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SigmaTron International, Inc. Completes
Acquisition of Able Electronics Corporation, an Electronic
Manufacturing Services Company
ELK GROVE VILLAGE, Illinois, July 14, 2005--SigmaTron
International, Inc. (NASDAQ:SGMA), an electronic
manufacturing services (EMS) company, today announced it has
completed the acquisition of Able Electronics Corporation
(Able), headquartered in Hayward California, with an
additional manufacturing facility located in Tijuana,
Mexico. Terms of the transaction were not disclosed.
Able is an ISO 9001:2000 certified, EMS company serving
Original Equipment Manufacturers in the test and
measurement, medical instruments, telecommunications,
computer peripherals, industrial controls and genetic
research industries. The company provides a complete range
of EMS solutions from engineering development and
prototyping to systems integration and test. Able offers
low-to-medium volume, full turnkey manufacturing, test and
logistical services.
Gary R. Fairhead, President and Chief Executive Officer,
said, "With the acquisition of Able Electronics, we
have achieved four objectives. First, we have further
diversified our markets, capabilities and customer base.
Second, we have added a third low-cost manufacturing
facility located in Tijuana, Mexico to complement our
established locations in Mexico and China. Third, we have
created the opportunity to consolidate our California
operations into a single facility, which will result in
significant economies of scale and productivity. And
finally, we expect to generate incremental revenue growth as
Able's customers gain access to our broader array of
services, capabilities and locations, especially China.
The effective date of the acquisition is July 1, 2005.
Headquartered in Elk Grove Village, IL, SigmaTron
International, Inc. is an electronic manufacturing services
company that provides printed circuit board assemblies and
completely assembled electronic products. SigmaTron
International, Inc. operates manufacturing facilities in Elk
Grove Village, Illinois, Acuna and Tijuana, Mexico, Fremont
and Hayward, California and Suzhou-Wujiang, China. SigmaTron
International, Inc. maintains an engineering and materials
sourcing office in Taipei, Taiwan.
Note: To the extent any statements in this press release
statement may be deemed to be forward looking, such
statements should be evaluated in the context of the risks
and uncertainties inherent in the Company's business,
including the Company's continued dependence on certain
significant customers; the continued market acceptance of
products and services offered by the Company and its
customers; the activities of competitors, some of which may
have greater financial or other resources than the Company;
the variability of the Company's operating results; the
availability and cost of necessary components; the Company's
ability to manufacture lead-free assemblies by mid - 2006;
regulatory compliance; the continued availability and
sufficiency of the Company's credit arrangements; changes in
U.S., Mexican, Chinese or Taiwanese regulations affecting
the Company's business; the continued stability of the U.S.,
Mexican, Chinese, and Taiwanese economic, labor and
political conditions, currency fluctuations, and the ability
of the Company to manage its growth, including expansion
into China and its integration of the Able Electronics
operation. These and other factors which may affect the
Company's future business and results of operations are
identified throughout the Company's Annual Report on Form
10-K, and may be detailed from time to time in the Company's
filings with the Securities and Exchange Commission. These
statements speak as of the date of this press release and
the Company undertakes no obligation to update or revise
such statements in light of new information, future events
or otherwise.
Contact Information: SigmaTron International, Inc.
Linda K. Blake, 800-700-9095
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