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Mycronic AB develops solutions for electronics production. It operates in four segments: Pattern Generators, which develops, manufactures, and markets mask writers and measuring machines for the production of photomasks for displays; The High Flex division, which develops, manufactures, and markets surface mount technology (SMT) and inspection equipment, focusing on markets for flexible manufacture, in Europe and the USA; The High Volume division develops, manufactures and markets equipment for dispensing and conformal coating of circuit boards, with a focus on high-volume markets in Asia. The Global Technologies division's offering includes production solutions with high levels of differentiation.

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Cohu Divests Printed Circuit Board Test Group Business To Mycronic For $125M

Mycronic AB

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<ul>
	<li>Back-end semiconductor equipment and services provider,&nbsp;Cohu Inc&nbsp;(NASDAQ:&nbsp;<a class="editor-rtfLink" href="https://www.benzinga.com/stock/cohu#NASDAQ" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">COHU</a>),&nbsp;<a class="editor-rtfLink" href="https://www.benzinga.com/pressreleases/21/05/b21028622/cohu-announces-divestment-of-its-printed-circuit-board-test-business" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">inked an agreement to</a>&nbsp;divest its Printed Circuit Board Test Group (PTG) business to Swedish high-tech company&nbsp;Mycronic AB&nbsp;(OTC:&nbsp;<a class="editor-rtfLink" href="https://www.benzinga.com/stock/miclf#OTC" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">MICLF</a>) for $125 million.</li>
	<li>The PTG business reported sales of $52.9 million for the year ended March 27, 2021.</li>
	<li>Cohu will utilize $95 - $100 million of the sale proceeds for debt repayment.</li>
	<li>The combination of forces with Mycronic creates additional scale in the PCB market segment and greater opportunities for PTG&#39;s success in the future while enabling Cohu to focus on semiconductor equipment and services businesses, Cohu CEO Luis A. M&uuml;ller said.</li>
	<li>Price action:&nbsp;COHU shares closed higher by 2.91% at $38.86 on Friday.</li>
</ul>

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Latest Mycronic Stock News | OTC:MICLF | Benzinga

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