2024-05-10 20:19:18
Zurich (awp) – Cicor CEO Alexander Hagemann has a clear strategic vision for the company, which he wants to transform from a made-to-order manufacturer of electronic components into a contract development and manufacturing organization, CDMO. The first and important step in this direction has been taken.
Cicor will become a partner that will produce products in the field of electronics, based on the ideas of customers, Hagemann said in an interview with Finanz und Wirtschaft. The company will undertake product development at an earlier stage than before, he added.
With its recent acquisitions, Cicor has recently doubled its development resources. In two years, significant progress has been made towards the transformation to CDMO, stressed the head of the company, which prides itself on a clear growth strategy.
In terms of acquisitions, Cicor is particularly looking for candidates in its three target markets of medical technology, industrial and aerospace in Europe. These possible targets must, if possible, be located in one of the group’s three base markets, in Switzerland, Germany and Great Britain, the manager further specified.
However, the latter does not exclude regions such as Scandinavia, France or Italy. As for potential interesting targets, they must generate roughly between 10% and 20% of Cicor’s revenue.
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