Catcher Technology, a key provider of metal frames for iPhones, has agreed to sell two businesses in China to Lens Technology, joining a cohort of Taiwanese companies in diversifying away from the country and adding production capacities elsewhere amid worsening ties between Washington and Beijing.
Lens Tech will pay cash for the two units located in the eastern Chinese city of Taizhou and the transaction is expected to be completed before the end of this year pending government approval, reported Bloomberg.
Topo Technology and Meeca Technology were founded in 2012 and 2016 as wholly owned subsidiaries of Lyra International indirectly held by Catcher. The two companies are leading smartphone metal casing manufacturers that mainly engage in the production, sale, and development of numerous alloy products that provide top-tier customers with turnkey solutions to integrate leading technologies and production processes.
Catcher will continue its focus on developing current product lines, i.e. notebook and tablet casings, through investments in research & development by optimizing manufacturer technologies and product cost structures.
Full Content: Bloomberg
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