SigmaTron completes acquisition of Able Electronics Corporation
Jul 15, 2005
SigmaTron International, Inc. (NASDAQ:SGMA) announced it has completed the acquisition of Able Electronics Corporation (Able), headquartered in Hayward California, with an additional manufacturing facility located in Tijuana, Mexico. Terms of the transaction were not disclosed.
Able is an ISO 9001:2000 certified, EMS company serving Original Equipment Manufacturers in the test and measurement, medical instruments, telecommunications, computer peripherals, industrial controls and genetic research industries. The company provides a complete range of EMS solutions from engineering development and prototyping to systems integration and test. Able offers low-to-medium volume, full turnkey manufacturing, test and logistical services.
Gary R. Fairhead, President and Chief Executive Officer, said, "With the acquisition of Able Electronics, we have achieved four objectives. First, we have further diversified our markets, capabilities and customer base. Second, we have added a third low-cost manufacturing facility located in Tijuana, Mexico to complement our established locations in Mexico and China. Third, we have created the opportunity to consolidate our California operations into a single facility, which will result in significant economies of scale and productivity. And finally, we expect to generate incremental revenue growth as Able's customers gain access to our broader array of services, capabilities and locations, especially China.
The effective date of the acquisition is July 1, 2005.