SMTC Corp. (SMTX: Quote,SMX.TO: Quote), a Canadian provider of electronics manufacturing services, on Friday said it acquired Chinese joint venture partner, Alco Electronics. The company also announced the expansion at its Dongguan China manufacturing facility.
The company noted that the latest investment and expansion is part of its strategic plan to strengthen its global footprint, to enhance manufacturing capabilities in China, and to support the growth of new business in the region.
SMTC's 150,000 sq/ft facility located in Dongguan, China serves as a medium to high volume, medium to low mix facility servicing both regional and global OEMs requiring lowest cost manufacturing.
SMTC, which currently has facilities in Mexico and North America, said it has strengthened its capabilities in Asia by adding engineering resources to support New Product Introduction, testing equipment, and by boosting capacity.
Claude Germain, President and CEO for SMTC, said, "We are excited to announce this further expansion in China, which meets our strategic initiative to align our footprint to meet the needs of our growing customer base. This growth and investment is consistent with our corporate objective of delivering intelligent, profitable growth to customers with products in the mid-to-low-volume, higher-mix segment of the market."
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by RTT Staff Writer
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