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PCB | February 17, 2010

Viasystems and Merix complete merger

The US-based Viasystems Group has completed the merger with Merix. The companies had already announced the merger intention on October 6, 2009.
The combined company will go forward under the name Viasystems Group and will maintain its headquarters in St. Louis, Missouri. "Viasystems is a world-class leader in PCB fabrication and related electro-mechanical solutions," said David M. Sindelar, CEO of Viasystems. "With the addition of Merix, we now have the capability to manufacture high layer count PCBs using leading-edge technology in both North America and Asia."

Based on the results for the twelve months ended December 31, 2009 for Viasystems and November 28, 2009 for Merix, on a pro forma basis, the combined operation would have had approximately $745 million of revenue. The Company expects that annual cost synergies of approximately $20 million can be achieved through steps initiated within the next 60 days.

Appointment of Board Members
Three members of the Merix Board of Directors have been appointed to the Board of Directors of Viasystems, in accordance with provisions of the Merger Agreement. They are Mr. Michael D. Burger, former President and CEO of Merix; Ms. Kirby A. Dyes, a former Director of Merix; and Mr. William C. McCormick, former Chairman of the Merix Board of Directors.

Mr. Burger will not have a management role in Viasystems. One member of the Viasystems Board of Directors, Ms. Diane H. Gulyas, has resigned from the Board. The Viasystems Board now consists of 12 members, in accordance with the Merger Agreement.

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