Paramit signs agreement to buy Lemtronics

Medical device and instrument manufacturing services provider Paramit has entered into an agreement with Lemarne to purchase its Malaysian-based manufacturing organisation, Lemtronics.

Lemtronics is an integrated electronic manufacturing service provider.

The transaction is subject to the approval of Lamarne's shareholders, which is expected to be finalised in mid to late November 2011.

Paramit CEO Billoo Rataul said the acquisition of Lemtronics gives Paramit a vehicle to offer medical device and instrument manufacturing services to the current and future customers in the Asian and European markets.