Lingyi iTech to buy Finnish component maker

Shenzhen-based magnetic materials manufacturer Lingyi iTech has agreed to buy Finland-based Salcomp for EUR88 million (US$99 million), part of which will be used to pay the electronics components maker’s bank debts, reports Yicai Global.

The move will help Lingyi to expand its business to the downstream industrial chain, improve its global positioning of production bases and further develop overseas markets.

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