Viasystems Group, Inc. Plans to Acquire Top Line Electronics Corporation
28 April 2000
Viasystems Group, Inc. Plans to Acquire Top Line Electronics Corporation
ST. LOUIS--April 28, 2000--Viasystems Group, Inc. (NYSE: VG), a leading global provider of electronics manufacturing services, announced today that it has entered into an agreement to acquire Top Line Electronics Corporation (the "Company"), a full turnkey electronics manufacturing services provider located in San Jose, California. Terms of the transaction were not disclosed. The transaction is expected to close by the end of the second quarter of 2000."The acquisition of Top Line Electronics Corporation strengthens Viasystems' geographic footprint on the West Coast of the United States," said James N. Mills, chairman and chief executive officer of Viasystems. "Top Line's customer base in the high-growth market segments of telecommunications and networking complements the strategic sales focus of Viasystems."
"Being acquired by Viasystems is a tremendous and exciting leap for Top Line into a global organization," said Daniel Chen, president and chief executive officer, Top Line. "As Viasystems obtains strategic market strength in the Silicon Valley and additional box build capabilities, Top Line achieves immediate global reach and a diversified customer base in the telecommunications and networking industries."
As a total turnkey solution services supplier, Top Line's manufacturing competency is concentrated on complex, high-mix printed circuit board assembly. Top Line's extensive list of capabilities covers a wide range of full box build requirements including design for manufacture (DFM), design for test (DFT), surface-mount technology (SMT), ball grid array (BGA), mixed technology assembly, components procurement, assembly, testing, burn-in, box build, and packaging and order fulfillment.
"We intend to enhance those capabilities," said Timothy L. Conlon, president and chief operating officer of Viasystems, "by adding Viasystems' backplane assembly expertise to their facilities. Backplane assembly in the Bay area will enable us to better serve our combined customer base."
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 is listed on the New York Stock Exchange, trading under the symbol "VG."
www.viasystems.com