Done Deal: Flextronics Lands Saturn PDF Print E-mail
Written by Mike Buetow   
Tuesday, 04 December 2012 11:10

DETROIT -- Flextronics has confirmed its acquisition of Saturn Electronics & Engineering, a supplier of electronics manufacturing services, solenoids and wiring harnesses for the automotive, appliance, consumer, energy and industrial markets. Rochester Hills, MI-based Saturn most recently reported more than $300 million in annual revenue. Additional terms of the deal were not disclosed.

"Flextronics is pleased to announce that it has acquired Saturn Electronics & Engineering, a company that is renowned for manufacturing excellence and unmatched quality as a supplier of electronics, wiring and high-precision engineered solenoid solutions," said Chris Obey, president of Flextronics Automotive. "Our combined capabilities will provide customers with an expanded range of services in automotive energy management and vehicle electronics." Obey added, "We are thrilled to join forces with the Saturn Electronics & Engineering team and look forward to increasing the world-class products and services we provide our automotive and electronics customers."

Gary Lawrey, president and chief executive officer of Saturn, said, "Flextronics' global presence and stability, along with its commitment to the markets where we operate, make this a perfect fit for the Saturn team.  Flextronics' supply chain expertise, vertical integration capabilities and global scale will provide great benefit to our customers in terms of increased speed to market and lower cost solutions."

Flextronics declined to indicate whether it would keep all Saturn's manufacturing sites open. The company has EMS facilities in Michigan and Mexico.

"Flextronics has the most comprehensive end-to-end electronics manufacturing services capabilities serving the automotive industry today. The acquisition of Saturn further expands our services offering with expertise that addresses the key technology trends in automobile electronics," Obey said.

Last Updated on Wednesday, 05 December 2012 11:55
 

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