ST. LOUIS – Viasystems Group reported second-quarter sales of $239.4 million doubled compared to the same quarter last year, boosted by organic growth and the company’s acquisition of rival Merix in February.
Pro forma organic growth was 4.7% sequentially and 33.4% year-over-year, the printed circuit board fabricator and contract electronics assembler said.
“We generated cash during the quarter sufficient not only to support our business growth and to continue funding integration activities, but also to reduce our net debt by approximately $10 million during the quarter,” said chief executive David Sindelar in a statement.