Flextronics buying Michigan's Saturn Electronics

Dustin Walsh

Published: December 3, 2012 6:00 am ET

Related to this story

Topics Automotive, Mergers & Acquisitions

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

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

Image

Chinese auto suppliers growing in US

July 24, 2014 4:17 pm ET

Two China-based automotive suppliers are expanding in the U.S., according to information released by the Michigan Economic Development Corp.    More

Meredian merging with Danimer Scientific

July 24, 2014 1:59 pm ET

Bioplastics maker Meredian Inc. is merging with its sister firm, Danimer Scientific LLC.    More

Image

Injection molder, recycler Polyvulc USA puts itself up for sale

July 24, 2014 12:41 pm ET

Fred Farrell and Larry Lambiotte, founders of Polyvulc USA Inc. and its subsidiaries Polyvulc Tire Recycling Llc and Winnsboro Rubber Recycling LLC,...    More

OSHA probes alleged asthma link to Lear's Selma, Ala., plant

July 23, 2014 11:58 am ET

U.S. foam manufacturer Renosol Seating LLC is being investigated following allegations its workers are at risk of asthma from TDI exposure at its plan...    More

Market Reports

Injection Molders Market Report & Ranking 2014

This special package contains our 132-page 2014 Market Report on the Injection Molding segment and our exclusive 2014 RANKINGS database of 500+ Injection Molders for a discounted package price.

Learn more

Plastics Recycling Market Review & Outlook 2014

This special report from Plastics News examines the North American plastics recycling industry and provides insight into indicators that impact market viability, including Resin pricing trends for virgin and recycled market material and historical Resin production trends for post- consumer and industrial waste.

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

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

More Events