Synopsis:
ILJIN, a prominent entity within the Amber Group, has solidified its footprint in the Electronic Manufacturing Services (EMS) sector by acquiring a substantial 60% ownership stake in Ascent Circuits. This strategic move underscores ILJIN's commitment to expanding its portfolio and strengthening its position in the rapidly evolving EMS domain. The acquisition is poised to bolster ILJIN's capabilities and market presence, paving the way for enhanced growth opportunities and synergies within the EMS industry. ICCBizNews provides insights into the significance of this acquisition and its implications for ILJIN's strategic objectives and the broader EMS landscape.
The homegrown manufacturing conglomerate, The Amber Group, recognized for its diversified B2B electronic manufacturing services (EMS), has finalized agreements with Ascent Circuits Pvt Ltd to procure a 60% ownership stake within the company. The acquisition was carried out through ILJIN Electronics, an entity under the Amber Group's umbrella.
Ascent Circuits specializes in manufacturing various types of Printed Circuit Boards (PCBs), including single-sided, double-sided, multi-layered, and RF PCBs. Its clientele encompasses prestigious names such as ISRO, BEL, BHEL, along with multinational and domestic customers in automotive, telecom, and consumer electronics sectors. The company caters to diverse industries such as aerospace & defence, medical, energy solutions, automotive, telecom, data centers, consumer electronics, IT, and lighting, exporting its products globally.
This strategic acquisition is poised to enhance Amber's EMS portfolio by augmenting local value addition and backward integration into the passive components of PCB Assemblies. According to the company's statement, this move aligns with the Government of India's 'Make in India' and 'Atmanirbhar Bharat' initiatives. The group's overarching strategy aims to reinforce backward integration for its electronics (EMS) segment across varied applications, including aerospace & defence, medical, telecom, consumer electronics, and automotive sectors.
Amber aims to broaden its presence within the electronics (EMS) sector by reinforcing its research and development initiatives and enhancing its PCBA manufacturing capabilities through the backward integration of Bare PCB Boards. This strategic move places Amber in a prominent position as a key player in the electronics EMS domain, particularly amid projections of double-digit growth in FY25 and beyond.
The Amber Group operates within three distinct business segments encompassing consumer durables, EMS, and railway subsystems and mobility. Within the consumer durables vertical, the company deals with finished goods such as RAC (room AC), room AC components (inclusive of motors), and non-room AC components. In the EMS business sector (comprising ILJIN Electronics & EVER Electronics), Amber provides solutions across various domains including telecom, automotive, smart energy meters, consumer electronics and appliances, as well as hearables and wearables. Another vital aspect of the group's operations pertains to railway subsystems and mobility.
