SMTC Corporation Receives 5-year, $9 Million Contract from the United States Navy
January 17 2019 - 6:00AM
SMTC Corporation (Nasdaq:SMTX), a global electronics manufacturing
services provider today announced that SMTC’s subsidiary MC Test
Services, Inc. was recently awarded a $9 million, 5-year
contract to support the U.S. Naval Undersea Warfare Center
Division. SMTC expects to begin production, and provide full
engineering, testing, and support for the MK48 MOD 6 Exercise
Electronics System and Torpedo Swim Out Box beginning in the second
quarter of 2019. This new application will be in full compliance
with all domestic and foreign contract requirements.
“We are honored for the opportunity to support our United States
Navy and our nation’s platforms and look forward to providing these
systems with the highest level of quality and reliability for many
years to come,” said Ed Smith, SMTC’s President and CEO. “The
Navy’s selection of our Company reflects positively on our
commitment to operational excellence and employing the latest in
manufacturing technology to support defense and aerospace
requirements,” Smith added.
About SMTC Corporation
SMTC Corporation was founded in 1985 and acquired MC Assembly
Holdings, Inc. in November 2018. Following this acquisition,
SMTC has more than 50 manufacturing and assembly lines in United
States, China and Mexico which creates a powerful low-to-medium
volume, high-mix, end-to-end global EMS provider. With local
support and expanded manufacturing capabilities globally, including
fully integrated contract manufacturing services with a focus on
global original equipment manufacturers (OEMs) and emerging
technology companies, including those in the medical and safety,
semiconductor, defense and aerospace, telecommunications, computing
and networking, energy, power, industrial and clean technology,
sensing and IoT, retail and payment systems, and test and
measurement industries. As a mid-size provider of end-to-end
electronics manufacturing services (EMS), SMTC provides printed
circuit boards assemblies (PCB production, systems integration and
comprehensive testing services, enclosure fabrication, as well as
product design, sustaining engineering and supply chain management
services. SMTC services extend over the entire electronic product
life cycle from the development and introduction of new products
through to the growth, maturity and end-of-life phases.
SMTC is a public company incorporated in Delaware with its
shares traded on the Nasdaq National Market System under the symbol
SMTX and was added to the Russell Microcap® Index in 2018. For
further information on SMTC Corporation, please visit our website
at www.smtc.com.
Forward-Looking Statements
Except for the factual statements made herein, forward-looking
statements in this press release, including, without limitation,
statements regarding the ability to execute and receive payment for
the contract to support the U.S. Naval Undersea Warfare Center
Division as well as the company’s plans and ability to successfully
integrate and achieve the anticipated benefits from its acquisition
of MC Assembly Holdings, Inc., are forward-looking statements
within the meaning of the Private Securities Litigation Reform Act
of 1995. These forward-looking statements are subject to risks and
uncertainties that could cause actual results to differ materially
from those projected, including those risk factors set forth in
SMTC’s Form 10-K for the year ended December 31, 2017 and other
factors detailed from time to time in our periodic reports filed
with the Securities and Exchange Commission (SEC). The company
undertakes no obligation to update publicly any of these
forward-looking statements to reflect actual results, new
information or future events, changes in assumptions or changes in
other factors affecting forward-looking statements, except to the
extent required by applicable laws. If the Company updates one or
more forward-looking statements, no inference should be drawn that
the Company will make additional updates with respect to those or
other forward-looking statements.
SMTC Investor Relations Contact
Peter SeltzbergManaging DirectorDarrow Associates,
Inc.516-419-9915 pseltzberg@darrowir.com
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