Global Citizenship: What I’ve Learned About the American PCB Business
Global Sourcing Spotlight: The Best Products to Buy Offshore Through Global Sourcing
Nolan's Notes: The Rise (and Risk) of Data
Kimball Electronics Completes Acquisition of GES
October 2, 2018 | Globe NewswireEstimated reading time: 2 minutes
Acting through its wholly owned subsidiaries, Kimball Electronics Inc. has completed the purchase of substantially all of the assets and assumed certain liabilities of GES Holdings Inc., Global Equipment Services and Manufacturing Inc., and its subsidiaries (GES). As previously announced, the price was approximately $50 million plus the assumed liabilities.
"The acquisition of GES is the first significant step in our new platform strategy and our plans to continue our development beyond EMS to a multifaceted manufacturing solutions company," stated Chris Thyen, Vice President, New Platforms, Kimball Electronics. "GES brings us new technologies and capabilities in automation, test, and measurement that will open new doors with new and existing customers."
"We are all very excited to be joining the Kimball family and to continue our journey with our new colleagues. Both companies have a long track record of customer service excellence. Together, we have an even greater opportunity to help build our customers' success," stated Don Tran, Vice President, General Manager, GES.
"I am delighted to welcome the GES global team and the additional expertise they will bring our global company," stated Don Charron, chairman and CEO, Kimball Electronics. "I look forward to working with Chris and Don Tran as we execute our new platform strategy involving GES and continue our relentless pursuit to build lasting relationships and global success."
In fiscal year 2019, GES is expected to add 4% to 6%, reflecting seasonality, to Kimball Electronics consolidated net sales and to be neutral to slightly accretive to earnings per share.
About GES, Inc.
GES, headquartered in San Jose, California, specializes in production processing and test equipment design, volume manufacturing, and global services for the semiconductor and electronics product manufacturing industry. GES has business operations in China, India, Japan, the United States, and Vietnam.
About Kimball Electronics, Inc.
Recognized with a reputation for excellence, Kimball Electronics is committed to a high performance culture that values personal and organizational commitment to quality, reliability, value, speed, and ethical behavior. Kimball Electronics employees know they are part of a company culture that builds lasting relationships and global success for customers while enabling employees to share in the Company’s success through personal, professional, and financial growth.
Kimball Electronics trades under the symbol “KE” on The NASDAQ Stock Market. Kimball Electronics is a global contract electronics manufacturing services (EMS) company that specializes in durable electronics for the automotive, medical, industrial, and public safety end markets. Kimball Electronics also offers diversified contract manufacturing services for non-electronic components, medical disposables, plastics, and metal fabrication. Kimball Electronics is well recognized by customers and industry trade publications for its excellent quality, reliability, and innovative service. From its manufacturing operations in the United States, China, Mexico, Poland, Romania, and Thailand, Kimball Electronics provides contract manufacturing services, including engineering and supply chain support, which utilize common production and support capabilities to a variety of industries globally. Kimball Electronics is headquartered in Jasper, Indiana.
To learn more about Kimball Electronics, click here.
Share on:
Suggested Items
PCB Design Software Market Expected to Hit $9.2B by 2031
11/21/2024 | openPRThis report provides an overview of the PCB design software market, detailing key market drivers, challenges, technological advancements, regional dynamics, and future trends. With a projected compound annual growth rate (CAGR) of 13.4% from 2024 to 2031, the market is expected to grow from USD 3.9 billion in 2024 to USD 9.2 billion by 2031.
IPC Issues Clarion Call for EU to Reclaim Leadership in Electronics Manufacturing
11/21/2024 | IPCIPC released a synopsis of its recent white paper, Securing the European Union’s Electronics Ecosystem. This condensed document presents a comprehensive overview of the current challenges in Europe’s electronics manufacturing industry and shares actionable steps to help the EU achieve a stronger, more autonomous ecosystem.
IPC Celebrates National Apprenticeship Week with a Focus on Electronics Manufacturing Excellence
11/19/2024 | IPCIPC, a leading global electronics industry association and source for industry standards, training and advocacy, is proud to announce its participation in National Apprenticeship Week, scheduled for November 17-23, 2024.
IPC Introduces First Standard for In-Mold Electronics
11/18/2024 | IPCIPC announces the release of IPC-8401, Guidelines for In-Mold Electronics. IPC-8401 addresses in-mold electronics (IME) technology, providing industry consensus on guidelines for manufacturing processes, part structures, material selection, and production test methods to integrate printed electronics and components into 3D smart structures.
Disruptive Innovation and Generative AI Inventor, Kevin Surace, to Keynote IPC APEX EXPO 2025
11/15/2024 | IPCEach year, IPC APEX EXPO features industry’s most dynamic, innovative minds to deliver keynote presentations that are both educational and entertaining. IPC APEX EXPO 2025 will feature Kevin Surace, an internationally renowned futurist and generative artificial intelligence (AI) innovator.