HONG KONG -- ASM Pacific Technology has completed its acquisition of Siemens AG’s SMT placement machine unit.

The Siemens Electronics Assembly unit, also known as Siplace, will operate as a business unit under the name ASM Assembly Systems.

The Siemens group has 1,200 employees, about 700 employees at its Munich headquarters, with CEO Günter Lauber and COO Günter Schindler remaining in their roles. Transfer of legal ownership of the unit in China will be deferred pending official approval of the transfer of ownership by the Chinese authorities.