November 7, 2022
The company reports the beginning of an easing trend in the field of component shortages and design wins in the field of electric vehicles. The main growth engines: the automotive industry and the industrial production industry, which grew by 13% and 16% respectively
In the first nine months of 2022, the sales of the Philippine manufacturing contractor Integrated Micro-Electronics – IMI grew by about 7% and amounted to about 1.04 billion dollars. The company said that the conditions in the supply chain are starting to improve, and the pressure of the shortage of components is decreasing. Despite this, in the third quarter the company took a number of streamlining processes which improved its profitability. Sales in the quarter totaled approximately $351 million – a growth of 7% compared to the corresponding quarter last year.
IMI President Jerome Tan said the key growth drivers were the automotive market and the industrial equipment market, which grew by 13% and 16% respectively. “We are focusing on expanding the scope of production of systems from the electric vehicle sector that we recently won, and which are expected to help grow sales in the near future.” The company provides electronic manufacturing services in subcontracting (EMS).
According to 2021 data, it is estimated to be ranked 22nd in the world in the list of leading EMS service providers, and eighth in the field of manufacturing services for the automotive industry. Today the company employs nearly 16,000 people in the USA, Great Britain, Germany, Japan, Mexico, China, Serbia, Bulgaria, the Czech Republic and the Philippines. It fully owns two subsidiaries that it acquired in Europe: the British company STI Limited, which produces RF solutions, and the German company VIA optronics, which produces display solutions, including displays for the automotive industry.
To the company website: www.global-imi.com
Published in the categories: news, production and subcontracting
Posted in tags: EMS , IMI , electronic manufacturing
