Tag: Advantek

Advantek Acquires LKTT Plastic Technology in Malaysia

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Transaction Expands Advantek’s Manufacturing Footprint to Support ASEAN Region

EDEN PRAIRIE, Minn. and PENANG, Malaysia, JANUARY 16, 2023 – Advantek, LLC (“Advantek”), a leading provider of highly engineered carrier tape and precision component packaging, today announced the acquisition of LKTT Plastic Technology Sdn. Bhd. (“LKTT”), a provider of complementary precision packaging based in Malaysia. Financial terms of the transaction were not disclosed.

Advantek is headquartered in Eden Prairie, Minnesota, and has manufacturing facilities around the world. For more than 40 years, Advantek’s highly engineered specialty packaging tape has enabled the world’s foremost providers of high-value semiconductor and other electronic components to safely transport and present products for assembly, including computers, mobile phones, LED lighting, medical components, smart appliances, automobiles, and other consumer products.

Advantek is committed to providing customers with a comprehensive suite of precision packaging materials across a global manufacturing footprint that provides clients with optimal efficiency and flexibility. During 2022, Advantek partnered with Cornell Capital, a U.S.-based private investment firm, to accelerate these initiatives.

LKTT has more than a decade of experience in carrier tape manufacturing with a focus on complex designs for connectors, shields, and other highly sensitive form factors. LKTT has strong customer relationships across the ASEAN region and will expand Advantek’s capabilities to support customers in Malaysia, Thailand, and Vietnam.

“Customer service, including local manufacturing capabilities, is a key component of Advantek’s long-term value-add proposition. Establishing a manufacturing footprint in Malaysia is an important step as we continue executing our strategic plans,” said Wim Goossens, Chief Executive Officer and President of Advantek. “I’m certain that by acquiring LKTT, we’ve expanded our team to include a group who shares our values of innovation and continuous improvement, while always prioritizing customers.”

“The acquisition of LKTT is an important milestone as Advantek looks to continue to expand its market-leading position by offering the highest quality product suite across the most comprehensive global footprint in the industry,” said Allen Chu, Partner at Cornell Capital.

 

About Advantek

Advantek is a leading provider of precision component delivery systems with facilities in North America, Asia and Europe. Advantek’s solutions play an important role in the assembly process of products such as computers, mobile phones, LED lighting, medical components, smart appliances and automobiles. For more information, visit www.advantek.com.

About LKTT

LKTT Plastic Technology is a manufacturer of embossed carrier tape used for transporting components in the capacitor, LED, metal shield, and semiconductors industries. LKTT serves as a one-stop-shop provider of carrier tape requirements like plastic reel, cover tape, and tape and reel operations. Based in Penang, Malaysia, LKTT was formed in 2010, following a spin out from LKT Plastic Technology. LKTT’s mission is to be the preferred carrier tape supplier in southeast Asia.

About Cornell Capital

Cornell Capital LLC is a U.S.-based private equity firm with ~$6 billion of AUM and offices in New York and Hong Kong. Leveraging decades of global investment experience, the firm focuses on North American middle market buyouts across the consumer, financial services, and industrials/business services sectors, often in companies that can benefit from global expansion through the firm’s Asia presence and cross-border expertise. Founded in 2013 by Senior Partner Henry Cornell, the former Vice Chairman of Goldman Sachs’ Merchant Banking Division, the firm is led by a highly seasoned team with significant shared investment experience. Since inception, Cornell has built a team dna partnership that are among the most diverse in the private equity industry. For more information, visit www.cornellcapllc.com.

 

Contacts:

Advantek
Jason Skrtic
Vice President Global Marketing and Product Management
+1 715-833-1677
jason.skrtic@advantek.com

Cornell Capital
Jon Keehner / Kate Thompson / Woomi Yun
Joele Frank, Wilkinson Brimmer Katcher
+1 212-355-4449

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For more information, visit www.advantek.com

Visit us at SMTconnect 2022

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Advantek will exhibit at SMTconnect in Nürnberg, Germany on May 10-12, 2022.

“SMTconnect is the only trade fair for electronic production in Europe that brings people and technologies from the areas of development, production, services, and the applications of microelectronic assemblies and systems together in an inspiring work atmosphere.”

Visit us at booth 345 in Hall 4 to learn more about our advanced line of carrier tape, cover tape, reels, and more.

To read more about SMTconnect, visit here.

Industry News: Global Governments Ramp Up Pace of Chip Investments

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The global race for countries to advance their own semiconductor capabilities and capacity is ramping up. The strategic significance of semiconductors and their ever-increasing importance for economic competitiveness and supply-chain resilience has become a focus for governments worldwide. Read more:

Industry News: Chip shortage continues

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As the chip shortage continues to impact the global electronics market, there has been a steady flow of articles describing the situation and how we got here. One of the best articles we have found is from Bloomberg. It provides excellent information on the evolving demand for chips, supply chain issues, the manufactures, and the end markets factors. To read all about it, visit:

www.bloomberg.com/graphics/2021-semiconductors-chips-shortage/

SEMICON Southeast Asia – 2019

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SEMICON Southeast Asia has become an important exposition for the electronics industry in Southeast Asia. Southeast Asia is quickly becoming a major contender as a world-class electronics manufacturing hub. The show allows experts and world leaders in the industry to connect and share their advancements and new technologies. SEMI is committed to connecting members with the goal to create new markets and meet common industry challenges.

SEMICON Southeast Asia 2019 will be held May 7-9, located at the The Malaysia International Trade and Exhibition Centre (MITEC) in Kuala Lumpur, Malaysia. Visit Advantek’s booth, 1316, to learn more about our advanced solutions for BARE DIE, LEDs, WLFOP, MEMs, and emerging package requirements for automotive, IoT, and high-performance computing applications. Advantek offers the most complete carrier tape solution in the industry–high precision carrier tapes, cover tapes, packaging reels, moisture barrier bags, and more.

For more information on SEMICON Southeast Asia 2019, visit here.

SMT Hybrid Packaging Conference – 2018 (Voucher Redemption)

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Advantek will exhibit at the SMT Hybrid Packaging Conference in Nuremberg, Germany on 5-7 June 2018.

If you received a show voucher from Advantek, please click the link at the bottom of this announcement for your registration to SMT Hybrid Packaging 2018. Visit us at booth 226 in hall 4 to learn more about our advanced line of carrier tape, including high precision tape for bare die, cover tape, reels, and more. If you would like to receive a voucher, please contact your Advantek sales office.

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Advantek Taiwan Gives Back to Families in Need

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In today’s global economy, it’s becoming increasingly important for businesses to be present in the communities where they operate. In 2017, as part of Advantek’s Corporate Social Responsibility program, the company committed to giving back to help drive social and environmental change.

Last summer, Advantek Taiwan decided to reach out into their surrounding communities in a meaningful way. The branch joined forces with United Way of Taiwan. United Way is a national Social Welfare Group. They work on building communities by engaging all who need help, especially families living in the countryside, that might be overlooked.

With the help of the organization, Advantek Taiwan reached out to approximately 40 families with children who could benefit from the help of United Way’s resources and assistance.

Depending on each family’s needs, Advantek Taiwan Human Resources prepared packages that contained daily necessities and supplies that Advantek staff personally delivered to each family. Due to summer vacation from school, most of the families were not able to look after their children during the day and could not afford childcare. United Way offered each family childcare and Advantek funded daily lunches for the children. As a final activity, Advantek volunteers took the children to the Taipei Children’s Amusement Park for a one-day outing–a very special treat for children from low-income families.

“The purpose of this project was to assist families materially and spiritually,” says Brenda Feng, Human Resources Manager for Advantek Taiwan. “We wanted to instill hope, increase confidence, and help the families remain positive in the face of major challenges. We wanted to share the principles of Advantek and help–from the outside and the inside, too.”

For more information, contact Josie Parker at josie.parker@advantek.com.

Advantek Releases Newly Enhanced Trimline Packaging Reel

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EDEN PRAIRIE, Minnesota, USA. 19 April 2018—Advantek, Inc., the world’s leading provider of precision component packaging systems, recently added an enhanced packaging reel to their advanced line of products. The new reel is economical and stronger than the previous generation—confidently designed to package and protect all types of components.

The newly released product is an improved 13-inch Trimline LOKREEL®. The reel is an enhanced version of Advantek’s previous Trimline reel—offering a variety of new features.

This new Trimline LOKREEL® balances strength and cost. It contains larger and stronger bridges—providing increased strength and solidity. The durability promises to protect every component it carries. In additional to strength, the new Trimline LOKREEL® comes at a more affordable cost compared to other reels in the company’s collection.

“The new 13-inch Trimline LOKREEL® is an exceptional choice when price is a key concern,” says Linger Lui, Manager of Product Development at Advantek. “It offers an excellent balance between structural integrity, lower weight, and lower cost.”

The new reel joins Advantek’s broad collection of reels designed to meet to their customer’s needs. It joins the company’s large offering of 7”, 13”, 15” and 22” packaging reels. Keeping a wide array of growing customers in mind, the company continues to research options that fit all kinds of packaging needs.

“We are always improving our products and technologies,” says Tim Hemken, Director of Business Development at Advantek. “We work hard to meet all of our customer’s current needs, but we understand their markets and demands are always changing. We are excited to provide new solutions for their future product needs.”

For more information, contact:

Linger Liu, Manager, Product Development, Advantek, Inc.
+86 21 50484588 ext.220 – linger.liu@advantek.com

Tim Hemken, Director, Business Development, Advantek, Inc.
+1-952-988-8551- tim.hemken@advantek.com

About Advantek, Inc.

Advantek carrier tape safeguards the delivery of delicate components for computers, mobile phones, LED applications, medical devices, smart appliances, automotive systems and other technological products.

Advantek is a wholly-owned subsidiary of Robert Family Holdings (RFH) since 1992. RFH is a privately-held, family business with origins dating to 1946. RFH is focused on growth management and acquisition of high-value manufacturing companies. Identification of growth opportunities, technological development, and commitment to customers are the core elements of the RFH strategy.

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