MFS Technology

What MFS Technology does

MFS Technology (S) Pte Ltd is a Singapore-incorporated private company founded in 1988 that designs and manufactures printed circuit applications, specifically Flexible Printed Circuits (FPC), Rigid PCBs, and Rigid Flex circuits. Its manufacturing spans Malaysia (Melaka) and China (Changsha, Hunan; Yiyang, Hunan), with the Yiyang facility delivering 300,000 sqm/year of automated double-sided roll-to-roll production under a Class-1000 cleanroom. Technology capabilities include ultra-thin HDI FPC at 25 µm line/space with 50 µm micro vias, heavy copper PCBs up to 10 oz and 32 layers, embedded copper coin thermal management, and rigid-flex constructions of 1–12 layers, complemented by value-added CAD design, DFx, Polar Si8000 + XFE simulation, SMT assembly, and customized testing.

The company operates a B2B enterprise field-sales model with Early Supplier Involvement (ESI), in which sales and R&D teams collaborate with customers from the design stage. Pricing is quote-based against customer specifications with multi-year contracts; revenue is generated from hardware sales (FPC/PCB/Rigid Flex) and professional services (assembly, DFx, testing). MFS serves more than 200 global blue-chip multinational customers across Automotive (IATF 16949), Medical (ISO 13485), Industrial, Consumer Electronics, Telecommunication, Data Storage, and Aerospace, with regional sales/support offices in Shanghai, Chengdu, Stuttgart, and North America.

In February 2026 MFS acquired SunPower Malaysia Manufacturing Sdn. Bhd. from Maxeon Solar Technologies, adding solar manufacturing capacity with approximately USD 59.9 million in total assets. The company is privately held, with no public listing, and is led by Tan Ee (CEO), Akira Nakayamada (Chairman and CEO), and Janny Zhang (CFO); Novo Tellus Capital Partners appears on the cap table from a 2014 round. Revenue is not publicly disclosed.

Name

MFS Technology

Legal name

MFS Technology (S) Pte Ltd

Website

https://mfstech.com.sg

Company type

Private

Founded year

1988

Operating status

Operating

Headcount range

51–100 employees

Short description

MFS Technology is a Singapore-based private manufacturer of flexible printed circuits, rigid PCBs, and rigid-flex circuits founded in 1988, serving more than 200 global blue-chip customers across automotive, medical, industrial, consumer, and aerospace end markets via Asian manufacturing and global sales offices.

Ownership category

akta.pro rank

Product category

Printed Circuit Board Manufacturing

NAICS

Bare Printed Circuit Board Manufacturing (334412)

SIC

Printed Circuit Boards (3672)

akta.pro primary industry

PCB Fabrication (Flex & Rigid-Flex PCBs) (HDAHAOAH)

akta.pro secondary industries

Printed Electronics & Advanced Substrates (HDI, IC Substrates, Embedded Components) (HDAHAOAK), Industrial PCB & Substrate Components (Bare PCBs, rigid-flex, ceramic substrates, thick-film) (IMAGAJAM)

Keywords

• Flexible printed circuits
• Rigid PCB manufacturing
• Rigid flex circuits
• Heavy copper PCB
• Turnkey assembly services

Headquarters

HQ city

Singapore

HQ country

Singapore

HQ region

Asia

Offices8 records

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

Personnel, Operations, Supply Chain, Infrastructure, Technology or R&D, Marketing or Sales

Revenue model

1. Printed Circuit Manufacturing and Sales: MFS generates revenue through manufacturing and distribution of Flexible Printed Circuits (FPCs), Rigid PCBs, and Rigid Flex circuits. The company serves diverse market segments including Automotive, Industrial, Medical, Consumer, Telecommunication, Mobile, and Aerospace with both standard and customized products.
2. Assembly and Manufacturing Services: Turnkey component assembly services and module level integration including CAD design, circuit routing, DFM/DFx services, SMT assembly, and customized testing services. Revenue generated through value-added services complementing circuit manufacturing.

Pricing tiers

Go-to-market motion1 record

Distribution channels1 record

Marketing channels3 records

Core offering

MFS Technology designs and manufactures Flexible Printed Circuits (FPC), Rigid PCBs, and Rigid Flex circuits serving automotive, industrial, medical, consumer electronics, telecommunication, mobile, and aerospace OEMs. The company complements its circuit portfolio with value-added turnkey assembly services, CAD design and routing, DFM/DFx engineering, Polar Si8000 + XFE circuit simulation, and customized testing. Manufacturing spans 51-100 employees across strategically located facilities in Singapore, Malaysia (Melaka), and China (Changsha, Yiyang) with regional sales offices in Europe and North America.

Product overview

MFS Technology is an innovation leader and pioneer in printed circuit applications with over 30 years of experience. The company offers a comprehensive portfolio of Flexible Printed Circuits (FPC), Rigid PCBs, and Rigid Flex Circuits, complemented by value-added services including turnkey assembly, CAD design/routing, circuit simulation (Polar Si8000 + XFE), and customized testing. The product range spans from ultra-thin HDI FPCs with fine pitch circuitry (50μm) to heavy copper PCBs up to 10oz and 32 layers, serving diverse market segments including Automotive, Industrial, Medical, Consumer, Telecommunication, Mobile, and Aerospace applications.

Differentiator

Problem solved

Functional benefit

Products and services

• Flexible Printed Circuit (FPC) Flexible Printed Circuit consisting of conducting copper foil layers and insulating dielectric layers (PI/PET/PEN/LCP) that can be bent for specific applications. Available in single-sided, double-sided, multi-layered, single-side-double-contact, and bare-backed variants for automotive, industrial, medical, consumer electronics, telecommunication, mobile, and aerospace OEMs.
• Rigid Flex Circuit Hybrid construction combining flexible and rigid substrates laminated together into a single structure with plated through-hole interconnections. Supports 1-12 layers, board thickness from 0.20mm to 2.4mm, with blind/buried via plating, impedance control, and static/multiple bending capabilities. Designed for applications requiring mechanical flexibility in confined spaces.
• Heavy Copper PCB Rigid PCB with heavy copper construction featuring copper thickness up to 10oz and up to 32 layers, with controlled-depth drilling/routing and ±10% impedance control. Designed for power management, planar transformers, and energy conversion applications.
• Rigid PCB Rigid printed circuit board with heavy copper construction featuring 10oz copper thickness and up to 24 layers. Includes buried and blind via capabilities, fine-pitch BGA support, low DK/DF materials, copper/silver paste via filling, and resin plug + copper plating processes. Used in automotive, power, industrial, energy, and planar transformer applications.
• Embedded Copper Coin PCB PCB with embedded copper coin technology for enhanced heat dissipation, thermal simulation, and reliability. Features embedded I-coin with ENIG finishing and coin inner flatness control under 30µm. Incorporates 2.5D cavity technology to enhance PCB thermal management and reduce overall assembly thickness for high-power applications.
• Assembly Services Turnkey component assembly service including SMT (Surface Mount Technology), through hole, hand assemblies, box build, and a full range of testing services. Also covers component qualification, sourcing of heatsinks, plastics, heater flex, and customized testing with dedicated assembly lines for special product and manufacturing requirements. Includes ACP/ACF bonding capabilities (CMOS, FOG, FOF, FOB) and various component types such as switches, microphones, camera bases, LEDs, filters, resistors, capacitors, and sensors.
• CAD Design and Routing Services Comprehensive Computer-Aided Design (CAD) and circuit routing services including DFM (Design for Manufacturability) file preparation and iteration with customers for design optimization. Provided as a flexible design and engineering service to support customer product development.
• Polar Si8000 + XFE Circuit Simulation Flexible circuit simulation using Polar Si8000 + XFE software for product stackup analysis and verification of electrical requirements. Provided as a specialized service to validate impedance and signal integrity characteristics before manufacturing.
• Customized Testing Services Customized testing services and dedicated assembly lines for special product and manufacturing requirements. Full range of testing services complementing SMT and through-hole assembly, including special product qualification and dedicated assembly line provisioning.

Quantifiable outcome

• Fast prototype turnaround-time performance
• +2 more outcomes

Named customers6 records

Segments7 records

Ideal customer profiles6 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature6 records

Partnerships

One partnership is on record.

• Maxeon Solar TechnologiesminorStrategic or Co-development Partner · 13 February 2026MFS Technology acquired 100% equity interest in SunPower Malaysia Manufacturing Sdn. Bhd. from Maxeon Solar Technologies. The transaction closed on February 13, 2026 pursuant to a Share Sale and Purchase Agreement entered into on January 23, 2026. The Malaysian manufacturing facility (approximately USD 59.9 million in total assets) becomes part of MFS's manufacturing footprint as part of Maxeon's portfolio restructuring and strategic realignment.

Scale indicators6 records

Recent moves6 records

Expansion highlights5 records

Broad incumbents

• Unimicron Technology: Taiwan-listed PCB and IC substrate leader with HDI, rigid-flex, and substrate capabilities serving global electronics OEMs. A broader incumbent competing in many of MFS's end markets at significantly greater scale.
• AT&S (Austria Technologie & Systemtechnik): Austria-headquartered global PCB and IC substrate manufacturer serving automotive, industrial, and medical customers. Overlaps with MFS in high-end automotive and medical PCB applications at a much larger scale.

Direct peers

• Flexium Interconnect: Taiwan-listed FPC specialist serving consumer electronics, smartphone, and wearable OEMs. Highly comparable in FPC process technology and customer engagement model (design-in to mass production).
• Compeq Manufacturing: Taiwan-based PCB manufacturer with strong HDI, rigid, and rigid-flex capabilities serving networking, automotive, and consumer electronics. Comparable layer-count and HDI specifications to MFS.
• Tripod Technology: Taiwan-listed PCB producer focused on multilayer, HDI, and rigid-flex boards for automotive, networking, and consumer segments. Comparable automotive IATF-certified manufacturing and heavy-copper/HDI overlap with MFS.
• Daeduck Electronics: Korea-based PCB manufacturer specializing in multilayer, HDI, and flexible PCBs for automotive, telecom, and consumer OEMs. Comparable automotive IATF-certified capabilities and HDI/FPC overlap.
• Zhen Ding Technology Holding: Taiwan-based global leader in FPC and PCB manufacturing serving smartphone, automotive, and consumer electronics OEMs. Closely comparable product portfolio (FPC, rigid-flex, HDI) and ESI-style customer engagement with major multinationals.
• Shennan Circuits: China-headquartered PCB manufacturer specializing in HDI, rigid-flex, and high-layer-count boards for communication, automotive, and industrial customers. Direct competitor in Hunan/greater China region with overlapping automotive and telecom customer base.
• Ichia Technologies: Taiwan-listed FPC and PCB manufacturer serving mobile, consumer electronics, and automotive customers with HDI and rigid-flex capability. Comparable FPC product portfolio and Asian manufacturing footprint.

Others

• Samsung Electro-Mechanics: Korea-based large-scale electronic components manufacturer including advanced PCB and FPC for mobile, automotive, and IT applications. A broad incumbent with overlapping automotive and consumer FPC capabilities.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat5 records

Key risks5 records

Key highlights6 records

Customer concentration

• LinkedInlinkedin.com/company/mfs-technology-s-pte-ltd

Compliance11 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles3 records

Subsidiaries7 records

Funding overview

Funding rounds1 record

Investors1 record

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A1 record

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about MFS Technology