The Tecan Group announced that it has successfully completed the acquisition of a supplier of key parts. On March 22, 2019, Tecan announced the acquisition of a long-term supplier to vertically integrate the manufacturing of critical precision-machined parts. With two manufacturing sites, one in California, USA, and a second site in Vietnam, Tecan will be able to benefit from the long-term supply of high quality precision-machined parts and realize cost savings by internalizing their supply. Today, Tecan already is the largest customer of this supplier, making up for a significant share of revenues.
From June 1, 2019, the supplier will be included in the consolidated financial statements of the Tecan Group as a part of the Partnering Business segment.