ANN ARBOR, MI -- Volvo Technology Transfer AB of Göteborg, Sweden, has finalized an investment in Coherix Inc. to accelerate the launch of Coherix’s European operations. Coherix develops high-tech systems to improve engine-manufacturing quality.
The investment is part of a comprehensive, global expansion program launched by Coherix earlier this year, according to Dwight Carlson, the company’s chairman and CEO. Financial terms of the investment were not disclosed.
“We believe that Coherix will be a very good investment for us,” said Anders Brännström, CEO of Volvo Technology Transfer AB. “The requirement for increased precision in engine manufacturing, as an example, will require in-line process control, and Coherix technology makes this possible.”
Volvo Technology Transfer AB is a Volvo Group corporate venture capital company. Volvo Group is a heavy-duty truck and diesel-engine manufacturer with its largest markets in Europe and North America and a strong global network. For more than 80 years, Volvo Group has provided transportation-related products and services with a focus on quality, safety and environmental care.
“Coherix technology is in use at automotive manufacturing facilities throughout North America and also is well-known within the semiconductor industry, especially in China and the Asia Pacific region,” Carlson noted. “Our new, strategic relationship with Volvo Technology Transfer AB will enable us to further expand in Europe.”
Coherix is a privately-held supplier of high-tech optical-based measurement and inspection products for the automotive and semiconductor industries. It supplies high-definition measurement products to customers in the semiconductor and automotive industries for the management of precision manufacturing processes.
Coherix’s products are in operation around the world for companies such as Honda, BorgWarner, General Motors, Ford, Chrysler, Bosch and TRW, as well as with multiple semiconductor manufacturers