Flextronics buying Michigan's Saturn Electronics

Dustin Walsh

Published: December 3, 2012 6:00 am ET

Related to this story

Topics Mergers & Acquisitions Automotive
Companies & Associations

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

Dow Chemical to merge chlorine operations with Olin

March 27, 2015 12:43 pm ET

Dow Chemical Co. is combining a large part of its chlorine value chain with specialty chemicals and ammunition maker Olin Corp. to create a global...    More

Image

Flextronics launches global injection molding, tooling unit

March 26, 2015 4:29 pm ET

Flextronics International Ltd. (Booth S34125) is officially launching Precision Plastics, a global injection tooling and manufacturing unit, as a...    More

Image

Core Molding buys CPI Binani assets, adds markets, D-LFT capabilities

March 20, 2015 1:20 pm ET

Core Molding Technologies Inc. is expanding its thermoplastics capabilities with the acquisition of substantially all the assets of CPI Binani Inc.,...    More

Image

Proposed Cardia-Stellar merger labeled 'not fair,' but still 'reasonable'

March 20, 2015 10:34 am ET

If the proposed merger of two Australian bioplastics companies goes ahead, the new company will be called Secos Group Ltd. and have annual sales of...    More

Image

Transilwrap buys Clear Focus, expands in advertising films

March 20, 2015 10:03 am ET

Film extruder Transilwrap Company Inc. has bought Clear Focus Imaging, a manufacturer of printable plastic films for large-scale display advertising l...    More

Market Reports

Flexible Packaging Trends in North America

North America represents about 30 percent of the global consumption of flexible packaging. Annual growth in this region is forecast at 4 percent during the next 5 years.

For more insight on growth opportunities, drivers of growth and the outlook for 2015, download this report.

Learn more

Plastics Recycling Trends in North America

This report is a review and analysis of the North American Plastics Recycling Industry, including key trends and statistics based on 2013 performance. We examine market environment factors, regulatory issues, industry challenges, key drivers and emerging trends in post-consumer and post-industrial recycling.

Learn more

Plastics in Mexico - State of the Industry Report

This report analyzes the $20 billion plastics industry in Mexico including sales of machinery & equipment, resins and finished products.

Our analysts provide insight on business trends, foreign investment, top end markets and plastics processing activity. The report also provides important data on exports, production, employment and value of plastics products manufactured.

Learn more

Upcoming Plastics News Events

June 2, 2015 - June 3, 2015Plastics Financial Summit - Chicago 2015

September 16, 2015 - September 18, 2015Plastics Caps & Closures - September 2015

More Events