TORONTO, June 8, 2012 (GLOBE NEWSWIRE) -- SMTC Corporation (Nasdaq:SMTX) ("SMTC"), a global electronics manufacturing services provider, announced the successful buyout of their Chinese joint venture partner, Alco Electronics, and the expansion at their Dongguan China manufacturing facility. This investment and expansion is part of SMTC's strategic plan to strengthen its global footprint, to enhance manufacturing capabilities in China, and to support the growth of new business in the region.
This expansion in Asia, combined with its existing facilities in Mexico and North America, highlights SMTC's commitment to its growing global footprint; it also caters specifically to global OEMs seeking a sophisticated Asia-based manufacturing solution. More specifically, SMTC has strengthened its capabilities in Asia by adding engineering resources to support New Product Introduction, by adding state-of-the-art testing equipment, and by boosting capacity. The expansion is supported by SMTC's Asia procurement office and fulfillment warehouse, both located in Hong Kong, which allow both current and new customers to benefit from SMTC's strong supply chain capabilities and localized purchasing power in order to bring products to market faster and more cost effectively.
"We are excited to announce this further expansion in China, which meets our strategic initiative to align our footprint to meet the needs of our growing customer base. This growth and investment is consistent with our corporate objective of delivering intelligent, profitable growth to customers with products in the mid-to-low-volume, higher-mix segment of the market," said Claude Germain, President and CEO for SMTC.
SMTC's 150,000 sq/ft facility is located in China (Dongguan), is ISO 9001:2008 registered and serves as a medium to high volume, medium to low mix facility servicing both regional and global OEMs requiring lowest cost manufacturing. This manufacturing facility offers a full suite of turnkey solutions; New Product Introduction and prototyping, Printed Circuit Board Assembly and testing, box/module build, final product integration and worldwide customer logistics.
About SMTC Corporation: SMTC Corporation, founded in 1985, is a mid-size provider of end-to-end electronics manufacturing services (EMS) including PCBA production, systems integration and comprehensive testing services, enclosure fabrication, as well as product design, sustaining engineering and supply chain management services. SMTC facilities span a broad footprint in the United States, Canada, Mexico, and China, with more than 1,875 full-time employees. SMTC services extend over the entire electronic product life cycle from the development and introduction of new products through to the growth, maturity and end-of-life phases. SMTC offers fully integrated contract manufacturing services with a distinctive approach to global original equipment manufacturers (OEMs) and emerging technology companies primarily within industrial, computing and communication market segments. SMTC was recognized in 2012 by Frost & Sullivan with the Global EMS Award for Product Quality Leadership.
SMTC is a public company incorporated in Delaware with its shares traded on the Nasdaq Global Market under the symbol SMTX. For further information on SMTC Corporation, please visit our website at www.smtc.com.
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