As part of a wide restructuring plan, Cookson Electronics, a division of Cookson Group plc., recently announced it is exiting and selling its equipment business. This decision will not affect the company’s materials businesses: Alpha Metals, Fry, Enthone, Polyclad Laminates and SCS (Specialty Coating Systems). The decision relates to Speedline Technologies and its product lines: MPM, Camalot, Electrovert and Accel.
Raymond P. Sharpe, president and CEO of Cookson Electronics, said, “Although Speedline has had a history of technological leadership, the intensity of recent cycles and variability in the equipment marketplace has led us to conclude that it is in the best interest of our customers and shareholders to sell this business and focus our resources on our core business of developing and producing advanced materials for both the electronics and surface finishing industries.”
Sharpe went on to say, “Our goal is to find a new owner focused on the electronics equipment market and that is better suited to support the ongoing needs of a leading high-tech capital equipment company such as Speedline. Because Speedline is a market leader in printers, dispensers, wave soldering, reflow and cleaning equipment with more than 36,000 systems in the field, we believe that there is a great opportunity here for a dedicated investor.“
“We are confident that this decision will have a positive impact on the remaining businesses of Cookson Electronics as we free up resources to expand our materials and process capabilities. What’s more, Cookson Electronics will seek to maintain strong technical cooperation with Speedline and its new owners to continue multiple joint R&D and process application projects both in SMT and semiconductor packaging.”
For more information, visit www.cooksonelectronics.com.