EPCOS, a manufacturer of electronic components, modules and systems, has signed an agreement with the Chinese company, Anhui Feida Industry Stock Co. Ltd., to launch a joint venture under the name EPCOS (Anhui) Feida Electronics Co. Ltd. (EPCOS Feida). The joint venture will develop and manufacture power capacitors for AC applications.
Subject to approval by the relevant authorities, EPCOS Feida should open for business at the start of 2009. Around 1,300 employees will be transferred from Anhui Feida to the joint venture, and over the next three years the company aims to generate sales totaling about €100 M.
With its capital investment, EPCOS owns 60 percent of the shares in the joint venture. Anhui Feida, one of China’s leading makers of power capacitors for AC applications, is incorporating all of its business activities involving these products as a non-cash contribution. This contribution includes both a modern production facility and the associated local sales network. EPCOS Feida will be headquartered in Ningguo City, where its manufacturing operations will also be based.
