Smiths Interconnect, a leading provider of electronic components, subsystems, microwave and radio frequency products, announced today the joint venture with Sichuan Huafeng Enterprise Group Co. Ltd, one of the major manufacturers of electronic components in China. The transaction is now completing the regulatory approval process.
The joint venture agreement was signed at a ceremony in Sichuan, China in the presence of representatives from the Mianyang government and stakeholders from both companies.
By leveraging Smiths Interconnect's technology and manufacturing expertise, the joint venture will provide a broader product portfolio and more effective qualification processes to help deliver a competitive advantage to the customer base.
"We are delighted about our partnership with Sichuan Huafeng,” said Roland Carter, President of Smiths Asia. “Smiths Interconnect's world-class technology, joined with Sichuan Huafeng's manufacturing capabilities, will allow us to offer industry-leading connectivity solutions to the rapidly expanding commercial aerospace and railway markets in China. This is in line with our strategy of building a strong presence in Asia.”
“This arrangement strongly positions Sichuan Huafeng and its partner Smiths Interconnect in China,” added Chen Lian, President of Sichuan Huafeng. “We have every confidence that our customers will value the best-in-class capabilities and benefits that the joint venture will deliver.”