Advantek acquires Malaysian packaging company LKTT Plastic Technology
Advantek, an American provider of carrier tape and precision component packaging, has acquired LKTT Plastic Technology, a Malaysian provider of precision packaging, for an undisclosed price.
LKTT Plastic Technology is said to have over 10 years of experience in carrier tape manufacturing. The company focuses on complex designs for shields, connectors, and other highly sensitive form factors.
It manufactures embossed carrier tape, which is used for transporting components in the capacitor, metal shield, LED, and semiconductors industries.
With the customer relationships it has across the ASEAN region, LKTT Plastic Technology is expected to grow Advantek’s capabilities in supporting customers in Malaysia, Vietnam, and Thailand.
Wim Goossens — Advantek CEO and President said: “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.
“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.”
Acquired by Cornell Capital in 2022, Advantek has facilities in North America, Europe, and Asia.