SMTC Corporation Invests in its U.S. and Mexican Operations
TORONTO, Oct. 31, 2018 (GLOBE NEWSWIRE) -- SMTC Corporation (Nasdaq:SMTX), a global electronics manufacturing services provider, today announced the completion of nearly $5 million in facility and equipment expansion in North America to support its growing global customer base. The company also announced orders in excess of $15 million from new medical customers that were conditioned upon being awarded ISO 13485 accreditation which the company recently obtained.
“Today’s announcement represents another important step forward as we position the company for continued growth,” said Ed Smith, SMTC’s President and CEO. “The SMTC team continues to separate itself from the competition by focusing on our customers’ increasing needs for vertically integrated, higher value services.”
The facility upgrades include higher volume capacity of package-on-package and ultra-fine pitch components at exceptionally high levels of quality in any board outline from SMTC’s U.S. manufacturing facility and the doubling of box-build manufacturing capacity at our Mexican operations.
“With these infrastructure investments, SMTC continues to differentiate itself by offering a local touch and global reach, while providing our clients with manufacturing excellence and flexibility that support new product introductions to volume scale,” added SMTC’s Chief Operating Officer Rich Fitzgerald.
“ISO 13485 accreditation represents an important milestone in our ongoing effort to provide best-in-class service to an expanding base of customers,” said Steve Brown, SMTC’s Senior Vice President of Quality and Technology. “The addition of this rigorous accreditation further enhances our copy exact and standardization practices through the SMTC portfolio,” Brown added.
Forward-Looking Statements
Except for the factual statements made herein, forward-looking statements in this press release, including, without limitation, statements regarding expectations of continued growth, expansion into vertically-integrate, high-value services, new customers in the medical markets, and the Company’s focus on making continuous improvements in our operations 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 and was added to the Russell Microcap® Index in 2018. 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 October 31, 2018