OULU, FINLAND – Scanfil has announced a new growth strategy that will seek acquisitions, as well as a division into three new business segments.

Over the past three years, the company has pushed for organic growth, but it is now shifting to seek a balance between organic and inorganic growth, and grow through potential acquisitions that would complement its customer base and factory network in Asia (outside of China), North America and Eastern Central Europe.

The company will also work to accelerate its organic growth by moving to three business segments: Industrial, Energy & Cleantech and Medtech & Life Science. Industrial was formed by combining its previous three segments: Advance Consumer Applications, Automation & Safety and Communications.

"Segmentations clarify roles and further enhance sales growth for all business segments. To drive factory specific sales, we still have local sales people," said CEO Christophe Sut. "We can drive our sales more efficiently by re-organizing it and also incentivizing it through specific customer groups."

Scanfil said it is also placing an emphasis on sustainability, and is committed to the Science Based Targets in the short-term 2030 and long-term “Net Zero” 2050, as well as preparing for the Corporate Sustainability Reporting Directive (CSRD) and the European Sustainability Reporting Standards (ESRS) with full speed.

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