Kimball Electronics Forms Relationship with Magna Donnelly.JASPER, Ind. -- Kimball Electronics Group, Inc., through its related subsidiaries, announced today that the Company has entered into an agreement with Magna Donnelly to produce printed circuit board assemblies. Kimball Electronics Group, Inc., a subsidiary of Kimball International Kimball International, Inc. NASDAQ: KBALB is a manufacturer of furniture and industrial electronics. Founded by W.W. Kimball in 1857 as a piano dealership, it was discontinued after 1996 but remains one of America's oldest and most distinguished keyboard instrument , Inc. (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on :KBALB), is a global contract electronics manufacturing services Electronic manufacturing services (EMS) is term used for companies that design, test, manufacture, distribute and provide return/repair services for electronic component and assemblies for original equipment manufacturers (OEMs). (EMS) company that specializes in durable electronics with applications in the automotive, medical, industrial controls, and public safety industries. Under the terms of the agreement, Kimball Electronics acquired Magna Donnelly's PCB PCB: see polychlorinated biphenyl. PCB in full polychlorinated biphenyl Any of a class of highly stable organic compounds prepared by the reaction of chlorine with biphenyl, a two-ring compound. (Printed Circuit Board) assembly operation in Longford, Ireland. The two companies have agreed to combine their efforts in a long term manufacturing strategy to support the needs of the Magna Donnelly automotive mirror business. Shane Caher, General Manager, Magna Donnelly Ireland, said "With this agreement, we have charted a longer term future for the Longford operation, while securing a world class partner in automotive electronic manufacturing, giving Magna Donnelly access to high quality electronic assemblies at a competitive cost." Don Charron, President, Kimball Electronics Group, stated, "Magna Donnelly is a worldwide leader in automotive mirrors and we are excited to offer them access to our own global footprint of certified See certification. automotive manufacturing facilities." As of 2005, all of Kimball Electronics' facilities have achieved TS16949 Certification. Added Charron, "We are very happy to have the Longford team become part of the Kimball family, and we look forward to a relationship that continues to build success." Kimball International President and Chief Executive Officer Jim Thyen commented, saying, "This important agreement follows closely on our recent announcement of a major Kimball Electronics acquisition in Wales Wales, Welsh Cymru, western peninsula and political division (principality) of Great Britain (1991 pop. 2,798,200), 8,016 sq mi (20,761 sq km), west of England; politically united with England since 1536. The capital is Cardiff. , and emphasizes our strategic expansion of global capabilities and responsiveness in serving our customers. The Kimball package of value is well served by accelerated growth that complements our unwavering commitment to be both a business partner as well as a supplier." About Kimball Electronics: Kimball Electronics Group is well recognized for its excellent quality, reliability and innovative service. The September 2005 issue of "Electronic Business" magazine ranked Kimball Electronics as # 26 among the global Top 100 Contract Manufacturers . In June 2005, "Electronics Supply & Manufacturing" magazine rated Kimball Electronics #20 among the Top 50 Electronics Manufacturing Services Companies. Kimball Electronics Group has manufacturing operations Manufacturing operations concern the operation of a facility, as opposed to maintenance, supply and distribution, health, and safety, emergency response, human resources, security, information technology and other infrastructural support organizations. in the U.S., Mexico, Thailand, Poland, and a soon to be completed new facility in China. About Magna Donnelly: Magna Donnelly is part of the Magna International Magna International Inc. TSX: MG is a Canadian company based in Aurora, Ontario. It is Canada's largest automobile parts manufacturer, and one of the country's largest companies. It also owns the successful Magna Steyr automobile production company of Austria. Inc. group of companies. Magna, the most diversified automotive supplier in the world, designs, develops and manufactures automotive systems See ITS, embedded system, drive-by-wire, adaptive cruise control, collision avoidance system, autonomous vehicle, heads-up display, DSRC, lane departure system, CAN bus, FlexRay and SYNC. , assemblies, modules and components, and engineers and assembles complete vehicles, primarily for sale to original equipment manufacturers (OEMs) of cars and light trucks in North America North America, third largest continent (1990 est. pop. 365,000,000), c.9,400,000 sq mi (24,346,000 sq km), the northern of the two continents of the Western Hemisphere. , Europe, Asia and South America South America, fourth largest continent (1991 est. pop. 299,150,000), c.6,880,000 sq mi (17,819,000 sq km), the southern of the two continents of the Western Hemisphere. . Magna has over 82,000 employees in 224 manufacturing operations and 60 product development and engineering centres in 22 countries. To learn more about Magna International Inc., visit the Company's website on the Internet at: www.magna.com About Kimball International: Kimball International, Inc. (NASDAQ:KBALB) provides a variety of products from its two business segments: the Furniture and Cabinets segment and the Electronic Contract Assemblies segment. The Electronic Contract Assemblies segment provides engineering and manufacturing services which utilize common production and support capabilities to a variety of industries globally. The Furniture and Cabinets segment provides furniture for the office and hospitality industries, sold under the Company's family of brand names. The Furniture and Cabinets segment also provides engineering and manufacturing services which utilize common production and support capabilities on a contract basis to customers primarily in the residential furniture and cabinets industry. To learn more about Kimball International, Inc., visit the Company's website on the Internet at: www.kimball.com "Kimball International ... We Build Success!" |
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