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© bernardo varela dreamstime.com Electronics Production | January 09, 2013

Nortech Systems completes facility acquisition

Nortech Systems has announced that the company has completed its acquisition of a 58,000-sqf manufacturing facility in Mankato, Minn., from Winland Electronics, Inc., of Mankato.
In January 2011, Nortech Systems began leasing this facility when the company purchased the electronics manufacturing services (EMS) operations of Winland Electronics; the end date of this lease agreement was January 1, 2017.

“This acquisition puts us in better strategic position, allows us to take advantage of lower financing costs and avoids future accelerators in the lease agreement,” said Richard Wasielewski, CFO of Nortech Systems.

“Operating in Mankato for two years has been a very positive experience; it’s a great location with a strong workforce,” he added. “We’re committed to this location for the long term.”

At this Mankato facility, Nortech Systems manufactures printed circuit board assemblies and higher-level complete box build assemblies for customers in a variety of markets, including industrial, medical, transportation and scientific instrumentation.
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December 05 2018 3:01 pm V11.10.4-2