AYALA-LED Integrated Micro-Electronics Inc. is now the world’s sixth largest automotive electronics manufacturing service (EMS) provider based on a recent ranking made by a California-based market research firm.
In a disclosure to the Philippine Stock Exchange, IMI said it was ranked 6th among top automotive EMS providers in the world based on 2015 automotive EMS revenues conducted by New Venture Research (NVR).
IMI was ranked seventh in 2014 after posting 9.2 percent growth in automotive EMS revenues based on its audited financial statement.
NVR is headquartered in Nevada City in California, and was established in 1988 to provide business research services for high technology electronics sector.
“We are very proud of this achievement as it reflects our continuous business expansion to serve the automotive market. Further, it is a testament to our deep expertise that is being recognized by our existing customers and attracting other automotive parts makers,” said Gilles Bernard, IMI president and chief operating officer.
In 2015, IMI’s net income slid to $28.8 million from $29.1 million a year before due to foreign exchange fluctuations and a slowdown in the computing and telecommunications segments.
Discounting the foreign exchange adjustments, the Ayala subsidiary would have enjoyed a 21 percent increase in revenues and 2 percent income growth.
IMI supplies customized solutions in driver assistance, driver and passenger safety, car security and body controls, among others.
“As the electronic content of cars increases, our collaborative approach and extensive technical capabilities will open the door to even more opportunities with tier one suppliers in the automotive industry for the development or assembly of their products,” Arthur Tan, the company’s chief executive officer, said.
IMI is expanding its plants in Jiaxing in China, Botevgrad in Bulgaria and Guadalajara in Mexico to accommodate increased business from tier one automotive part suppliers.
The company also ranks among the world’s leading 50 EMS providers in terms of revenues generated from manufacturing electronic products based on the latest survey conducted by Manufacturing Market Insider.
IMI, a subsidiary of Ayala Corp., specializes in durable electronics for long-product life cycle segments such as automotive and industrial electronics.