Elco Group, an Italian company in the sector of high technology printed circuit boards, owned by the Italian Investment Fund (Fii), announced an agreement to acquire a majority stake in the Dutch competitor PCB Ramaer, with headquarter in Helmond (Eindhoven), which will allow the Elco Group to consolidate its position in the European. From ELCO PCB as union of the two companies, which will continue to operate with their own brands, will arise the one of the largest European operators in the sector, with around €45 million turnover, 450 employees in five countries (Italy, France, Spain, Holland and China) and beyond 500 customers, including Siemens and Finmeccanica.
Based in Carsoli (Abruzzo), the Elco Group was founded in 1970 and has turnover of €25/30 million, employs 350 people in Europe and China, and is one of the top 15 European companies of high technology printed circuit boards produced in small series (multilayer, HDI and Flex-Rigid), while China and the Far East compete on the low/medium technology with the larger series.
Ramaer, was born in 1961, has 100 employees and a turnover of approximately €20 million, has acquired a strong position in Northern Europe through fully automated production facilities producing with a cutting-edge of technology.
The Italian Investment Fund (Fii), chaired by Innocent Cipolletta and led by its CEO Gabriele Cappellini, has invested in Elco in late 2011 by acquiring minority in the company for €5 million.
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