News
Elk Grove Village, IL, March 29 - EMS company SigmaTron International Inc. has signed a non-binding letter of intent to purchase Able Electronics Inc., headquartered in Hayward, CA, with an additional manufacturing facility located in Tijuana. The company also announced its intent to sell its Las Vegas operation to Grand Products Inc.
Able is an ISO 9001:2000 certified, privately-held EMS company serving OEMs in the test and measurement, medical instruments, telecommunications, computer peripherals, industrial controls and genetic research industries.
Peter Dennis, Able's president, said, "Combining with SigmaTron completes one of our strategic goals - increasing capabilities domestically while reducing time to market and total cost for our customer base...With SigmaTron's international footprint we believe we will be in a position to offer our customers a wider range of solutions to their EMS requirements."
SigmaTron operates manufacturing facilities in Elk Grove Village, Las Vegas, Acuna, Mexico, Fremont, CA and Suzhou-Wujiang, China, with engineering and materials sourcing offices in Taipei, Taiwan.
The Vegas EMS center specializes in the assembly of electronic products and cables for a range of customers primarily in the gaming industry.
Grand Products is contract assembler of coin-op games and gaming machines. Based in Des Plaines, IL, the company is licensed by the Nevada Gaming Commission to manufacture and distribute gaming devices.
Terms of the proposed transactions were not disclosed.
RICHARDSON, TX -- TXP-Texas Prototypes Inc., a provider of prototype electronics manufacturing services, will double its facility, expanding to 31,000 sq. ft. of manufacturing and lab space.
The newly built-out facility includes a 2,500 sq. ft. cleanroom.
The company
said 40 to 50 people will be employed at the location.
Michael C. Shores,
president and CEO, said, "The newly acquired facility will accommodate the
company's current expanding business needs while providing continued growth
potential for the company and all of its divisions."
On a conference call last year, CEO Mike Cannon said the company is not for sale.
The company last week said its February quarter net loss narrowed to $3.4 million, from a loss of $68 million last year. Revenue fell to $2.76 billion from $2.89 billion.
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