Tuesday, December 4, 2012
SMTC completes asset acquisition of Seksun Array Electronics (Suzhou)
CANADA: SMTC Corp. announced that it has completed the previously announced transaction to acquire the manufacturing assets of Seksun Array Electronics (Suzhou) Co. Ltd. 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 CEO 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."