Aiwa Wales acquired by Sen Hong, saving 200 jobsChris DruceHong Kong based industrial investment company Sen Hong has purchased the Awia Wales manufacturing plant in Newbridge, South Wales, safeguarding the site’s 200 jobs.
Axiom Manufacturing Services, as the site will now be known, will continue to attempt to grow its share of the contract electronic manufacturing market (CEM) in the UK and Europe, and has the backing of the Welsh Assembly and the Welsh Development Agency.
“This agreement is good news for the business, its staff and our growing list of customers,” said Trevor Wilkinson, managing director of the Axicom plant. “It secures our future as a high quality provider of contract manufacturing to leading companies in the UK and Europe.”
Sen Hong said it had acquired the AWIA plant to expand the operations of the electronics side of its international portfolio, which already includes manufacturing capacity in Asia.
“This agreement keeps good quality manufacturing jobs in Wales, and our development plans create strong prospects for significant employment growth in the years ahead,” said Wilkinson.
Aiwa announced that its Welsh plant would be switching to contract electronics manufacturing (CEM) in June of last year, with the last of its company branded goods rolling off the production line during July, 2001. At the time, it said the move had been prompted by a decline in the hi-fi sector, the site’s main product, and the corresponding growth the CEM market was experiencing at the time.
Following its switch to CEM status the facility currently produces a range of medical, communications, security and audio products for blue chip customers.