Siemens buyout saves 200 jobs in Nottingham Chris DruceA management buyout has saved 200 jobs at Siemens' Beeston, Nottingham site.
The factory is sole producer of the Realitis DX business communications system for Siemens, but over the last four years it has moved into the contract electronic manufacturing (CEM) business. CEM work now makes up 70 per cent of total production.
As part of Siemens' ICM division, Beeston's
change in emphasis was thought to have placed it at risk as the German firm reduces the number of its factories worldwide.
"We decided to pre-empt any possible sale as the uncertainty was causing problems at our CEM business," said Mike Harby, managing director of newly named SMS Electronics.
The new entity, SMS Electronics, continues to cover the development, test and manufacture of low-volume, high value-add PCBs for the consumer, defence and leisure
markets.
"We specialise in complex assembly and avoid automotive and PC boards, which are high volume and low cost," said Harby. "Typically uses of our products are in satellite communication or medical systems."
Harby said the company would continue its aggressive assault on the CEM market, maintaining a balance rather than specialising in one particular area.
"Four years ago we operated only in telecoms," said Harby, "but following recent events in the electronics industry we're conscious we don't want to be dependent on just one."
The Royal Bank of Scotland supplied backing for the deal with KPMG acting as advisor. The value of the deal was not disclosed.
SMS Electronics will continue to supply the Realitis system to Siemens.