Cicor Group adapts its organizational structure to market conditions and customer needs

Tue, 10 Dec 2013

Zurich, 10 December 2013 – Cicor (SIX Swiss Exchange: CICN), an international high-tech industrial group and leader in the fields of printed circuit boards, microelectronics and electronic solutions, headquartered in Boudry (Switzerland), is optimizing its existing organizational structure in order to better align with customers' future needs.
The further development of the organization reflects the change in the circuit boards and microelectronics business and allows increasing the operational and technological excellence. The number of divisions will be reduced from four to two. The changes will take effect on 1 January 2014.

The new streamlined company structure is a logical step towards creating an efficient and futureoriented company. The optimized structure will support the Group management to drive forward organic growth, to become more productive and efficient and to avoid overlapping in order to achieve the desired long-term profitability target (8% EBIT). The broad range of technologies, skills and expertise that the Group combines under one roof gives it a decisive edge over its competitors.

The following organizational changes will be effective as of 1 January 2014:

The Cicor Printed Circuit Boards and Cicor Microelectronics divisions will be merged into the division „Advanced Microelectronics & Substrates (AMS)“. The new division will be headed by Pascal Keller, Executive Vice President, who has successfully been leading the Cicor Printed Circuit Boards division since 2009. A key success factor in the areas of circuit boards and microelectronics is innovation. This requires an in-depth understanding of customer needs and their respective value chains as well as interdisciplinary knowledge. With its broad and customized product and service portfolio, the Cicor Group provides solutions from the initial idea right through to the finished product. Its portfolio is supported by technological expertise, particularly in the field of miniaturization. The ME Division achieved only small progress over the last two years, but in part this slow progress reflects the changes within the Microelectronic market. Merging the two divisions will gear the technology roadmap in the area of substrates and microelectronics specifically towards the technological challenges of the customer applications. The AMS division can thus invest more efficiently and focused into new technologies and reach the customers in the respective markets. Efficiency improvement in the supporting processes such as sourcing and logistics is also target of the merger.

The Cicor Electronic Solutions and Cicor Asia divisions will be merged into the Division "Electronic Solutions". The division will be headed by Erich Trinkler, Executive Vice President, who has successfully been leading the Cicor Electronic Solutions division since 2011. Cicor Electronic Solutions is a full-service provider for the development and manufacture of electronic products who also delivers all-in-one solutions for all aspects of electronics. With its manufacturing capacities and capabilities in Asia, which also includes the areas of printed circuit board assembly, mold design and injection molding, the consolidated Electronic Solutions division offers a broad range of electronic manufacturing services (EMS). The integration of the Asia division into the Electronic Solutions division will help to streamline and to optimize processes and systems.

Gim Hong Sng, current Executive Vice President of the Asia division, and Heinz Gloor, current Executive Vice President of the Microelectronics division, take on new roles within the Cicor group as of 1 January 2014 and will no longer be part of the Group Executive Board.

 

Contact

Antoine Kohler
Chairman of the Board of Directors
Phone +41 43 811 44 05
E-mail: media@remove-this-text.cicor.com

Patric Schoch
CEO ad interim
Phone +41 43 811 44 05
E-mail: media@remove-this-text.cicor.com