BYD subsidiary BYD Electronics reached an settlement with US-based printed circuit board producer Jabil Circuit’s Singapore subsidiary on August 26, in accordance with Reuters. BYD Electronics will purchase the latter’s cell electronics manufacturing business in the Chinese cities of Chengdu and Wuxi for RMB 15.8 billion ($2.2 billion). Following the settlement, Jabil Circuit will switch the operations in each cities to its newly-established entity referred to as Juno Newco Target Holdco Singapore Pte. Ltd., and BYD Electronics will then purchase all shares of the brand new firm. The transfer will enlarge BYD Electronics’ market share of merchandise, improve its general competitiveness, and guarantee long-term sustainable improvement, BYD stated in an trade submitting, with out divulging any additional particulars in regards to the acquisition. [Reuters; BYD filing, in Chinese]
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