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Switzerland's Cicor buys sites from Valtronic, securing US foothold
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Switzerland's Cicor buys sites from Valtronic, securing US foothold
Oct 28, 2025 1:11 AM

ZURICH, Oct 28 (Reuters) - Swiss electronics company

Cicor said on Tuesday it has agreed to acquire two

production sites from Swiss peer Valtronic in Cleveland, Ohio,

and in Morocco, which gives the firm its first U.S. location and

expands its capacity in the African country.

Cicor did not detail the value of the transaction, but said

it would grow by around 220 employees and gain added revenue of

at least 20 million Swiss francs ($25 million), which could

roughly double thanks to new customers in the U.S. business.

"This move meets the needs of Cicor customers to produce in

the USA," said Cicor in a statement, noting the move would

strengthen its medical technology business in the United States.

"Setting up its own factory in the USA would have involved

considerably higher investment and start-up costs for Cicor."

The Valtronic site being purchased in Berrechid, Morocco, is

in the same building as a facility Cicor acquired from France's

Eolane earlier this year and will double the Swiss company's

capacity at the location, it said.

Swiss companies currently face 39% tariffs to export goods

into the United States. The Swiss government is working to try

to secure lower tariffs with the Trump administration.

The current U.S. tariff rate on Morocco is 10%.

($1 = 0.7931 Swiss francs)

(Writing by Dave Graham

Editing by Ludwig Burger)

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