The Bulgarian subsidiary of Integrated Micro-electronics Inc. (IMI) has acquired land and a building in the town of Botevgrad to meet its expansion targets, the parent company has revealed.

IMI, one of the leading worldwide providers of electronics manufacturing services (EMS) and power semiconductor assembly and test services, said in a statement on Wednesday that Integrated Micro-electronics Bulgaria (IMI BG) has entered a deal to acquire a plot of land and a building in Botevgrad, in western Bulgaria, for EUR 1.14 M from Melexis Bulgaria (MB).

The property has a total land area of 16,275 square meters (sqm.) and a total built-up area of 12,193 sqm, IMI said.

IMI President and CEO Arthur Tan commented: “This new development augurs well for IMI BG. With additional capacity, IMI BG can service more OEM [original equipment manufacturer] requirements, especially in its fast-growing target markets of automotive and industrial electronics.”

According to Tan, the acquisition reinforces the strong position of the IMI Bulgaria in winning new businesses enhancing the group’s strategy of providing long lasting partnerships to its customers.

IMI BG’s revenue increased by 29% last year, reaching USD 188.3 M. The Bulgarian subsidiary has built 3,150 sqm. from greenfield in the last two years and another 6,900 sqm. will be completed by end of the first quarter of 2016, according to the statement.

IMI provides EMS and power semiconductor assembly and test services (SATS) for diversified markets including those in the automotive, industrial, medical, solar energy, telecommunications infrastructure, storage device, and consumer electronics industries. The group has manufacturing facilities in Asia, Europe and North America.