SMTC Completes Qualtron Acquisition

Adds fiber optics connector and cable assemblies to SMTC's portfolio of electronics manufacturing services

November 23, 2000

1 Min Read

SMTC Corporation (Nasdaq: SMTX), (TSE: SMX), a rapidly growing global electronics manufacturing services (EMS) provider to the technology industry, today announced it has closed its previously announced acquisition of privately held Qualtron Teoranta.

With its facilities in Ireland and Massachusetts, Qualtron is a leading provider of specialized cable and harness assemblies. Qualtron offers a broad range of services focusing on single-mode and multi-mode fiber optic connector assemblies and volume cable assemblies utilizing coaxial, ribbon cable, shielded and tight pair technologies.

The $26.3 million transaction was funded with 547,114 exchangeable shares of SMTC Manufacturing Corporation of Canada and $13.4 million of cash. Qualtron, with more than 300 employees in its European and North American operations, is expected to generate revenue of approximately U.S.$25 million during 2000.

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