Ayala unit buys Bulgaria property to hike capacity

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AYALA-LED semiconductor manufacturer Integrated Micro-Electronics Inc. (IMI) — via its Bulgaria-based unit Integrated Micro-Electronics Bulgaria EOOD (IMI BG) — has purchased a 16,275-square meter (sqm) property in Botevgrad, Bulgaria for 1.14 million euros to increase capacity.

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In a statement, the company said it bought the Botevgrad facility from Melexis Bulgaria EOOD (MB), a Bulgaria-based manufacturer of microcontrollers that leases out property for IMI BG’s manufacturing use.

“This new development augurs well for IMI BG. With additional capacity, IMI BG can service more OEM requirements, especially in its fast-growing target markets of automotive and industrial electronics,” said Arthur Tan, IMI president and chief executive officer.

“The acquisition reinforces IMI BG’s strong position in winning new businesses enhancing IMI’s strategy of providing long lasting partnerships to its customers,” he added.

The newly acquired facility was previously leased by the Bulgarian IMI from MB, having a total leasable area of 12,193 sqms. Out of the leasable area, 7,293 sqms is being used by IMI BG while the rest of the 4,900 sqms are leased to a third party manufacturer.

In 2014, IMI BG booked $188.3 million in revenues, 29 percent higher than its 2013 sales.
It is currently building a 3,150-sqm greenfield facility and another 6,900-sqm unit, both of which are set for completion by the first quarter of 2016.

IMI said its net income surged to $29.1 million in 2014, nearly triple the $10.5 million profit recorded in 2013, while revenues increased 13 percent to $844.5 million in 2014 from $745 million.

It said revenue contributors consisted of automotive sector (38 percent share), telecommunications (21 percent), industrial (12 percent), consumer (12 percent), computing (6 percent), medical (3 percent), multiple markets and others (8 percent).

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