Viasystems, Inc. expands PCB operations in China to meet demands of Its global customers
St. Louis - Viasystems, Inc. announced today a new three-phase expansion plan, whereby it will invest approximately $40-$45 million in its Zhongshan, China PCB operation in both capacity and capabilities.
The three-phase plan is in addition to a $14.5 million capacity and capability expansion that it began during the third quarter of 2007 and which is nearing completion.
The new expansion plan will be made over an 18-month period and will include the construction of a six-story 300,000 square foot building, expansions of its existing waste water treatment facility and power substation, and the purchase of high-tech PCB production equipment.
The additional capacity will be used to address the increasing demand from Viasystems' customers in the automotive, data communications, telecommunications and high-end computing equipment end-markets.
Approximately $12 million of the $40-$45 million investment will be spent in 2008. This amount is included in the total capital spend for 2008 of approximately $80 million disclosed in Viasystems' 10-K filing.
"This expansion of our capacity and manufacturing capabilities in Zhongshan is in response to the increasing demands of our customers for high-tech, high-quality, low-cost products and services," said David M. Sindelar, Chief Executive Officer.
"As a result of these capital investments, we will increase our Zhongshan production capacity by approximately 60%. In addition to expanding capacity, we will continue to enhance our position as a technology leader in China.
Viasystems remains committed to upgrading its China PCB operations. The investments in Zhongshan alone will total approximately $55-$60 million over the two-year period from September 2007 through September 2009."
This press release contains forward-looking statements as defined by the federal securities laws, and these statements are based upon Viasystems' current expectations and assumptions, which are inherently subject to various risks and uncertainties that could cause actual results to differ from those anticipated, projected, or implied.
Certain factors that could cause actual results to differ include fluctuations in operating results and customer orders, a competitive environment, reliance on large customers, risks associated with international operations, ability to protect patents and trade secrets, environmental laws and regulations, relationship with unionized employees, risks associated with acquisitions, substantial indebtedness, control by large stockholders and other factors described in Viasystems' filings with the Securities and Exchange Commission.
Viasystems, Inc. is a world-wide provider of complex multi-layer PCBs and electro-mechanical solutions.
The company's 14,000 employees serve more than 125 customers in the automotive, telecommunications, computer and data communications and industrial and instrumentation/medical consumer markets.
Viasystems, Inc.Kelly E. Wetzler, 314-746-2217
St. Louis - Viasystems, Inc. announced today a new three-phase expansion plan, whereby it will invest approximately $40-$45 million in its Zhongshan, China PCB operation in both capacity and capabilities.
The three-phase plan is in addition to a $14.5 million capacity and capability expansion that it began during the third quarter of 2007 and which is nearing completion.
The new expansion plan will be made over an 18-month period and will include the construction of a six-story 300,000 square foot building, expansions of its existing waste water treatment facility and power substation, and the purchase of high-tech PCB production equipment.
The additional capacity will be used to address the increasing demand from Viasystems' customers in the automotive, data communications, telecommunications and high-end computing equipment end-markets.
Approximately $12 million of the $40-$45 million investment will be spent in 2008. This amount is included in the total capital spend for 2008 of approximately $80 million disclosed in Viasystems' 10-K filing.
"This expansion of our capacity and manufacturing capabilities in Zhongshan is in response to the increasing demands of our customers for high-tech, high-quality, low-cost products and services," said David M. Sindelar, Chief Executive Officer.
"As a result of these capital investments, we will increase our Zhongshan production capacity by approximately 60%. In addition to expanding capacity, we will continue to enhance our position as a technology leader in China.
Viasystems remains committed to upgrading its China PCB operations. The investments in Zhongshan alone will total approximately $55-$60 million over the two-year period from September 2007 through September 2009."
This press release contains forward-looking statements as defined by the federal securities laws, and these statements are based upon Viasystems' current expectations and assumptions, which are inherently subject to various risks and uncertainties that could cause actual results to differ from those anticipated, projected, or implied.
Certain factors that could cause actual results to differ include fluctuations in operating results and customer orders, a competitive environment, reliance on large customers, risks associated with international operations, ability to protect patents and trade secrets, environmental laws and regulations, relationship with unionized employees, risks associated with acquisitions, substantial indebtedness, control by large stockholders and other factors described in Viasystems' filings with the Securities and Exchange Commission.
Viasystems, Inc. is a world-wide provider of complex multi-layer PCBs and electro-mechanical solutions.
The company's 14,000 employees serve more than 125 customers in the automotive, telecommunications, computer and data communications and industrial and instrumentation/medical consumer markets.
Viasystems, Inc.Kelly E. Wetzler, 314-746-2217
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