SALEM,
N.H., Feb. 20, 2024 /PRNewswire/ -- Standex
International Corporation (NYSE:SXI) confirms that it has
closed on its previously announced acquisition of Sanyu Switch Co.,
Ltd. In its first year of ownership, the Company still expects the
acquisition to be accretive to its earnings and to achieve a
double-digit return on invested capital.
"Completing the acquisition of Sanyu Switch Co., Ltd. continues
Standex's portfolio strategy of focusing on higher-margin
businesses in faster growing markets," said Standex Chairman and
CEO David Dunbar. "We look forward
to building on the legacy established by Sanyu and its employees
over the last 50 years."
About Standex
Standex International Corporation is a global
multi-industry manufacturer in five broad business segments:
Electronics, Engraving, Scientific, Engineering Technologies, and
Specialty Solutions with operations in the United States, Europe, Canada, Japan, Singapore, Mexico, Turkey, South
Africa, India, and
China. For additional information, visit the Company's
website standex.com.
About Sanyu Switch Co., Ltd.
With corporate headquarters in Tokyo,
Japan, Sanyu Switch Co., Ltd. designs and manufactures reed
relays, test sockets, testing systems for semi-conductor and other
electronics manufacturing, and other switching applications. The
Company's primary manufacturing facility is in Kumamoto,
Japan. For additional information,
visit the Company's website at http://www.sanyu.co.jp.
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SOURCE Standex International Corporation