Flextronics Acquires Saturn Electronics & Engineering
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ROCHESTER HILLS — Singapore-based Flextronics (Nasdaq: FLEX) announced Monday that it has acquired Saturn Electronics & Engineering Inc., a supplier of electronics manufacturing services, solenoids and wiring for the automotive, appliance, consumer, energy and industrial markets.
Based in Rochester Hills, Saturn most recently reported more than $300 million in annual revenue. It has about 70 employees at its headquarters.
Additional terms of the deal were not disclosed.
David Jewell, vice president of integrated marketing and communications at Flextronics, said that as for the future of Saturn’s Auburn Hills plant, “At this time, we do not plan to close the Rocheseter Hills facility.”
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. 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.”
Gary Lawrey, president and CEO 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 helps customers design, build, ship and service electronics products through a network of plants in 30 countries on four continents. This global presence provides design and engineering solutions that are combined with core electronics manufacturing and logistics services, and are vertically integrated with components technologies, to optimize customer operations by lowering costs and reducing time to market.
More at www.flextronics.com.