Flextronics buying Michigan's Saturn Electronics

Dustin Walsh

Published: December 3, 2012 6:00 am ET

Related to this story

Topics Mergers & Acquisitions, Automotive

DETROIT (Updated Dec. 4, 2:50 p.m. ET) — Singapore-based electronics firm Flextronics International Ltd. announced today it acquired Rochester Hills-based Saturn Electronics & Engineering Inc.

Terms of the deal were not announced.

Saturn Electronics supplies solenoids and wiring harnesses to the automotive industry and others. Roughly 70 percent of its business comes from the auto industry.

The firm generated revenue of $289.6 million in 2011. As of Jan. 1, it employed 1,958 — 66 local full-time employees and 231 throughout Michigan.

The company has six locations. In addition to the headquarters, they are in Coopersville, Mich., Mexico (2), the Philippines and China.

It's unclear whether all of those locations will remain open under Flextronics.

“Flextronics’ global presence and stability, along with its commitment to the markets where we operate, make this a perfect fit for the Saturn team,” Gary Lawrey, president and CEO of Saturn Electronics. “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 manufactures electronics and solenoids to many companies, including many in Microsoft's product line, such as the Xbox 360 and Zone.

In automotive, Flextronics supplies products and services for lighting, interior, power electronics and connectivity.

The deal is likely to expand Flextronics' access into the industry.

However, Saturn Electronics enjoys preferred status with suppliers and automakers as a minority-owned business, as Wally Tsuha, its founder and chairman, is a Hawaiian-born Asian-American. What will happen to that status under Flextronics is unclear.


Comments

Flextronics buying Michigan's Saturn Electronics

Dustin Walsh

Published: December 3, 2012 6:00 am ET

Post Your Comments


Back to story


More stories

Image

Acquisition expands Rieke Packaging's stake in Asia

July 28, 2014 4:39 pm ET

Diversified rigid packaging components producer Rieke Packaging Systems now has a bigger footprint in Asia.    More

Image

Two medical device makers add specialty products through acquisitions

July 28, 2014 3:02 pm ET

The medical merger mania continues this summer as two more medical device manufacturers are swallowed up by bigger competitors.    More

Image

Deal combines US packaging thermoformers

July 28, 2014 12:42 pm ET

Thermoformed medical packager Nelipak Corp. is expanding its North American holdings and access to the U.S. health care market with the purchase of...    More

Magna hiring at two Michigan locations

July 28, 2014 11:43 am ET

Magna Interior Trim Components is adding a total of 169 jobs to two of its Michigan manufacturing facilities.    More

Image

Metals and plastics company NN to buy Autocam in $300 million deal

July 25, 2014 10:07 am ET

A Tennessee metals and plastics company said it has agreed to acquire auto parts supplier Autocam Corp. in a deal valued at $300 million.    More

Market Reports

Plastics Recyclers Data Report & Directory

This exclusive MS Excel database contains all the companies from Plastics News' ranking of top North American Recyclers and Brokers by reprocessed volume and also includes a directory with materials processes, services offered and company contact information. Data is based on primary research by PN editorial staff.

Learn more

2014 Injection Molding Industry Report

GROWTH, OPPORTUNITY IN SIGHT FOR INJECTION MOLDERS IN 2014

In the wake of the economic turbulence earlier in this decade, molders today find themselves in much better shape. Molders are gaining a competitive advantage by investing in people, equipment and seeking inroads into new markets on a global scale.

Growth in the injection molding industry is going to be driven by low financing costs and a continued move to reshore some business.

Learn more

Shale Gas Market - Analysis of North American Region

This report highlights the impact of shale-based natural gas on the North American plastics market and features an in-depth analysis of production trends in the United States during 2013 and a forecast for 2014 and beyond.

Learn more

Upcoming Plastics News Events

September 10, 2014 - September 12, 2014Plastics Caps & Closures 2014

January 14, 2015 - January 14, 2015Plastics in Automotive

February 4, 2015 - February 6, 2015Plastics News Executive Forum 2015

More Events