Printer Friendly


 SAN JOSE, Calif., Sept.9 /PRNewswire/ -- Sanmina Corp. (NASDAQ-NMS: SANM), a leading independent supplier of backplane assemblies and complex printed circuit boards, announced today that it will open a 30,000 square foot facility in Fremont to provide printed circuit board assembly services. "To date, all of our assembly work has been located at our backplane operation in Milpitas," said Jure Sola, Sanmina's president and chief executive officer. "However, we were running out of space. As we expect to expand our contract assembly business significantly over the next several years, this seemed a good time to move."
 "This plant is a key step in our plan to provide our target customers with a complete offering of integrated manufacturing services. Currently, Sanmina is a leader in backplane assembly and multilayer, high density printed circuit boards used in sophisticated electronics equipment. We specialize in custom-designed, complex interconnect products and short lead-time manufacturing services. We have developed a long-standing customer base of leading companies in some of the fastest growing electronics industry segments. Now, we plan to offer our customers additional contract assembly services with the boards we produce. You could say we are moving up the food chain," Sola continued.
 "Demand for independent contract assembly is growing as products become more sophisticated and time-to-market demands increase. Sanmina is ideally suited to provide these services due to our existing manufacturing abilities and our proven proficiency in short lead-time manufacturing services," Sola concluded.
 The plant will provide a total assembly package including both surface mount and pin-through-hole assembly and complete testing of finished boards. Sanmina is moving existing equipment from its Milpitas facility and plans to add additional equipment by calendar year end. Ultimately, the company believes this facility will support five to seven surface mount lines and generate $40 million to $50 million in revenue.
 Sanmina has appointed Scott Crabtree as the Fremont plant manager. Crabtree has an extensive background in contract assembly and formerly worked for SCI Systems, one of the industry's largest contract assembly companies.
 Sanmina recently reported record sales and earnings for the three- and nine-month periods ended July 3, 1993. For the quarter, revenues increased 39 percent to a record $22.1 million, up from $15.9 million in the same quarter a year ago. Sanmina reported record net income for the quarter of $1.8 million, or 26 cents per share on 6.8 million weighted average shares outstanding, compared with a loss in the same quarter a year ago of $176,000, or 4 cents per share on 4.5 million weighted average shares outstanding. For the nine months ended July 3, 1993, net sales increased 39 percent to $63.8 million, up from $46.0 million for the same period in fiscal 1992. Income before extraordinary item increased to $3.7 million, or 70 cents per share on approximately 5.3 million shares, compared with a loss of $1.6 million, or 36 cents per share on 4.5 million shares. After an extraordinary charge for early debt retirement, Sanmina reported net income of $2.8 million, or 54 cents per share, for the nine months.
 Headquartered in San Jose, Calif., Sanmina Corp. is a leading manufacturer of custom-designed backplane assemblies and sub-assemblies, and multilayer, high density printed circuit boards used in sophisticated electronics equipment. Sanmina manufactures these electronic interconnect products for a diversified base of leading original equipment manufacturers in the data communications, telecommunications, industrial and medical instrumentation, and computer sectors of the electronics industry including Alcatel, Northern Telecom, Sun Microsystems, SynOptics and Xerox. The company has manufacturing operations in San Jose, Milpitas, Santa Clara and Fremont, Calif., Richardson, Texas and Redmond, Wash. Sanmina's common stock trades on the NASDAQ National Market System under the symbol SANM.
 -0- 9/9/93
 /CONTACT: Randy Furr of Sanmina, 408-435-8444; or Lise Needham or Stephanie Meyer, 415-986-1591, both of FRB for Sanmina/

CO: Sanmina Corp. ST: California IN: CPR SU:

PK -- SF007 -- 0359 09/09/93 13:26 EDT
COPYRIGHT 1993 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1993 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Sep 9, 1993

Terms of use | Copyright © 2018 Farlex, Inc. | Feedback | For webmasters