Ayala-led Integrated Micro-Electronics Inc. (IMI) announced Friday it has completed the sale of its 100 percent equity interest in its Czech Republic-based manufacturing facility for €10.025 million.
The sale aligns with the company’s strategy to streamline its global manufacturing footprint and improve operational efficiency.
In a disclosure to the stock exchange, IMI stated it sold Integrated Micro-Electronics Czech Republic s.r.o. to Keboda Deutschland GmbH & Co. KG, a subsidiary of China-based Keboda Technology Co. Ltd.
“This strategic divestment is in line with IMI’s ongoing efforts to streamline its global manufacturing footprint,” the company said in a statement. “With this transaction, IMI is better equipped to enhance operational efficiency, increase facility utilization, and drive overall profitability in the region.”
Keboda is a publicly listed company in China and a provider of system solutions for automotive intelligent and energy-efficient electronic components. IMI noted that high-value customers previously managed by the Czech facility have been transitioned to IMI’s sites in Bulgaria and Serbia.
Meanwhile, IMI also reported a net income of $7.6 million for the first half of the year, a significant turnaround from an $8.8 million loss in the same period last year.
Group revenues reached $497 million, with $446 million coming from core revenues. The turnaround was primarily driven by operational efficiency measures and cost controls.
“Our first-half results reflect strong progress toward our group EBITDA margin target, with our core business already delivering a 7.2 percent margin,” said Louis Hughes, IMI chief executive. “Despite ongoing market softness, we are collaborating closely with customers to optimize material costs and drive profitability. Our focus on operational efficiency remains firm.”
IMI is a leading global electronics manufacturing solutions provider, specializing in electronic products for the automotive, industrial, power electronics, communications and medical industries.
