SMTC and FICOSA Announce Strategic Arrangement
TORONTO, Dec. 4, 2012 (GLOBE NEWSWIRE) -- SMTC Corporation (SMTX) ("SMTC"), a global electronics manufacturing services provider, and FICOSA International S.A. ("Ficosa"), a global leader in automotive systems and parts, announce the signing of a strategic manufacturing agreement. Under this agreement, Ficosa will transition the manufacturing of select programs to SMTC's Suzhou plant in China.
Ficosa is a multinational corporation devoted to the research, development, production and commercialization of systems and parts for the automotive industry, for both commercial and industrial vehicles. Founded in 1949, the company has its headquarters in Barcelona (Spain), and an operating presence in 19 other countries across the globe.
Under the terms of the strategic manufacturing agreement, SMTC will provide Ficosa with a range of automotive electronics manufacturing services at SMTC's facility in Suzhou (China). These services will include manufacturing engineering support, PCBA (Printed Circuit Board Assembly) manufacturing, system integration, module assembly, and logistics services. Ficosa will also leverage SMTC's expertise in global supply chain management services by utilizing its well-established global network of material sourcing and supplier partners. Ficosa will contribute also in the development of SMTC as a supplier for the automotive industry.
Through this partnership, SMTC will also offer its customers the expertise of Idneo, a product design subsidiary of FICOSA. With 180 engineers, Idneo is a world-class product realization enterprise committed to product design and development for customers within the Industrial, Medical, Consumer and Automotive markets. Idneo's knowledge covers a wide range of specialties, including design and engineering of embedded software, electro-mechanical components, power circuits, hardware and packaging.
"The marketplace of leading edge automobile electronics is a good fit for SMTC's advanced manufacturing expertise. We have made significant investments in talent, process and manufacturing technologies to support our growing industrial customer base," said Claude Germain, President and Chief Executive Officer for SMTC. "Ficosa is an industry leader with a reputation for creating innovative technologies, and we are excited to have been selected by them to help industrialize and manufacture their new products."
"We are very impressed with SMTC's depth of knowledge and expertise in this type of technology. They have years of experience taking products from new product introduction to volume production, and a reputation for high quality. Working closely with SMTC, and leveraging their global resources and footprint, allows us to cost-effectively and rapidly ramp-up our products," said Javier Pujol, Chief Executive Officer of Ficosa.
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 ( http://www.smtc.com/ ).
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FICOSA is an industrial group based in Spain and a global leader in research, development, production and marketing of automotive systems and parts. Founded in 1949, the company, with headquarters in Barcelona (Spain), holds a team close to 8500 employees and manufacturing plants, technological centres and offices located throughout 19 countries in Europe, North America, South America and Asia. The Group invests 4% of its income in R&D, and operates one of the top technology development centres in Spain addressed to the automotive, electronics, energy and communications industries. FICOSA has positioned itself for the future as a world leader in electronic systems with a global and more diversified business agenda and an expanded added value product line.
CONTACT: Investor Relations Information: Claude Germain President and Chief Executive Officer Telephone: (905) 413.1272 Email: email@example.com or John Nesbett/Jennifer Belodeau Institutional Marketing Services (IMS) Telephone: (203) 972-9200 Email: firstname.lastname@example.org Public Relations Information: Tom Reilly Director of Marketing Telephone: (905) 413.1188 Email: email@example.com More information about FICOSA: David Guerrero or Sonia Perez Telephone: +34 93 700 82 00 Email: firstname.lastname@example.org email@example.com
Source: SMTC Corporation 2012 GlobeNewswire, Inc.