SigmaTron acquisition of Spitfire Control

Spitfire Control, Inc. (Spitfire) is a privately held Illinois corporation headquartered in Carpentersville, Illinois with captive manufacturing sites in Chihuahua, Mexico and suburban Ho Chi Minh City, Vietnam. Both manufacturing sites are among the assets acquired by SigmaTron International, Inc. (SigmaTron). Spitfire is an original equipment manufacturer (OEM) of electronic controls, with a focus on the major appliance (white goods) industry. Currently its primary market is North America and it has applications that can be used worldwide. SigmaTron has provided manufacturing solutions for Spitfire since 1994 and has been a strategic partner as Spitfire developed its OEM electronic controls business. Commenting on the acquisition, Gary R. Fairhead, SigmaTron's President & Chief Executive Officer, said, "We have a long term relationship with Spitfire and this was the next logical step. With this acquisition, SigmaTron will add two excellent manufacturing operations in locations that will augment our international footprint. We believe that Mexico will continue to grow as the manufacturing location of choice in North America and Vietnam will continue to be a relatively low cost manufacturing location in Asia. Furthermore, the addition of Spitfire's design capabilities will allow SigmaTron to offer design services for the first time in specific markets. SigmaTron plans to continue to use the name Spitfire Controls in its service to the appliance industry". Jay Ramsey, President of Spitfire, added, "We believe that this combination will allow both companies to take advantage of growth opportunities that we both see in the major appliance market as well as allowing SigmaTron to grow its electronic manufacturing services business. Ultimately, we believe customers of SigmaTron and Spitfire will benefit from the companies' combined strengths".