SMTC Corporation Announces Over $31 Million in New Business from Avionics, Aerospace and Defense Customers
SMTC CORP (SMTX)
Last smtc corp earnings: 3/12 07:54 pm
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Source: GlobeNewswire
TORONTO, Jan. 08, 2020 (GLOBE NEWSWIRE) -- SMTC Corporation (Nasdaq:SMTX), a global electronics manufacturing solutions provider and winner of the Frost & Sullivan’s 2019 Best Practices Award for Customer Value Leadership in the Electronics Manufacturing Services Industry, today announced it has been awarded in excess of $31 million in new business from three leading global avionics, aerospace and defense technology companies. Initial production is expected to begin in mid-2020. “The awards from three different multibillion dollar a year sales companies validate our ability to expand our avionics, aerospace and defense business, which has been a priority end-market since our acquisition of MC Assembly in late 2018. This exciting growth market sector has expanded for us from $5.1 million or 2.3% of total sales in 2018 to $17 million or 6% of sales through the first nine months of 2019,” said Ed Smith, SMTC President and Chief Executive Officer. “Our avionics, aerospace and defense
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