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CM Deals Completed, Extended
December 31, 1969 |Estimated reading time: 2 minutes
TORONTO; HAUPPAUGE, N.Y.; SAN JOSE, Calif.; and LOUISVILLE, Ky. -Several announcements previously reported in the SMT CM News have continued progressing. The following is an update on four such events:
Celestica Inc. completed the acquisition of IBM`s Rochester, Minn., electronic card assembly and test (ECAT) operation (see CM News, March 2000 SMT, p. 105). The acquisition is part of an expanded business relationship between the two companies. This acquisition was announced in conjunction with Celestica`s acquisition of IBM operations in Vimercate and Santa Palomba, Italy; those acquisitions are expected to be completed by the end of the second quarter of 2000.
Boundless Corp. announced that its recently formed subsidiary, Boundless Manufacturing Services Inc. (BMS), closed two transactions with Boca Research Inc. The first, which reportedly advances BMS` mission to become a premier CM in the middle and emerging technology markets, calls for BMS to manufacture modems and other electronic components for Boca Research. The second closing is the purchase of Boca Research`s 70,000 sq. ft. manufacturing facility in Florida (see CM News, March 2000 SMT, p. 107). BMS will immediately employ 70 Boca Research manufacturing and supply chain associates.
"Today highlights significant steps in the brief, but exciting, history of BMS as we move forward with our vision of becoming the premier [CM] to middle market and emerging technology companies," said Joseph V. Joy, president, BMS. "We look forward to working with Boca Research and plan on working with many more high-tech companies in the future to fulfill their manufacturing needs. The agreement with Boca Research also affords us the opportunity to extend our existing capabilities by adding PCB assemblies to our existing build-to-order (BTO) expertise."
Sanmina Corp. announced the completion of two separate acquisitions. The first involves Harris Corp. (see CM News, March 2000 SMT, p. 107). As part of the transaction, Sanmina will lease Harris` advanced manufacturing facility in San Antonio. The agreement also includes a strategic manufacturing partnership for Harris to outsource its commercial PCBA manufacturing to Sanmina.
Additionally, Sanmina completed the acquisition of the Clinton, N.C., electronic enclosure systems facility from Alcatel. The transaction includes an enclosure fabrication and mechanical assembly facility, 26 acres of commercially zoned land, and a manufacturing service contract. The facility, which primarily manufactures electronic system enclosures for Alcatel`s ADSL products, is said to strengthen Sanmina`s total solutions strategy, enabling the company to support its expanding global enclosure manufacturing and full system assembly capabilities.
Group Technologies Corp. (GroupTech), a subsidiary of Sypris Solutions Inc., was awarded two separate electronic manufacturing contracts from Raytheon Co., for a combined value of $7.7 million. GroupTech will manufacture approximately 100 different styles of circuit card assemblies for Raytheon Systems in Tewksbury, Mass., in support of the multi-year Navy EHF Satellite Program (NESP).
"In the past several months, we have been awarded four separate contracts with a total value of $21.7 million with various divisions of Raytheon," said Jeffrey T. Gill, president and CEO of Sypris (see CM News, March 2000 SMT, p. 108). "We are pleased with the momentum that this series of awards signals. Our focus remains on continuing to expand this outstanding customer relationship."