STANDEX ANNOUNCES CLOSING OF SANYU SWITCH CO., LTD. ACQUISITION

SALEM, N.H., Feb. 20, 2024 /PRNewswire/ -- Standex International Corporation (NYSE: SXI) confirms that it has closed on its previously announced acquisition of Sanyu Switch Co., Ltd. In its first year of ownership, the Company still expects the acquisition to be accretive to its earnings and to achieve a double-digit return on invested capital.

"Completing the acquisition of Sanyu Switch Co., Ltd. continues Standex's portfolio strategy of focusing on higher-margin businesses in faster growing markets," said Standex Chairman and CEO David Dunbar. "We look forward to building on the legacy established by Sanyu and its employees over the last 50 years."

About Standex

Standex International Corporation is a global multi-industry manufacturer in five broad business segments: Electronics, Engraving, Scientific, Engineering Technologies, and Specialty Solutions with operations in the United States, Europe, Canada, Japan, Singapore, Mexico, Turkey, South Africa, India, and China.  For additional information, visit the Company's website standex.com.

About Sanyu Switch Co., Ltd.

With corporate headquarters in Tokyo, Japan, Sanyu Switch Co., Ltd. designs and manufactures reed relays, test sockets, testing systems for semi-conductor and other electronics manufacturing, and other switching applications. The Company's primary manufacturing facility is in Kumamoto, Japan. For additional information, visit the Company's website at http://www.sanyu.co.jp.

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SOURCE Standex International Corporation