BizLink strengthens its position in the automotive market with the acquisition of Jo Yeh Co., Ltd.
Oct. 31, 2016—BizLink Holding Inc., a leading supplier of interconnect solutions, announced today the acquisition through a share deal of Hong Kong based Jo Yeh Co., Ltd—a manufacturing company specializing in harnesses for Japanese car manufacturers —for USD 3 million (approx. NTD 100 million). The acquisition was signed on September 2nd, 2016 and finalized October 31st, 2016.
Jo Yeh Co., Ltd was founded in 1994 and its manufacturing facility in Foshan, Guangdong Province, PRC, has a 22-year track record of supplying automotive lead wires, wire harnesses, and cable assembly to discerning Japanese car brands. BizLink will vertically integrate Jo Yeh's existing infrastructure and know-how to expand BizLink's automotive product lines, while leveraging its customer relations to further increase BizLink's share of the automotive wire harness market.
Roger Liang, Chairman of BizLink's Board of Directors expressed BizLink's strong focus on the automotive industry through this purchase. "The acquisition of Jo Yeh Co. is our first M&A deal since BizLink went public and is also a step towards our goal of providing complete harness solutions to service the automotive market. Jo Yeh has vast experience in the automotive harness industry as a long-term supplier of key components, wires, and parts for Japanese brands with end customers across Southeast Asia and Chinese automotive markets. We look forward to integrating Jo Yeh into our existing supply chain and production capabilities to develop more diverse and complete automotive product lines and solutions. Additionally, I believe that we are uniquely positioned to complement each other's resources to reach synergies in customer services and acquisition."
BizLink Holding Inc.'s long-term development strategy is to create value for both customers and shareholders by nurturing the stable growth of product lines and relationships. BizLink will continue to grow both organically and through the integration of external resources to achieve this goal.