Cicor has successfully completed the acquisition of TT Electronics IoT
Solutions Ltd. and becomes the leading provider of high-end electronics in the
UK

   Cicor Technologies Ltd / Key word(s): Mergers & Acquisitions
   Cicor has successfully completed the acquisition of TT
   Electronics IoT Solutions Ltd. and becomes the leading provider
   of high-end electronics in the UK
   02.04.2024 / 07:00 CET/CEST
     ____________________________________________________________

   
   Bronschhofen, April 2, 2024 - The Cicor Group (SIX Swiss
   Exchange: CICN) has successfully completed the acquisition of TT
   Electronics IoT Solutions Ltd. with three production sites in the
   UK and China.

   The combination of the sites acquired from TT Electronics PLC
   with the Cicor companies Axis Electronics (integration 2021) and
   STS Defence (integration 2024), will create the new leader in the
   UK EMS market and in addition make Cicor a European market leader
   in the production of high-end electronics for aerospace and
   defence applications. With this transaction Cicor has taken
   another step forward in implementing its strategy to become the
   European leader in electronics manufacturing services for medical
   technology, industry, aerospace and defence.
   TT Electronics IoT Solutions Ltd. employs more than 500 people at
   its sites in Hartlepool and Newport in the UK and Dongguan in
   China and has a total production area of around 25,000 square
   meters. In the last financial year, sales of GBP 70.2 million
   were achieved by the acquired entities with a mid-single-digit
   operating margin (adjusted EBITDA). Cicor expects that after
   completion of the integration process, the EBITDA margin of the
   acquired businesses will be raised to a level close to the rest
   of the Cicor Group. The acquired UK production sites provide the
   much-needed growth reserves for local production. The production
   site in Dongguan will be integrated into the Cicor Group's Asian
   production network.

   Contact
   Cicor Management AG
   Gebenloostrasse 15
   CH-9552 Bronschhofen

   Media & Investor Relations
   Phone +41 71 913 73 00
   E-mail: media@cicor.com

   The Cicor Group is a globally active provider of full-cycle
   electronic solutions from research and development to
   manufacturing and supply chain management. Cicor's approximately
   3,200 employees at 20 locations are serving leaders from the
   medical, industrial and aerospace & defence industries. Cicor
   creates value to its customers through the combination of
   customer-specific development solutions, high-tech components, as
   well as electronic device manufacturing. The shares of Cicor
   Technologies Ltd. are traded at the SIX Swiss Exchange (CICN).
   For further information, please visit the website www.cicor.com.

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   End of Media Release
     ____________________________________________________________

   Language:    English
   Company:     Cicor Technologies Ltd
                c/o Cicor Management AG, Gebenloostraße 15
                9552 Bronschhofen
                Switzerland
   Phone:       +41719137300
   Fax:         +41719137301
   E-mail:      info@cicor.com
   Internet:    www.cicor.com
   ISIN:        CH0008702190
   Valor:       870219
   Listed:      SIX Swiss Exchange
   EQS News ID: 1870007

   End of News EQS News Service
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1870007 02.04.2024 CET/CEST