Sees has decided to transfer its subsidiary SIIX Hungary Kft. to local firm Vipulse Technology Kft. as part of a strategic reevaluation of its European operations.
Information on the Target
SIIX Hungary Kft., a subsidiary of Sees, specializes in the manufacturing of electronic components. It focuses on assembly, processing, and implementation of electronic parts. For the fiscal year ending December 2023, the company reported a revenue of 7.92 billion yen, a negative operating profit of 1.59 billion yen, and net assets amounting to 800 million yen.
Due to a reevaluation of its business strategy in Europe, Sees has transitioned from liquidating SIIX Hungary to transferring its operations to a local company. This strategic shift highlights the company's adaptive approach to managing its overseas investments.
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Industry Overview in Hungary
The electronics manufacturing industry in Hungary has been experiencing significant growth, driven primarily by rising demand for advanced electronic products across variou
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Disclosed details
Revenue: $743M
EBIT: $-15M