The deal is expected to expand Advantek’s manufacturing footprint and capabilities to support customers in Malaysia, Thailand, and Vietnam


Advantek has acquired Malaysia-based LKTT Plastic Technology. (Credit: Jo Szczepanska on Unsplash)

Precision component packaging provider Advantek has acquired Malaysia-based LKTT Plastic Technology for an undisclosed sum.

LKTT Plastic Technology is a complementary precision packaging provider and produces embossed carrier tape used for transporting components in the capacitor, LED, metal shield, and semiconductors industries.

It also provides carrier tape requirements such as plastic reel, cover tape, and tape and reel operations.

The firm’s experience and strong customer relationships across the ASEAN region will help US-based Advantek to expand its capabilities to support customers in Malaysia, Thailand, and Vietnam.

Advantek president and CEO Wim Goossens said: “Customer service, including local manufacturing capabilities, is a key component of Advantek’s long-term value-add proposition. Establishing a manufacturing footprint in Malaysia is an important step as we continue executing our strategic plans.

“I’m certain that by acquiring LKTT, we’ve expanded our team to include a group who shares our values of innovation and continuous improvement, while always prioritising customers.”

With headquarters in Eden Prairie, Minnesota, Advantek has facilities in North America, Asia and Europe.

It provides highly engineered specialty packaging tape to semiconductors and other electronic components providers to enable safe transportation of products for assembly, like computers, mobile phones, LED lighting, medical components, smart appliances, automobiles, and other consumer products.

The precision component packaging provider aims to offer its customers a full range of precision packaging materials using its global manufacturing footprint for optimal efficiency and flexibility.

To speed up these projects, Advantek teamed up with New York and Hong Kong-based private investment company Cornell Capital in 2022.

Commenting on LKTT deal, Cornell Capital partner Allen Chu said: “The acquisition of LKTT is an important milestone as Advantek looks to continue to expand its market-leading position by offering the highest quality product suite across the most comprehensive global footprint in the industry.”