New Delhi, 04 January 2023: The Amber Group, a home-grown manufacturing major, and a diversified B2B electronic manufacturing services (EMS) company, has today entered into definitive agreements with Ascent Circuits Pvt. Ltd (“Ascent”) to acquire 60% stake in Ascent. The acquisition has been affected through ILJIN Electronics, a part of Amber Group company.
Ascent Circuits, a South India based home-grown company is a leading player engaged in the manufacturing of Printed Circuit Boards (Single-sided, double-sided, multi-layered and RF PCB) catering to marquee customers such as ISRO, BEL, BHEL, Automotive, Telecom, Consumer Electronics clients both multinational & domestic. The company provides solutions for various applications such as Aerospace & Defence, Medical, Energy Solutions, Automotive, Telecom, Data Centres, Consumer Electronics, IT, Lighting etc. The company also exports its products to global markets.
This acquisition will help Amber strengthen its EMS portfolio by increasing its local value addition and backward integration into passive components of PCB Assemblies. This is in sync with the ‘Make in India’ and ‘Atmanirbhar Bharat’ vision of the Government of India and is in line with the group’s strategy of strengthening backward integration for its electronics (EMS) play into various applications such as Aerospace & Defence, Medical, Telecom, Consumer Electronics and Automotive.
Enthused by the Government’s encouraging policy framework for domestic manufacturing, Amber plans to expand its portfolio in the electronics (EMS) space by further strengthening its R&D and PCBA manufacturing capabilities through backward integration of Bare PCB Boards. This uniquely positions Amber as a leading player in the electronics EMS space even as the sector is poised for double-digit growth in FY’25 and beyond.
The Amber Group, a diversified manufacturing major operates across three business verticals spanning consumer durables, EMS and Railway subsystems and mobility. While the consumer durables vertical comprises RAC (room AC) finished goods, room AC components including motors and non-room AC components, the EMS business (ILJIN Electronics & EVER Electronics) delivers solutions in telecom, automotive, smart energy meters, consumer electronics and appliances, hearables and wearables. Another important vertical for the group pertains to Railway sub systems & mobility. Amber provides integrated solutions to rolling stock customers for HVAC, Doors, Gangways, and Pantry Systems catering to the mobility sector, namely Indian Railways, Metro, RRTS and also buses. Besides this, it also provides solutions in the segment of Defence.
