IGG, Hirex, Tecnologica and Top-Rel merge to form Alter Technology Group

Europe’s leading providers of high-reliability electronic components engineering, testing and procurement join forces

Note: Press release also available in French, German, Italian and Spanish.

United Kingdom, March 8, 2007 --ASDWire-- Europe’s four leading providers of high-reliability electronic component engineering, testing and procurement services for the space, defence, aeronautics and medical industries have merged under a newly created holding company, the Alter Technology Group. The Group comprises IGG Component Technology Ltd of Great Britain, Hirex Engineering of France, Tecnológica Ingeniería Calidad y Ensayos SA of Spain and Top-Rel SRL of Italy.

Photo caption : 
IGG, Hirex, Tecnológica and Top-Rel merge to form Alter Technology Group.  Pictured (left to right): Peter Higgs, Operations Director; Andrew Ferguson, Chief Financial Officer; Fernando Franco, Chief Executive Officer; Luis Gomez, Business Development Director.

IGG and Tecnológica merged in December 2006 and acquired Top-Rel in January 2007. Hirex was acquired by Tecnológica in 2001. Grouped together under the new holding company, the four organisations will work closely together whilst continuing to operate under their existing trade names.

Over the past 20 years, the companies have co-operated on a number of major European programmes. They will now follow a common, long-term strategy to position the Alter Technology Group as a strategic partner for their customers, which themselves are undergoing increasing levels of consolidation and globalisation.

Together, the four companies will provide a far more extensive range of services, much wider geographic coverage, increased flexibility and better value for money to customers in the space, defence, aeronautics and medical industries.

Customers will have access to almost 200 specialist experts, working in six state-of-the-art laboratories in France, Italy, Spain and the UK. Highly experienced teams can assist at any or every stage of a programme, from optimum component selection in the early design phases to ongoing obsolescence management and business process outsourcing.

The combined customer base of the Alter Technology Group includes an impressive list of major electronic equipment manufacturers, space agencies, scientific research institutes and Government organisations around the globe. The Group’s combined annual turnover is approximately €50 million. This is expected to grow significantly as the operational synergies between the member companies are realised.

The Group’s Board of Directors will be chaired by Sir Ralph Robins, a former Executive Chairman of Rolls-Royce plc and current Chairman of IGG. The founder and President of Tecnológica, Fernando Franco, will act as Chief Executive Officer.

Fernando Franco commented, “The Alter Technology Group will serve as a one-stop shop for any requirement, with its four member companies sharing expertise, capabilities and best practice to provide the optimum solution every time. There are strong synergies between the companies and as part of a group they will serve customers even better by providing an unrivalled range of services.”

Sir Ralph Robins added, “The Alter Technology Group possesses world-class expertise and resources. The four member companies each have an excellent track record and as part of the new group they will create more integrated, strategic customer partnerships.”