SMTC Opens New Supply Chain Center-of-Excellence in Phoenix, AZ to Support Growth and Enable Continued Sourcing Advantage
TORONTO, Sept. 11, 2018 (GLOBE NEWSWIRE) -- SMTC Corporation (Nasdaq:SMTX), a global electronics manufacturing services provider, today announced the opening of its supply chain center in Phoenix, AZ as one of several key initiatives in the company’s ongoing drive to deliver “best-in-class” vertically integrated supply chain services in support of its expanding base of customers and strong year-over-year growth opportunities.
“While supply chain challenges reported by many of our peers continue to affect the industry, SMTC’s focus on supply chain excellence and the emphasis we have placed on this very important part of the business continues to provide exceptional results for our customers in these unprecedented times,” stated Ed Smith, SMTC president and CEO. “Under the direction of our recently hired SVP of Global Planning and Supply Chain Phil Wehrli, we have worked with our customers and key partners to rethink our approach and implement a number of initiatives to manage the risks associated with component shortages and new tariffs. These initiatives, including the new center in Phoenix, span the use of lean manufacturing kan-ban programs, upgraded quoting-tools, tailor-made customer-specific action plans, new agreements with Tier-1 distributors, and extensive investments in safety stock programs, and optimizing our domestic and global integrated supply-chain solutions,” Smith noted.
“SMTC is committed to achieving further transformations in our operations and supply chain through enhanced intelligence and analytics providing better strategic focus combined with increased use of automated materials costing, real-time stock, and budgetary pricing,” noted Wehrli. “While I am fortunate to lead a supply chain organization that has received Frost & Sullivan Awards for Product Quality, Growth Leadership & Customer Value Leadership Awards, our team remains focused on making additional improvements that reduce on-time delivery risk and increase our customers' business agility to develop their market and grow business for both our companies.”
Forward-Looking Statements
Except for the factual statements made herein, forward-looking statements in this press release, including, without limitation, statements regarding the Company’s financial expectations, growth strategy and supply chain management effectiveness, are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. In some cases, these forward-looking statements may be indicated by the use of words such as “may,” “could,” “expect,” “intend,” “plan,” “seek,” “anticipate,” “believe,” “estimate,” “predict,” “potential,” “continue,” “likely,” “will,” “would” and variations of these terms and similar expressions, or the negative of these terms or similar expressions. These forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially from those projected, including those risk factors set forth in SMTC’s Form 10-K for the year ended December 31, 2017 and other factors detailed from time to time in our periodic reports filed with the SEC. The Company undertakes no obligation to update publicly any of these forward-looking statements to reflect actual results, new information or future events, changes in assumptions or changes in other factors affecting forward-looking statements, except to the extent required by applicable laws. If the Company updates one or more forward-looking statements, no inference should be drawn that the Company will make additional updates with respect to those or other forward-looking statements.
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 manufacturing facilities span a broad footprint in the United States, China and Mexico. 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, networking and computing, power and energy and medical market segments. SMTC is a public company incorporated in Delaware with its shares traded on the Nasdaq National Market System under the symbol SMTX. For further information on SMTC Corporation, please visit our website at www.smtc.com
Investor Relations Contact
Peter Seltzberg
Managing Director
Darrow Associates, Inc.
516-419-9915
pseltzberg@darrowir.com
Released September 11, 2018