In the news release, Advantek and Winpack Forge Strategic Partnership to Enhance Global Packaging Solutions, issued 04-Nov-2024 by Advantek over PR Newswire, we are advised by the company that some language has been updated, including the contact information and the removal of the final paragraph. The complete, corrected release follows:

Advantek and Winpack Forge Strategic Partnership to Enhance Global Packaging Solutions

EDEN PRAIRIE, Minn., Nov. 4, 2024 /PRNewswire/ -- Advantek, LLC ("Advantek"), a leading provider of precision component delivery systems, today announced a strategic partnership with Jiangyin Winpack Tech Co., Ltd. ("Winpack"), a recognized provider of precision packaging solutions headquartered in China. Advantek's collaboration with Winpack's Eurasia group marks a significant step in aligning the strengths of both companies to serve global customers more effectively, while enhancing Advantek and Winpack's combined capabilities and reach.

Headquartered in Eden Prairie, Minnesota, Advantek operates manufacturing facilities in Taipei, Manila, Penang, Shanghai, Eau Claire (U.S.) and Laxå (Sweden). For over 40 years, Advantek's precision-engineered specialty packaging tape has supported the safe transport and presentation of high-value semiconductor and electronic components. These solutions play a vital role in assembling products such as computers, mobile phones, LED lighting, medical devices, smart appliances, automobiles, and various consumer products. In 2022, Advantek partnered with Cornell Capital, a U.S.-based private investment firm, to accelerate initiatives to provide customers with optimal efficiency and flexibility across a global manufacturing footprint.

Through this latest strategic partnership, Advantek will benefit from Winpack's established market presence, unlocking new high-volume opportunities and strengthening its global footprint, particularly in Asia. In turn, Winpack will gain access to Advantek's comprehensive range of products and technological capabilities, enabling Winpack to offer customers an expanded portfolio by utilizing existing product offerings and advanced design expertise.

"This strategic partnership represents an important step forward in aligning our group with a global customer base and ensuring we continue to deliver the same level of consistent product excellence and high-quality service," said Wim Goossens, President & CEO of Advantek. "By combining our strengths, we can better meet the evolving needs of the international market."

"Partnering with Advantek allows us to accelerate our capabilities in serving the entire market, including providing the most precise and clean tolerances in the carrier tape market," said Tim Lee, General Manager of Winpack. "We are excited to enhance our small form factor offerings and deliver the high degree of cleanliness that our customers demand."

"As a leading provider of packaging solutions globally, Advantek has been focused on growing its presence in key international markets," Allen Chu, Partner at Cornell Capital. "Through this partnership with Winpack, Advantek will be even better positioned as a best-in-class, global provider of precision component delivery systems, benefiting from Winpack's two-decade presence in China."

About Advantek
Advantek is a leading provider of precision component delivery systems with facilities in North America, Asia, and Europe. Advantek's solutions play an important role in the assembly process of products such as computers, mobile phones, LED lighting, medical components, smart appliances, and automobiles. For more information, visit https://www.advantek.com.

About Cornell Capital
Cornell Capital is a U.S.-based private investment firm with approximately $5.5 billion of AUM and offices in New York and Hong Kong. Leveraging decades of global investment experience, the firm takes a disciplined approach to investing across the industrials, business services, financial services, and consumer sectors, often in companies that can benefit from the firm's Asia presence and cross-border expertise. Founded in 2013 by Senior Partner Henry Cornell, the former Vice Chairman of Goldman Sachs' Merchant Banking Division, the firm is led by a highly seasoned team with significant shared investment experience. For more information, visit www.cornellcapllc.com.

For Media Inquiries:

Advantek:
George Carbone
Executive Vice President and CFO
+1 715-833-1677

Cornell Capital:
Kate Thompson / Erik Carlson / Madeline Jones
Joele Frank, Wilkinson Brimmer Katcher
+1 212-355-4449

 

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SOURCE Advantek