Carrier tape maker Advantek acquires LKTT Plastic Technology in Malaysia

In a move that expands its footprint in the ASEAN region in Southeast Asia, specialty packaging tape maker Advantek LLC is acquiring Malaysia-based LKTT Plastic Technology.

The financial terms of the deal have not been disclosed.

Founded in 2010, LKTT supplies carrier tape with a focus on complex designs for connectors, shields, and other highly sensitive form factors, officials with Eden Prairie, Minn.-based Advantek said in a Jan. 15 news release. “LKTT has strong customer relationships across the ASEAN [Association of Southeast Asian Nations] region and will expand [our] capabilities to support customers in Malaysia, Thailand and Vietnam,” the release added.

Advantek has global operations that manufacture specialty packaging tape for semiconductors and other electronic components, for use in computers, mobile phones, LED lighting, medical components, smart appliances, automobiles, and other consumer products.