosystem aligned with India’s manufacturing and self-reliance initiatives.

Wipro Electronics to Open $60M PCB Manufacturing Plant in Bengaluru

BENGALURU, INDIA – Wipro Electronics said it will begin production at its $60 million printed circuit board manufacturing facility in Doddaballapura within nine months, marking a major step toward strengthening India’s domestic PCB supply chain.

Construction of the plant is expected to finish in six months, with manufacturing operations ramping shortly afterward, CEO Neeraj Pandit said at the Bengaluru Tech Summit. The move comes as India continues to import roughly 85% of its PCB demand despite a domestic market valued at about $600 million.

The facility is positioned to support India’s effort to build a competitive PCB ecosystem amid rapidly rising global demand. PCBs represent a $280 billion industry projected to exceed $2 trillion by 2030. Industry leaders at the summit emphasized the need to expand both design and fabrication capabilities to reduce long-standing dependence on foreign suppliers.

The announcement coincided with new investment commitments from the Karnataka government, including more than $310 million in semiconductor, EV battery, and biotech projects, as well as expanded funding for deep-tech initiatives intended to strengthen the state’s electronics and advanced manufacturing sectors.

PE Firm Acquires NeoTech, Eyes Turnaround

STAMFORD, CT – Top 50 EMS company NeoTech was acquired by Arkview Capital, a private equity firm specializing in working with corporate turnarounds, on Nov. 14. No financial terms were disclosed.

The acquisition was financed in part by Crestline, Canyon Partners and PNC Bank.

In a statement, Arkview said it would accelerate investment in next-generation manufacturing, strengthen NeoTech’s balance sheet and expand capabilities across key end-markets.

“Arkview’s core values align closely with NeoTech’s, moreover, their partners bring deep industry expertise and a shared belief in NeoTech’s mission to deliver best-in-class solutions for our customers,” said Jim Doyle, CEO and president, Aerospace and Defense at NeoTech. “This partnership will allow us to accelerate our strategic initiatives, expand our service offerings, and continue investing in the talented team that has been the cornerstone of our success.”

Chatsworth, CA-based NeoTech is the culmination of several mergers and acquisitions of various EMS companies over the past decade, including Natel, Epic Technologies and OnCore, the latter of which had previously acquired NuVisions, DDI, Veritek and Victron. It has estimated annual revenues of more than $700 million.

Bezos-Led Startup Hopes to Overhaul Manufacturing with AI

SILICON VALLEY – Billions of dollars have been raised to support Jeff Bezos’ latest project, an AI startup called Project Prometheus, which hopes to bring AI to revolutionize industrial manufacturing.

According to published reports, Prometheus will focus on “AI that will help in engineering and manufacturing in a number of fields, including computers, aerospace and automobiles.”

The company has reportedly raised more than $6 billion in funding, and has hired more than 100 employees, some from the so-called Magnificent Seven, which include such blue chip companies as Amazon, Meta and Alphabet.

Scanfil Says MB Elettronica Deal Now Expected to Close in January

HELSINKI – Scanfil said its planned acquisition of Italy-based MB Elettronica is now expected to close in January after a brief delay, with the company reporting that a recent facility fire has not caused major operational disruption.

The EMS provider said all regulatory approvals have been secured and that the remaining closing conditions are on track to be completed. The deal was first announced on Jul. 13, 2025, but the timeline shifted after an Oct. 17 fire at one of MB’s Cortona sites. Scanfil said MB’s management has confirmed that production continues without significant interruption.

The company said it expects the transaction to move forward once final requirements are met in early 2026.

Kitron Moves to Acquire DeltaNordic

OSLO – Kitron has agreed to acquire Sweden-based DeltaNordic, advancing its expansion in defense and high-reliability electronics as both companies prepare for a rapidly growing market.

The transaction values DeltaNordic at $114 million on a debt-free basis and will give Kitron full ownership of the company, which supplies advanced electronics and electrical systems for defense, mining, construction, and infrastructure applications. About half of DeltaNordic’s projected 2026 revenue of $74 million is expected to come from defense customers.

Kitron said the acquisition will strengthen its position in the Defence & Aerospace segment and expand its footprint in Sweden, pending approvals from the Swedish Competition Authority and the Swedish Inspectorate of Strategic Products. Closing is anticipated in late December 2025 or early January.

DeltaNordic operates two facilities in Sweden and one in Nanjing, China, serving blue-chip clients in mission-critical markets. Both companies cite close alignment in high-cost-of-failure systems and minimal customer overlap, creating opportunities for joint growth.

The deal includes a cash component, a share component, and a revenue-based earnout. Kitron said it expects the acquisition to be earnings accretive and supportive of its growth targets for 2025 and 2026.

Coherix Expands Ann Arbor Operations

ANN ARBOR, MI – Coherix is expanding its North American manufacturing and product development footprint with a nearly $1 million investment to meet growing demand for its AI-driven dispensing-inspection and quality-control systems used in automotive and electronics assembly.

The company will relocate its headquarters and production to a 25,000-sq.-ft. facility at 1168 Oak Valley Drive by the end of 2025, increasing manufacturing capacity and adding new engineering labs. The move will support the creation of 10 to 15 engineering and product-development roles over the next year.

The new Innovation Center will feature 10 robot stations for real-time dispensing inspection, customer demonstration space and dedicated training areas.

Coherix is partnering with Eastern Michigan University, the Engineering and Manufacturing Alliance and other trade groups on workforce development and advanced manufacturing research. A $385,000 Coherix grant will support EMU’s three-year program focused on factory-of-the-future adhesive-dispensing technologies.

L&T in Talks with Tamil Nadu Government for 200-Acre Electronics Manufacturing Hub

CHENNAI – Larsen & Toubro (L&T) is in early discussions with the Tamil Nadu government to secure roughly 200 acres near Chennai for a large-scale electronics manufacturing campus, signaling a potential expansion into the EMS sector.

Reports indicate the site would support an integrated, end-to-end electronics facility spanning industrial electronics, automotive modules, aerospace systems and IoT hardware rather than consumer devices. The initiative would represent a strategic move for L&T as it diversifies beyond heavy engineering and infrastructure.

The proposed development aligns with India’s national electronics and semiconductor manufacturing goals and Tamil Nadu’s push to strengthen its position as a major electronics hub. If finalized, the project would support regional investment and could add significant capacity to India’s growing EMS ecosystem.

Source Engineering Expands into SMT with Acquisition of AimTek

PLYMOUTH, MN – Source Engineering & Manufacturing has acquired AimTek, expanding its operations into surface mount technology and strengthening its component packaging and assembly capabilities. The deal adds tape & reel packaging, lead forming and trimming for semiconductor and electronic components, as well as contract assembly support.

The company will now provide tape & reel services covering forming, trimming, labeling and delivery under EIA standards in a facility operating to ANSI/ESD S20.20 requirements. Automated systems support tape widths from 8mm to 152mm with both heat-activated and pressure-sensitive materials.

With these additions, Source Engineering broadens its role in precision electronics manufacturing and supports SMT component handling, production readiness and downstream assembly needs.