According to people familiar with the matter, Apple supplier SZZN Precision Industry Group is considering selling its surface glass business for $1 billion, with a tender this week as soon as possible.
The person said that SZZN is working with a consulting company to find buyers. The company produces glass used in portable electronic devices and consumer electronics, which may attract interest from acquiring companies and other companies in the industry.
People familiar with the matter said that the company's annual income before interest, taxes, depreciation and amortization last year was approximately $120 million. The company's competitors include HNLS Optical Technology and SZBE Optical Technology.
Public information shows that SZZN uses scientific materials and precision engineering technology as a platform, focusing on the development of magnesium aluminum alloy, ceramics, glass, stainless steel, touch screens, titanium materials, high-end watch parts, etc. It has companies in Silicon Valley, Switzerland, and the United Kingdom. Master core technologies such as touch panels and metal injection molding, and are in a leading position in the industry.
SZZN has factories in Shenzhen, Guangzhou, Suzhou and other places, has more than 11,000 employees worldwide, and has modern workshops and advanced equipment production lines.