SMTC Completes the Asset Acquisition of Seksun Array Electronics (Suzhou) Co. Ltd.
(GlobeNewswire Via Acquire Media NewsEdge) TORONTO, Dec. 4, 2012 (GLOBE NEWSWIRE) -- SMTC Corporation (Nasdaq:SMTX) ("SMTC"), a global electronics manufacturing services provider, announced that it has completed the previously announced transaction to acquire the manufacturing assets of Seksun Array Electronics (Suzhou) Co. Ltd. ("Seksun") in Suzhou, China. The ISO-certified facility will specialize in manufacturing mid–low mix / mid-high volume electronics equipment for some of the world's leading telecommunication, wireless, life science and automotive equipment manufacturers.
President and Chief Executive Officer of SMTC, Claude Germain stated, "The purchase price of the Seksun Array Electronics assets will be approximately $2.0 million, which will be funded through our bank debt facility. We expect this transaction to be immediately accretive."
About SMTC Corporation: SMTC Corporation, founded in 1985, is a mid-size provider of end-to-end electronics manufacturing services (EMS) including PCBA production, systems integration and comprehensive testing services, enclosure fabrication, as well as product design, sustaining engineering and supply chain management services. SMTC facilities span a broad footprint in the United States, Canada, Mexico, and China, with more than 1,875 full-time employees. SMTC services extend over the entire electronic product life cycle from the development and introduction of new products through to the growth, maturity and end-of-life phases. SMTC offers fully integrated contract manufacturing services with a distinctive approach to global original equipment manufacturers (OEMs) and emerging technology companies primarily within industrial, computing and communication market segments. SMTC was recognized in 2012 by Frost & Sullivan with the Global EMS Award for Product Quality Leadership.
SMTC is a public company incorporated in Delaware with its shares traded on the Nasdaq Global Market under the symbol SMTX. For further information on SMTC Corporation, please visit our website at www.smtc.com
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CONTACT: Investor Relations Information:
President and Chief Executive Officer
Telephone: (905) 413.1272
John Nesbett/Jennifer Belodeau
Institutional Marketing Services (IMS)
Telephone: (203) 972-9200
Public Relations Information:
Director of Marketing
Telephone: (905) 413.1188
Source: SMTC Corporation
2012 GlobeNewswire, Inc.
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