Viasystems Group Acquires Marconi Communications' Network Components
3 April 2000
Viasystems Group, Inc. Acquires Marconi Communications' Network Components and Services European and China Operations
ST. LOUIS--March 30, 2000--Viasystems Group, Inc. , a leading global provider of electronics manufacturing services, announced today that it has completed the acquisition of Marconi Communications' Network Components & Services European and China operations ("NC&S"). NC&S, previously known as RELTEC-Europe and Shanghai-RELTEC, was acquired in April 1999 as part of Marconi plc's acquisition of RELTEC Corporation ("RELTEC"). In 1999, NC&S had revenues of approximately $150 million."We are pleased to successfully complete the acquisition of Marconi's European and China NC&S operations," said James N. Mills, chairman and chief executive officer of Viasystems. "Marconi has been, and will continue to be, a significant customer for Viasystems and we are thrilled to strengthen and expand our relationship with this acquisition. In addition, the assets acquired are positioned in key markets in Europe and China and offer additional customer relationships, which enhance Viasystems' global reach," Mills added.
"Marconi Communications is pleased that we have successfully completed this transaction. Viasystems will continue to be a key supplier to Marconi and, with their technologies and capabilities, will offer our customers and employees associated with this business an exciting future," said Patrick L. Welker, executive vice president, Marconi Communications.
NC&S, a leading manufacturer of enclosures, electromechanical assemblies and sub-assemblies designed for the telecommunications marketplace, has five facilities, comprising 540,000 square feet, located throughout Europe and China which include Coventry, England; Ballynahinch, Northern Ireland; Terni, Italy; Beijing, China and Shanghai, China. Additionally, through a joint venture, NC&S operates two manufacturing facilities, located in Skive, Denmark and Spartanburg, South Carolina, which produce heat management systems.
NC&S's products include integrated enclosures, racks and sub-racks, heat management systems, cable assemblies, customized power supplies and plastic products, which are used to integrate and protect the electronic and electrical devices necessary to operate telecommunications networks. NC&S's products are sold primarily to OEMs in the telecommunications market such as Nokia, Marconi Communications, Italtel, Siemens and Lucent Technologies.
The acquisition of NC&S strengthens and complements Viasystems' EMS footprint in both Europe and China, allowing Viasystems to offer its customer base the broadest range of capabilities of EMS providers on a global basis. Viasystems' capabilities in North America, Europe and Asia-Pacific include design and prototype services, printed circuit board and backplane fabrication and assembly, cable assembly and wire harnessing, as well as full systems integration and test. Viasystems' technological leadership status as an EMS provider, combined with customer relationships and the market presence provided by NC&S in Europe and China, positions Viasystems as a premier, global EMS provider for the telecommunications and networking industries.
Based in St. Louis, Mo., Viasystems Group, Inc. is a leading global EMS provider with 20,000 employees and 27 manufacturing facilities in eight countries, supplying customers in the telecommunications, networking, automotive and consumer electronics industries. Viasystems was formed in 1996 by Hicks, Muse, Tate and Furst and Mills and Partners, Inc., and is listed on the New York Stock Exchange, trading under the symbol "VG."
Marconi plc (LONDON: MNI) is one of the world's fastest growing communications and IT companies with a strong record of innovation and technological breakthroughs. It is a world leader in smart broadband optical networks and it supplies the key technologies and services for the New Public Network and the Internet. With 45,000 employees worldwide and sales in over 100 countries, it is listed on the London Stock Exchange. The headquarters of Marconi Communications is in Pittsburgh, Pennsylvania.