Is Flextronics About to Move on Saturn?
SAN JOSE -- Flextronics is about to acquire wire harness manufacturer Saturn Electronics & Engineering for an undisclosed sum, according to published reports.
Crain's Detroit Business is reporting an anonymous source says the deal should be signed today.
The companies are not commenting.
Saturn Electronics, which supplies components and wiring harnesses primarily to the automotive industry, had sales of $289.6 million in 2011, up 104% from 2009. Two of its sites -- one in Michigan and one in Mexico -- perform EMS work as well.
After ditching its PC ODM business last year, Flextronics has been looking to break into other higher margin businesses. Automotive is attractive because of its volume and higher barriers to entry. Consumer and automotive electronics make up a $160 billion a year business, Saturn says.
Press Releases
- Latham Industries Expands Operations with New State-of-the-Art Facility
- PEMTRON Announces Partnership with American Tec for Distribution in China
- Explore ROCKA Branded Products at the SMTA Long Island, Michigan and Ohio Expos
- Surf-Tech Manufacturing Corp. Ensures World-Class Quality with Advanced Conformal Coating Services