News
ANGLETON, TX, Jan. 10 -- Benchmark Electronics will add a third manufacturing site in Asia by the end of the quarter to meet increased customer demand.
The contract manufacturing provider said today it will lease a facility in Ayudhaya, Thailand, 30 miles north of the Bangkok Airport. This 60,000 sq. ft. facility will be the company's second in Ayudhaya.
The new plant will perform systems integration.
Benchmark said the facility will be fully operational by the end of the first quarter. The company currently operates 17 facilities worldwide, including four in Asia.
December sales topped $55 million, up 70% year-on-year, and also beating the EMS provider's previous monthly high set in June 2004.
For the year, sales topped $530 million, up 30% over 2003 sales.
The company attributed the growth to FPC subassemblies, CMOS sensor modules for mobile phones and LCD modules.
Joseph Li, chief executive said in a press release, "We are extremely pleased with the sales, which exceeded our original upper guidance. High oil prices and a strong yen has resulted in greater outsourcing, especially by Japanese manufacturers during the period, which resulted in additional orders from our customers.
The company has factories expected to come online after March.
The company also stated that chief financial officer Charles Wong and his assistant, Joseph Silva, have resigned for personal reasons. Both were in their probationary periods. Li will assume the CFO position on an interim basis.
LANCASTER, PA, Jan. 7 -- Bulova Technologies, a contract electronics manufacturer, today announced it has raised $6 million in mezzanine capital for future expansion.
The financing, provided by NewSpring Ventures and TRF Urban Growth Partners, will fund a planned expansion in December."This financing will provide the resources to continue to grow the company and to take advantage of both organic opportunities and potential acquisitions," said Stephen L. Gurba, president and chief executive.
.Privately held Bulova was founded in 1942 as a subsidiary of the Bulova Watch Co.
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