Here's some news that I like to see - the best part notes that "revenue from the program is expected to commence in the fourth quarter, and is expected to exceed tens of millions of dollars in 1999."
This baby may be ready for liftoff. At least we can hope so.
Joe
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Copyright 1998 CMP Publications, Inc.
Electronic Buyers' News
November 2, 1998
HEADLINE: Smartflex raises stake in Mexico
BYLINE: Darrell Dunn
Smartflex Systems Inc., a contract electronics manufacturer in Tustin, Calif., specializing in flexible printed-circuit boards, has established a second Mexican subsidiary.
Smartflex Systems de Guadalajara SA de CV initially will operate as part of a "vendor-in-house" program with IBM Corp. in Guadalajara. Smartflex will use the subsidiary to manufacture and test subassembly sliders used with magnetoresistive and giant magnetoresistive heads for hard-disk-drive applications.
The subsidiary will operate within IBM's facility using consigned inventory. Smartflex will be responsible for manufacturing, materials, engineering, and the administrative management necessary to provide production volumes for IBM hard-drive customers.
Revenue from the program is expected to commence in the fourth quarter, and is expected to exceed tens of millions of dollars in 1999.
IBM officials worked closely with Smartflex through its manufacturing plant in Monterrey, Mexico, prior to signing the new agreement, said William Healey, president and chief executive of Smartflex.
Smartflex established its first Mexican subsidiary, Smartflex Systems de Monterrey SA de CV, in 1988. It also has a manufacturing plant in the Philippines, as well as prototype production plants at its headquarters and in Singapore.
The company initially will hire about 300 workers to staff the Guadalajara plant, but expects to increase that number to approximately 1,000 by the second quarter of 1999, said Dick Bell, Smartflex's vice president of sales.
Smartflex will look to establish similar in-house operations with other OEMs in Guadalajara, he added.
Copyright 1998 CMP Media Inc. |
