Chemitalic – back as independent PCB manufacturer

One of the best known PCB factories in Scandinavia – Chemitalic – is back-in-business through a Management Buy-Out from GPV PCB Division.
Chemitalic, located in Horsens, Denmark, has for a number of years been the leading supplier of Industrial PCB’s, with Scandinavia and the Northern Europe as its main markets

In 2003 Chemitalic became part of GPV’s PCB division through the merger between Sieker Print, Printca and Chemitalic and has since then been owned by GPV Group.

On April 21st, 2009 GPV PCB Division submitted a petition for compulsory winding up and GPV Group announced in early April that they no longer saw a strategic fit with the production of PCB’s and therefore were seeking new owners for the still operational parts of the PCB Division.

GPV PCB Division has entered into an agreement, through a Management Buy-Out, to sell its shares in GPV’s PCB factory in Suzhou, GPV Printed Circuits (Suzhou) Ltd., to two leading employees from GPV PCB Division. The Industrialization Fund for Developing Countries – IFU – will maintain an engagement in the factory. The company name will be changed to Chemitalic Suzhou Ltd.

The location of the factory is in Suzhou, 2 hours outside of Shanghai, China, where production of PCB’s was initiated in 2005. A Scandinavian sales office will be opened in Horsens, Denmark under the name Chemitalic Denmark A/S.

Chemitalic is the only European PCB factory in China with focus on high mix – low volume production of standard industrial PCB’s.

Part-owner and Director of Chemitalic Denmark A/S, Palle Morthorst comments:

”Our direct ownership enables our European customers to have the same conditions and influence on their supplier, as they have been used to when the factory was physically located in Denmark. The new Chemitalic will appear as a superior, differentiated and independent alternative to traders and other local market players”

In the new Chemitalic the intention is to enter into partnerships with other PCB manufacturers in Europe and the Far East, producing PCB’s within other niche areas, in order to utilize each others production capabilities and sales resources. At this moment negotiations are underway with 3 possible partners, with expected agreement finalization before the end of August, 2009.

To ensure and develop sales activities in markets outside Denmark, Chemitalic has entered into negotiations with different potential sales partners in Europe. It is absolutely necessary to have local presence in order to support customers outside of Scandinavia.

With this MBO a sustainable solution for GPV’s desire to leave the PCB market has been found, while at the same time carrying on the proud traditions, in which Chemitalic was founded and operated.

Steen Svendsen – part-owner and Director of the new Chemitalic Suzhou Ltd. comments:
“To take over this factory and drive and develop it into the future is a fantastic opportunity. The factory has a unique market position and has developed positively over the past 2 years. We are very optimistic in relation to making the new Chemitalic the leading supplier of PCB’s to the Scandinavian and Northern European markets and through that ensure our existence on the long-term”

For further information, please contact:
Steen Svendsen, Managing Partner and Director, Chemitalic Suzhou Ltd.
Tel.: +86 1386 2559 053, E-mail: sts@chemitalic.com
Palle Morthorst, Managing Partner and Director, Chemitalic Denmark A/S
Tel.: +45 24 96 13 50, E-mail: pmo@chemitalic.dk