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TTM TECHNOLOGIES, INC. COMPLETES ACQUISITION OF PRINTED CIRCUIT GROUP OF TYCO INTERNATIONAL LTD.
SANTA ANA, CA – October 27, 2006 – TTM Technologies, Inc. (Nasdaq: TTMI), a leading manufacturer of time-critical and technologically advanced printed circuit boards (PCBs), today announced completion of the acquisition of the Tyco Printed Circuit Group business unit from Tyco International Ltd. (NYSE: TYC, BSX: TYC). Tyco Printed Circuit Group is a leading producer of complex, high performance and specialty printed circuit boards and one of the major suppliers of military and aerospace PCBs in North America.
The purchase price of $226 million was financed with a $200 million, 6-year term loan and cash on the balance sheet. The term loan has no prepayment penalties and carries an interest rate of LIBOR + 225 basis points. TTM also has a $40 million unused revolving credit facility.
“Tyco Printed Circuit Group has a strong reputation for its advanced technological capabilities and excellence in customer service,” said Kent Alder, President and CEO of TTM Technologies. “Together, our diversified customer base and end-market exposure, expanded geographic presence, and additional purchasing leverage will make us a more formidable competitor with greater-than-ever opportunities for growth and profitability.”
Conference Call/Webcast
TTM will discuss the acquisition and respond to questions during its third quarter conference call hosted on Wednesday, November 1, 2006, at 4:30 p.m. Eastern/1:30 p.m. Pacific time. Telephone access is available by dialing 800-946-0783. The call also will be simulcast and available for replay until November 8, 2006, on the company’s website, www.ttmtech.com.
TTM Technologies, Inc. is a leading supplier of time-critical and technologically advanced printed circuit boards to original equipment manufacturers and electronics manufacturing services companies. TTM stands for time-to-market, representing how the company’s time-critical, one-stop manufacturing services enable customers to shorten the time required to develop new products and bring them to market.
TTM Technologies ranks No. 58 on FORTUNE's 100 Fastest-Growing Companies List
September 21 2006: 10:02 AM EDT
(Fortune) -- TTM Technologies (Charts) ranks no. 58 on Fortune's 2006 list of the 100 Fastest-Growing Companies. The Santa Ana, California-based company saw profits rise at a rate of 143% and revenues grow 35% with a stock return of 46% on average annually over the past three years. The company ranked 83 on the 2005 list. Each year, Fortune's ranking of Fastest-Growing Companies provides a snapshot of America's economy. Fortune's 100 Fastest-Growing Companies list is an annual ranking of U.S. companies by three-year growth in sales, profits and total return that meet key criteria for sales, profit and market capitalization size and sales and profit growth. If you would like further information, please take a look at the Fortune Magazine website. 1TTM Technologies, Inc. Reports Strong Second Quarter 2006 ResultsSANTA ANA, Calif., July 26 /PRNewswire-FirstCall/ -- TTM Technologies, Inc. (Nasdaq: TTMI - News), a leading manufacturer of time-critical and technologically advanced printed circuit boards, today reported results for the second quarter of 2006. Second-Quarter Results Second quarter 2006 net sales increased $4.0 million, or 5.5 percent, to a record $76.7 million from $72.7 million in the first quarter of 2006 and increased $19.5 million, or 34.0 percent, from $57.2 million in the second quarter of 2005. These favorable comparisons resulted from strong pricing and rising demand. For the second quarter of 2006, quick-turn business represented 19.5 percent of net sales, compared to 20.7 percent for the first quarter of 2006 and 21.8 percent for the second quarter of 2005. Gross margin increased to 30.0 percent for the second quarter of 2006 from 27.8 percent in the first quarter of 2006 and 19.3 percent for the second quarter of 2005. Gross margin benefited from higher prices as well as better absorption of fixed costs due to increased production. General and administrative expense, including amortization of intangibles, was $4.0 million in the second quarter of 2006, an increase of $80,000 over the first quarter of 2006 and $628,000 over the year-ago period. As a percent of sales, G&A expense declined to 5.2 percent in the second quarter of 2006, compared to 5.3 percent in the first quarter of 2006 and 5.8 percent in the second quarter of 2005. The year-over-year increase in G&A expense was due primarily to higher incentive compensation expense and stock-based compensation expense. As a result of strong revenue growth and higher profitability, TTM posted operating income of $15.6 million for the second quarter of 2006, compared to $13.0 million for the first quarter of 2006 and $4.8 million for the second quarter of 2005. Net income for the second quarter of 2006 was $10.6 million, or $0.25 per diluted share, compared with $8.8 million, or $0.21 per diluted share, for the first quarter of 2006, and $3.3 million, or $0.08 per diluted share, for the second quarter of 2005. EBITDA (earnings before interest, taxes, depreciation and amortization) increased to $19.4 million for the second quarter of 2006 from $16.7 million for the first quarter of 2006 and $7.9 million for the second quarter of 2005. In the second quarter of 2006, TTM generated cash flow from operations of $10.8 million, enabling it to fund net capital expenditures of $2.3 million, while expanding its cash and short-term investments to a total of $101.2 million, an increase of $10.7 million during the quarter. “We again posted excellent results in the second quarter of 2006 as we capitalized on solid market conditions and continued to execute our time and technology strategy. We are proud of the fact that we consistently increase market share and generate superior profitability in the printed circuit board marketplace,” said Kent Alder, President and CEO of TTM Technologies. Outlook For the third quarter of 2006, TTM is estimating revenues in a range of $73 million to $78 million and earnings in a range of $0.20 to $0.25 per diluted share. “Business indicators for the printed circuit board industry, while somewhat mixed, suggest relative stability in the third quarter of 2006,” concluded Alder. “And TTM will continue to expand on its time and technology leadership.” Conference Call/Webcast TTM Technologies, Inc. is a leading supplier of time-critical and technologically advanced printed circuit boards to original equipment manufacturers and electronics manufacturing services companies. TTM stands for time-to-market, representing how the company’s time-critical, one-stop manufacturing services enable customers to shorten the time required to develop new products and bring them to market. The company will conduct a conference call to discuss its second-quarter performance and outlook today at 4:30 p.m. Eastern/1:30 p.m. Pacific time. The call will be simulcast and available for replay until August 3, 2006, on the company’s website, http://www.ttmtech.com . This release contains forward-looking statements that relate to future events or performance. These statements reflect the company’s current expectations, and the company does not undertake to update or revise these forward-looking statements, even if experience or future changes make it clear that any projected results expressed or implied in this or other company statements will not be realized. Furthermore, readers are cautioned that these statements involve risks and uncertainties, many of which are beyond the company’s control, which could cause actual results to differ materially from the forward-looking statements. These risks and uncertainties include, but are not limited to, the company’s dependence upon the electronics industry, the company’s dependence upon a small number of customers, general economic conditions and specific conditions in the markets TTM addresses, the unpredictability of and potential fluctuation in future revenues and operating results, increased competition from low-cost foreign manufacturers, and other “Risk Factors” set forth in the company’s most recent SEC filings.
TTM Technologies, Inc. has been selected for the NASDAQ Global Select Market
SANTA ANA, CA (June 26, 2006) TTM Technologies, Inc.
has been selected for the NASDAQ Global Select
Market. The NASDAQ Global Select Market has the
highest initial listing standards of any exchange in
the world based on financial and liquidity
requirements. Prior to the change, TTM had been
listed on the NASDAQ
National Market. Being included in NASDAQ's premier listing tier is a true reflection of TTM’s stature and achievement as a public company.
TTM Technologies Selected as One of the Top 100 HOT GROWTH Companies by Business Week.
SANTA ANA, CA (June 22, 2006) TTM Technologies, Inc was recently selected by Business Week in the June issue as one of the top 100 Hot Growth companies. TTM was ranked 60 out of 100. This ranking was based on sales and earnings growth, as well as a return on capital over three years and stock that trades for at least $5 a share. Only finalists whose shares rose at least 5% over the past 12 months were included.
We were also recently selected by Business 2.0 as one of the fastest growing companies in the US. TTM was ranked 90 of 100.
Business 2.0 screened a universe of more than 2,000 tech companies that have been publicly traded on a US stock exchange for at least three years, have a market capitalization of at least $50 million and have had a positive operating cash flow over the past 12 months.
TTM Technologies, Inc. Named One of Orange County's Fastest Growing Technology Companies in Deloitte's Technology Fast 50 Program SANTA ANA, CA - September 21, 2005 - TTM Technologies, Inc. (NASDAQ: TTMI), a leading manufacturer of time-critical, technologically advanced printed circuit boards, has been named to Deloitte's prestigious Technology Fast 50 Program for Orange County, a ranking of the 50 fastest growing technology companies in Orange County by Deloitte & Touche LLP, one of the nation's leading professional services firms. Scheduled to be announced at the Orange County awards luncheon on October 11, 2005, Technology Fast 50 rankings are based on percentage revenue growth over five years (2000 - 2004). Kent Alder, President and CEO of TTM Technologies, credits TTM's unique combination of speed, technology and focused business vision with fueling the company's rapid growth over the past five years. "Our strategy has not changed since TTM's inception, and this has served us well throughout the electronics industry cycle," said Mr Alder. "We will continue to use our time and technology approach to deliver quality products and services to our customers and superior growth and profitability to our shareholders." To qualify for the Technology Fast 50, companies must have had operating revenues of at least $50,000 in 2000 and $1,000,000 in 2004, must be a public or private company headquartered in North America, and must be a "technology company," defined as a company that owns proprietary technology that contributes to a significant portion of the company's operating revenues or devotes a significant proportion of revenues to the research and development of technology. Use of other companies' technology in a unique way does not qualify. Winners of the 15 regional Technology Fast 50 programs in the United States and Canada are automatically entered in Deloitte's Technology Fast 500 program, which ranks North America's top 500 fastest growing technology companies. TTM Technologies, Inc. is a leading supplier of time-critical and technologically advanced printed circuit boards to original equipment manufacturers and electronic manufacturing services companies. TTM stands for time-to-market, representing how the company's time-critical, one-stop manufacturing services enable customers to shorten the time required to develop new products and bring them to market.
TTM Technologies announces Director of Technology
March 24, 2005 Michael Moisan has joined TTM Technologies as Director of Technology for the Santa Ana Division. He holds divisional responsibility for technology development, as well as management of the process and manufacturing engineering personnel. On a corporate scope, he will represent the Santa Ana Division in cross-divisional engineering efforts to maximize the capabilities and product offerings of all three of TTM's facilities. Mr. Moisan brings over 25 years of experience in the industry most recently with Dynamic Details, Inc. where he successfully served in many roles, including Chief Operating Officer. He is the recipient of the 2003 IPC Advanced Technology Award for his work with stacked microvia technology. He holds a BS degree in Chemistry from SUNY, Plattsburgh and an MBA from Adelphi University.
TTM Technologies announces Quick Turn Cut-Off Times
January 19, 2005 TTM Santa Ana's cut-off times and protocol remain unchanged and are listed below for reference.
TTM Redmond has new path of escalation, 48 hour turns are now counted hour to hour, and they will request a P.O. or something in writing directly from the customer. The clock won't start with just an AOF.
Here are the cut-off times for our quick-turn facilities.
Redmond
Santa Ana
TTM TechnologiesAnnounces Director of Engineering
(November 1, 2004)--Frank Ryan has joined TTM Technologies' Redmond Division as Director of Engineering. He holds responsibility for Process Engineering, New Product Technology, Pre-Production Engineering, and the Division's laboratory.
Mr. Ryan brings twelve years of engineering experience to the position. Prior to joining TTM, he was the New Product Technology Manager for Sanmina-SCI Corporation in Owego. In that position, he was responsible for their Program Management, Research and Development, and New Product Introduction. Additionally, he has worked for Sanmina-SCI, PNC, and IBM in positions including Senior Engineering Manager, Team Leader, and Principle Wet Process Engineer. Mr. Ryan holds a Bachelor of Science in Chemical Engineering from Columbia University.
Contact: Stacey Peterson Chief Financial Officer 714/241-0303 TTM TECHNOLOGIES, INC. ACQUIRES HONEYWELLS ADVANCED CIRCUITS OPERATION; CONFERENCE CALL ON DECEMBER 30 AT 4:30 P.M. EST REDMOND, WA December 26, 2002 TTM Technologies, Inc. (Nasdaq: TTMI), a leading manufacturer of time-critical, technologically advanced printed circuit boards, today announced it has acquired Honeywells Advanced Circuits operation (ACI). The total cost of the acquisition is approximately $2 million, including fees and expenses. Advanced Circuits provides an excellent complement to our existing operations and is a tremendous fit with our successful time and technology strategy, said Kent Alder, chief executive officer of TTM Technologies. In addition to its high technology capacity, ACI will give us access to additional blue-chip clients, creating opportunities to cross sell our quick-turn capabilities. ACI participates in the very high technology end of the printed circuit board industry, with an average layer count of approximately 18 and expertise in specialty materials. Its major customers include Cisco, Sun Microsystems, IBM, Celestica and Solectron. ACI currently employs 700 workers at its only facility in Chippewa Falls, Wisconsin, and has fourth-quarter annualized revenues of an estimated $80 to $90 million. While this operation represented a non-core asset for Honeywell, time critical, technologically advanced printed circuit boards are our only business, continued Alder. With active integration and management, we expect to enhance the operating efficiency and the profitability at ACI, given our core focus on printed circuit boards and our commitment to low corporate overhead. ACI fills a strategic need for TTM and gives us high-tech capabilities at an attractive price, concluded Alder. We are committed to maintaining ACIs position at the high end of the printed circuit board industry and making its operations profitable in 2003. TTM Technologies, Inc. is a leading supplier of time-critical, technologically advanced printed circuit boards to original equipment manufacturers and electronics manufacturing services companies. TTM stands for time-to-market, representing how the companys time-critical, one-stop manufacturing services enable customers to shorten the time required to develop new products and bring them to market. Conference Call/Webcast The company will conduct a conference call to discuss the acquisition on Monday, December 30, at 4:30 p.m. Eastern/1:30 p.m. Pacific time. The dial-in number for the call is 800-915-4836, or 973-317-5319 for international callers. Replay of the call will be available from 6:30 p.m. Eastern time on Monday, December 30, until 6:30 p.m. Eastern time on Thursday, January 2, 2003. To access the replay, dial 800-428-6051, or 973-
TTM Technologies Receives Supplier Award from Plexus
SANTA ANA, CA, June 6, 2001: TTM Technologies (NASDAQ: TTMI), a leading provider of complex printed circuit boards, today announced that it was honored with the Outstanding Supplier Achievement Award in the quick-turn printed circuit board fabrication category by Plexus Corp. Plexus, as part of its Supplier Day, honored two printed circuit board vendors one for production and one for quick-turn.
"We are pleased to be honored with this award, " said Kent Alder, CEO of TTM Technologies. "Our mission is to be recognized as the leading provider of time-to-market, high technology interconnect solutions and this award meets that objective. We look forward to expanding our relationship with Plexus."
"TTM Technologies is a PCB supplier that Plexus has developed over the last year to support our quick-turn high layer PCBs," stated Steve Williams, Corporate PCB Commodity Manager. "TTM has been instrumental in a number of our successful customer program launches."
About TTM Technologies
TTM Technologies assists its customers in bringing sophisticated electronic products to market faster by offering one-stop (prototype, ramp-to-volume and volume) printed circuit board capabilities and services for the computing, telecom, instrumentation and various other markets. The Santa Ana division services the time-critical prototype and ramp-to-volume segments of the PCB market. The Redmond division services ramp-to-volume and volume segments of the PCB market. On a combined basis, the company services over 600 customers, employs over 1,000 people and has annual revenue in excess of $200 million. Further information about TTM Technologies can be found on its website at www.ttmtech.com.
About Plexus Corp.
Headquartered in Neenah, Wis., Plexus provides product realization services to original equipment manufacturers (OEMs) in the networking/data communications, medical, industrial, and computer industries. Plexus offers engineering and product development, New Product Introduction (NPI), prototyping, material procurement and management, assembly, testing, manufacturing, final system box build, fulfillment and sustaining services. Further information about Plexus can be found on its website at http://www.plexus.com.
TTM Technologies Enhances Application Engineering Capabilities
REDMOND, WA May 23, 2001: TTM Technologies announced that it has enhanced its application engineering capabilities. The up-front critical design review insures that customer designs can be manufactured through all stages of the product's lifecycle.
TTM Technologies utilizes a team approach to design review, relying on key department heads for special assistance related to unique fabrication aspects of the design. The teams operate under the guidance of two Field Application Engineers at the Santa Ana division, Kip Anderson (714-327-3034, kanderson@ttmtech.com) and Gary Abel (714-327-3017, gabel@ttmtech.com).
Kip has over 25 years of experience in the printed circuit industry, including responsibilities as an engineering manager and inside sales manager. Gary has been in the printed circuit industry over 23 years as a production manager, engineering manager, and customer service manager. Through sales representatives, Kip and Gary receive and respond to customer design review requests. Examples of specific application services offered are listed below.
Design For Manufacturability (DFM) Review
TTM Technologies' DFM services help customers achieve higher yields, thereby reducing costs. A DFM review can include the following:
· Dimensional tolerances assessment
· Trace-to-space and pad-to-hole relationships
· Registration factors assessment
· Solder mask capabilities
· Pattern symmetry and thieving
· Consolidated DFM Report
Material Selection & Panelization
TTM can assist in selecting laminate materials to meet the application performance requirement as well as assist with panelization. A material/panelization review can include the following:
· Dielectric materials specification and recommendations
· Solderable or wire-bondable surface finish options
· Sub-panel (array) creation from one-up data
· Re-stepping of existing sub-panels to meet specific needs
Impedance Calculations
Impedance calculation is a valuable tool to ensure seamless transition of the design into fabrication. TTM Technologies is an industry leader in the manufacturing of controlled-impedance designs, including but not limited to: · Single ended microstrip and stripline, including close-tolerance (<10%)
· Differential impedance, including both edge-coupled and broadside-coupled models
Electrical Netlist Comparison
To help ensure data integrity, TTM will verify CAD generated netlist against the Gerber-extracted netlist on all orders. This service is offered at no charge.
· For time-critical delivery requirements, the netlist comparison can be done in parallel with manufacturing
· For 5-day turns and above, the netlist comparison can also be offered as a pre-production engineering service · IPC-D-356 is the preferred standard for net list submission, however, we also support several neutral file formats
About TTM Technologies
TTM Technologies assists its customers in bringing sophisticated electronic products to market faster by offering one-stop (prototype, ramp-to-volume and volume) printed circuit board capabilities and services for the computing, telecom, instrumentation and various other markets. The Santa Ana division services the time-critical prototype and ramp-to-volume segments of the PCB market. The Redmond division services the ramp-to-volume and volume segments of the PCB market. TTM Technologies services over 600 customers, employs over 1,000 people, and has annual revenue in excess of $200 million. Redmond Division Goes Live With Immersion Gold Line In addition to the immersion gold finish, the Redmond division continues to offer HASL, electrolytic
gold and OSP board finishes. The Santa Ana division offers HASL, electrolytic gold, immersion gold, OSP, immersion silver and immersion tin board finishes.
Santa Ana Division Makes Available Immersion Silver Surface Finish
DALLAS, Texas - (March 1, 2000) The North Texas Chapter IPC Designers Council announced today that it will host a conference entitled "PCB Design for the ATE Industry" on May 11-12th, 2000 at the Omni Hotel in Richardson [Dallas], Texas. This two-day conference is a nationwide "first of its kind" event that will focus in on the special design requirements of printed circuit board technology specifically for Semiconductor Automated Test Equipment.
Andy Kowalewski, President of the North Texas Chapter IPC Designers Council said, "The design of Probe Cards has become increasingly complicated in response to the increasing density, performance and complexity of integrated circuits. Testing modern integrated circuits on large wafers with finer features at higher clock speeds demands special skills in designing the Probe Card."
The North Texas Chapter feels that the Semiconductor ATE industry is suffering from a shortage of skilled designers to address this problem, which is felt acutely by the semiconductor manufacturers in the North Texas area. The North Texas Chapter through its commitment to its members and to the entire design community decided to put together a conference that would help raise the skill levels of designers and other associated industry professionals to meet the new challenges in the Semiconductor ATE industry. The North Texas Chapter believes that this is the first time this kind of ATE specific conference has ever been done in the United States. They also emphasized that the conference is not limited to members of the IPC Designers Councils or those living in the North Texas area. " We want this conference to be open to all interested participants nationwide, both designers and those in allied fields of the ever expanding semiconductor industry here in Dallas and throughout the United States," stated Kowalewski.
Cerprobe, a recognized world leader in the design and manufacture of semiconductor test interconnect solutions is a major partner in this endeavor with the North Texas Chapter IPC Designers Council. Cerprobe is providing the conference training materials in addition to sponsoring the Keynote Speaker and dinner on Thursday evening. Woody Adams, who began his career in ATE design at Texas Instruments in 1987 and is currently the Regional Sales Manager for Cerprobe in Dallas, will be the lead instructor for the conference. Adams also teaches printed circuit board design courses at Collin County Community College in Frisco, Texas. Additional instructors include Glenn Wells, Certified IPC Designer, accredited Designers Council Instructor, instructor at Collin County Community College and a winner of the 1999 Top Gun Award at PCB Design West, and Dwight Schirmer, service bureau owner and a certified designer.
This two-day conference is designed to benefit the entry level designer up through the seasoned industry professional to gain a thorough understanding of ATE design from concept through board fabrication and assembly while addressing the major mechanical and electrical issues specific to these designs. The more experienced can gain an intimate understanding of the reasons behind the ATE design process as it relates to ATE Test boards, Probe Cards, Interface boards, DUT Cards, Evaluation Boards and Burn-In Boards. Detailed topics will include DUT orientation, unique power distribution issues and de-coupling and impedance control requirements. Various tester similarities and differences along with routing strategies for each type tester will be covered. Alternative printed circuit board materials, finishes and specialized fabrication requirements will also be discussed.
The North Texas Chapter IPC Designers Council's mission is to promote printed circuit board design as a profession and to encourage, facilitate and promote the exchange of information of new design concepts. This is accomplished through communications, seminars, workshops, professional certification and conferences through a network of local chapters. This conference will help PCB designers, test engineers, CAD librarians, test managers, application engineers, assembly technicians, engineering managers and anyone with an interest in the semiconductor and ATE test markets.
The cost for the two-day conference is $395.00 for IPC Design Council Members nationwide, and $495.00 for non-members, which includes all lectures, materials and meals. IPC Design Council memberships are also available for only $50.00 per year. The conference will be held at the Omni Hotel, 701 E. Campbell Road, Richardson [Dallas], Texas. Special room rates are available to conference attendees of $125.00 for May 10-11 ad $89.00 for May 12-13. Call 1-800-843-3331 and ask for "ATE Conference" rates. Reservations must be made by April 21st.
For more information and conference registration forms call Circuit Technology Inc. at 817-481-7281 and ask for Jenny or register on line at: http://www.circuit-technology.com/html/ipc_design_council.html. Deadline for conference registration is also April 21, 2000.
For more information: North Texas Chapter IPC Designers Council: Media/Publicity Officer, Paul Olson. 972-257-0771 or 512-431-3300
Power Circuits and Pacific Circuits Become TTM Technologies
REDMOND, WA September 17, 1999 Pacific Circuits and Power Circuits today announced the name of their new corporate entity TTM Technologies, Inc. The name was chosen specifically to represent the energy and responsiveness of the new organization in bringing time-to-market technologies to its customers. TTM Technologies will assist its customers in bringing sophisticated new products to market faster by offering integrated (prototype, ramp-to-volume and production) printed circuit board capabilities and services. "TTM is now a leading time-to-market provider of sophisticated electronics in the circuit board industry," states Kent Alder, CEO of TTM Technologies. "By combining the quick-turn prototype and ramp-to-volume expertise of Power Circuits with Pacific Circuits' 21 years of success as a ramp-to-volume and volume manufacturer, we can offer genuine integrated capabilities." Alder says the TTM vision will allow our customers to achieve increased market share resulting from an earlier entry of their products into the marketplace. It also solves problems inherently associated with changing suppliers between the prototype and production builds of printed circuit boards.
Shrinking product development cycles, shorter product life cycles and more responsive supply chain management requirements have all become critical elements of successful electronics manufacturers. The new TTM Technologies organization is "custom made" to meet critical time-to-market challenges. Consistent engineering prototype and production process standards between all facilities will save electronics manufacturers tremendous amount of energy, time and money. The newly merged TTM Technologies has three separate facilities Burlington, WA, Redmond, WA and Santa Ana, CA - totaling over 195,000 sq. ft. of manufacturing space. Their quick-turn capabilities include turning out over 25 new jobs per day, up to 12 layer boards in 24 hours, double HDI blind and buried vias in 72 hours, 20+ layer networking cards in 72 hours. Production capacity is over 3000 panels per day. All facilities operate seven-days-a-week, 24-hour a day. TTM Technologies customers over 400 strong -- can look forward to seamless transitions from printed circuit board concept to volume production.
For further information, contact Brad Playford, Vice President of Sales& Marketing at 714-241-0303.
About TTM Technologies TTM Technologies assists its customers in bringing sophisticated electronic products to market faster by offering integrated (prototype, ramp-to-volume and volume) printed circuit board capabilities and services for the computing, telecom, instrumentation and various other markets. The Power Circuits division services the time-critical prototype and ramp-to-volume segments of the PCB market. The Pacific Circuits division services ramp-to-volume and large volume segments of the PCB market. On a combined basis, the company services over 400 customers, employs over 950 people and has annual revenue in excess of $125 million. Thayer Capital Partners, Washington D.C., and Brockway Moran Partners, Boca Raton, Florida, are the majority owners of the newly merged entity.
Pacific Circuits and Power Circuits Announce Merger
SANTA ANA, CA July 15, 1999 Pacific Circuits, Inc., Redmond WA and Power Circuits, Inc., Santa Ana CA have agreed to merge their printed circuit board operations to create one of the leading full service printed circuit board manufacturers in the United States. Pacific Circuits manufactures complex printed circuits primarily for computing, telecom and instrumentation markets on a ramp-to-volume and volume basis. Power Circuits focuses on the time-critical printed circuit board market and primarily targets the communications and networking industries. The merged companies will offer one-stop shopping services across the quick-turn to volume spectrum and will concentrate on higher layer technology applications such as high density interconnects and large panel sizes.
On a combined basis, the Company will have over 950 employees and revenues in excess of $125 million. Kent Alder, CEO of Pacific Circuits, will lead the combined efforts. The founders of Power Circuits, James Eisenberg and Dale Anderson, will continue in the leadership roles at Power Circuits. The Company does not anticipate any changes to the management, employees or sales representatives at either of the businesses.
"We are very pleased to partner with a company whose market reputation and performance is equal to ours," states Pacific Circuits CEO, Alder. "We are very excited to begin working with Power Circuits' management team to better serve the complementary business base of the combined entities."
"Dale and I are excited to be associated with Pacific Circuits," comments Eisenberg, President of Power Circuits. "With this combination, we believe we will set the performance standard of our industry."
"We chose Pacific Circuits because they complement our vision," states Anderson, Vice President at Power Circuits. "We at Power Circuits are confident that the combined organizations will become a premier force in this industry."
Thayer Capital Partners, Washington D.C., and Brockway Moran & Partners, Boca Raton, Florida, will own the majority of the shares of the combined businesses. For further information, please contact either Brad Playford, 714-241-0303 at Power Circuits, Bill Bailey, 425-883-7575 at Pacific Circuits or Jeff Goettman, 202-371-0150 at Thayer Capital Partners. Please contact us at info@circuit-technology.com  |
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