Universal Instruments Corporation has announced that it is leaving the portfolio of technology businesses held by its current parent company, Dover Corporation, by mutual agreement. The electronics assembly equipment manufacturing and service businesses of Universal Instruments are in the process of being acquired by new owners. The potential new owners are established businesses with strong track records in technology markets who will provide continuity to customers, employees and vendors worldwide.
In addition, the company is realigning to improve the focus on Universal’s core market sector of Surface Mount and Insertion Mount electronics component assembly to drive growth in its global market share, and will continue to develop its strong product portfolio. Part of the improved company structure is the formation of an autonomous new business called Unovis, which will focus on providing specialized assembly solutions.
Jeroen Schmits, President of Universal Instruments says: “Our changing business model and our ambition to grow Universal’s global market share through absolute focus on our key sector means that partnering with a company that appreciates and accepts the cyclical market environments in which we operate is the right decision for Universal. We will soon be announcing new platform equipment configurations that will see us surpass our global competitors in high speed, flexible surface mount manufacturing.”
EPP EUROPE 411
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