Key Tronic wins new business with Imation Corp
May 08, 2007
New customer program expected to contribute approximately $20 million annually
Key Tronic Corporation (Nasdaq:KTCC), a provider of electronic manufacturing services (EMS), announced that it plans to enter into an agreement with Imation Corp (NYSE:IMN), a worldwide leader in removable data storage, that when implemented is expected to contribute approximately $20 million to Key Tronic's annual revenue.
In July, 2007, Key Tronic expects to begin to provide the product assembly for Imation's tape-based data storage cartridges. Key Tronic intends to perform the assembly operations in its primary manufacturing facility in Juarez, Mexico.
"We are very pleased to be working with a world-class customer like Imation," said Jack Oehlke, President and Chief Executive Officer. "This important new relationship represents the kind of quality programs we are pursuing and winning, which leverage our vertical integration capabilities to expand our customer base and contribute to profitable long-term growth."