Ad
Ad
Ad
Ad
Ad
Ad
Ad
Ad
Electronics Production | June 30, 2004

Sanmina-SCI acquire Pentex-Schweizer

Sanmina-SCI Corporation has entered into an agreement to acquire Pentex-Schweizer Circuits Limited, a provider of printed circuit board fabrication. The acquisition includes operations in Wuxi, China and Singapore.

The total transaction value, including consideration for shares and options, assuming the exercise of all options prior to closing, is approximately US$78.8 million. The transaction is subject to several conditions, including approval by Pentex-Schweizer Circuits Limited shareholders and court approval of the transaction under Singapore law, and is expected to close in Sanmina-SCI.s fiscal 2004 fourth quarter or in its first quarter of fiscal 2005. In addition, Sanmina-SCI and Pentex-Schweizer Circuits Limited have entered into a transition manufacturing agreement under which Pentex-Schweizer Circuits Limited will provide printed circuit board fabrication services to Sanmina-SCI during the period prior to closing and under which the companies will undertake transition manufacturing activities. The operations in Wuxi, China and Singapore comprise 470,000 square feet of manufacturing space, with additional expansion capabilities in China of 450,000 square feet. These two operations complement Sanmina-SCI.s well established high end printed circuit board facility in Malaysia. Both operations are ISO 9001:2000 certified. In addition, the Singapore operations are ISO/TS 16949 and ISO 14001 certified and the Wuxi operation is QS 9000 certified. Mr. Kik Teng Guan, Deputy Chairman and Group Managing Director, Pentex-Schweizer Circuits Limited, believes that the transaction will .enable the Company to grow its business by providing higher levels of technical expertise to its customers and will be beneficial for the employees. It will also complement Sanmina-SCI’s business by providing them with strategically located manufacturing capability and capacities." Commenting on the transaction, Mr. Jure Sola, Chairman and Chief Executive Officer of Sanmina-SCI, said, .For quite some time, we have been carefully evaluating a number of expansion opportunities in China. Pentex-Schweizer Circuits Limited, an efficient, well-run operation with a group of talented employees, will provide us with a solid foundation to support our customers’ requirements in this region. We expect to capitalize on the Company’s ability to manufacture high quality boards by leveraging our vertical integration strategy. In addition, our core competency in engineering more complex, high layer count boards and in using highperformance materials will allow us to further expand and strengthen our market opportunity. This transaction further solidifies Sanmina-SCI’s position as having the most comprehensive PCB fabrication technologies available globally." Sanmina-SCI presently occupies manufacturing space in Greater China and Southeast Asia with service offerings of PCB Fabrication, PCB assembly, backplane assembly, enclosures and cables.
Ad
Ad
Load more news
November 19 2019 5:01 pm V14.7.13-1