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CSTG Acquires Intense Fabrication Facility
CST Global Limited has announced that it has acquired the UK fabrication assets of Intense Ltd based in Hamilton Scotland. As part of the transaction Intense will retain a minority stake in CST.
This is in line with CST’s expansion strategy underpinned by a £4M investment in May 2009, and further strengthens CST’s Optoelectronic foundry business model with new technical capability, engineering resource and production capacity.
The deal will allow CST to consolidate all production activities in Hamilton and extend the existing contract laser manufacturing relationship with Intense.
CST CEO Neil Martin commented:
‘This is a natural progression of the acceptance of the favourable economics of the foundry business model in the Optoelectronics sector. It also affirms our long held belief in the “pure-play” foundry. We are seeing solid growth in established markets such as FTTH and Defence which has supported our expansion in the current recessionary period. Increased capacity is required to support further growth in these markets and to allow us to develop new foundry offerings for emerging technologies driven by ‘cleantech‘ applications in sensing, energy and medical markets. We are investing now in order to be ready to take advantage of new opportunities that will certainly emerge through the global economic recovery.’
For further information please contact Mary Kane on 0141 579 3000.