Sanmina | October 04, 2022
Sanmina Corporation (Sanmina) (NASDAQ: SANM), a leading integrated manufacturing solutions company and Reliance Strategic Business Ventures Limited (RSBVL), a wholly-owned subsidiary of Reliance Industries Limited (RIL), India's largest private sector company, today announced they have completed the previously announced joint venture transaction.
This partnership will leverage Sanmina's 40 years of advanced manufacturing experience and Reliance's expertise and leadership in the Indian business ecosystem. The day-to-day business will continue to be managed by Sanmina's management team in Chennai, which will be seamless from an employee and customer perspective.
The joint venture will create a world-class electronic manufacturing hub in India, in line with the Hon'ble Prime Minister's "Make in India" vision. The joint venture will prioritize high technology infrastructure hardware, for growth markets, and across industries such as communications networking (5G, cloud infrastructure, hyperscale datacenters), medical and healthcare systems, industrial and cleantech, and defense and aerospace. In addition to supporting Sanmina's current customer base, the joint venture will create a state-of-the-art 'Manufacturing Technology Center of Excellence' that will serve as an incubation center to support the product development and hardware start-up ecosystem in India, as well as promote research and innovation of leading-edge technologies.
All the manufacturing will take place at Sanmina's 100-acre campus in Chennai, with the ability for site expansion to support future growth opportunities as well as to potentially expand to new manufacturing sites in India over time based on business needs.
Sanmina Corporation is a leading integrated manufacturing solutions provider serving the fastest growing segments of the global Electronics Manufacturing Services (EMS) market. Recognized as a technology leader, Sanmina provides end-to-end manufacturing solutions, delivering superior quality and support to Original Equipment Manufacturers (OEMs) primarily in the communications networks, cloud solutions, industrial, defense, medical and automotive markets. Sanmina has facilities strategically located in key regions throughout the world.
About Reliance Strategic Business Ventures Limited (RSBVL):
RSBVL is a wholly-owned subsidiary of Reliance Industries Limited. The principal activities of RSBVL are trading of goods and holding strategic interests in businesses and providing business support services. RSBVL had a revenue of INR 1,478.1 crore ($194.9 million), net profit of INR 179.8 crore ($23.6 million) for the year ended March 31, 2022 and had total investment of INR 10,857.7 crore ($1.4 billion) as of March 31, 2022.
About Reliance Industries Limited (RIL):
Reliance is India's largest private sector company, with a consolidated revenue of INR 792,756 crore ($104.6 billion), cash profit of INR 110,778 crore ($14.6 billion), and net profit of INR 67,845 crore ($9.0 billion) for the year ended March 31, 2022. Reliance's activities span hydrocarbon exploration and production, petroleum refining and marketing, petrochemicals, renewables (solar and hydrogen), retail and digital services.
CADREX | October 07, 2022
CORE Industrial Partners (“CORE”), a manufacturing, industrial technology, and industrial services-focused private equity firm, announced today the acquisition of E.P.M.P., Ltd. (“EPMP” or the “Company”), a precision sheet metal fabrication services provider, by CORE portfolio company Cadrex Manufacturing Solutions (“Cadrex”).
The Cadrex platform was formed in 2021 and includes ten business units with approximately 1.5 million square feet of manufacturing space and more than 2,000 employees across ten states as well as Mexico.
Founded in 1984, EPMP provides high-volume sheet metal punching, forming, welding and assembly capabilities utilizing a variety of different metals, including aluminum, copper and brass, as well as carbon, galvanized and stainless steel. The Company serves a nationwide customer base in the renewable energy, HVAC, food & beverage, and industrials end markets, among others, through an equipment fleet that includes press brakes, turret punches, fiber lasers, combination laser & punch machines and automated fabrication cells. Headquartered outside San Antonio in Seguin, Texas, EPMP operates an ISO 9001-certified facility with over 50,000 square feet of manufacturing space.
“EPMP’s significant historical investments in automation-driving material handling systems and robotics augment Cadrex’s high-volume sheet metal fabrication capabilities and make EPMP a highly strategic fit with the platform.”
-Matthew Puglisi, Partner at CORE.
Clint Plant, President of EPMP, said, For almost 40 years, EPMP has been committed to manufacturing and service excellence, demonstrating that commitment throughout all aspects of our organization. We recognize and appreciate this same customer-centric orientation at Cadrex and we’re looking forward to collaborating with Cadrex and CORE to continue our strong momentum.
ABOUT CORE INDUSTRIAL PARTNERS:
CORE Industrial Partners is a private equity firm with $700 million of capital commitments investing in North American lower middle-market manufacturing, industrial technology, and industrial services businesses. CORE’s team is comprised of highly experienced former CEOs and investment professionals with shared beliefs, deep experience, and a demonstrated track record of building market-leading businesses. Through our capital, insight, and operational expertise, CORE partners with management teams and strives to build best-in-class companies.
ABOUT CADREX MANUFACTURING SOLUTIONS:
Cadrex is a leading provider of complex production parts, assemblies, and weldments for a variety of end markets, including information communication technology, aerospace & defense, energy transmission & distribution, food production & agriculture, medical, material handling and electronic gaming & kiosk. With locations in nine states and Mexico, Cadrex offers comprehensive in-house manufacturing capabilities, including laser cutting, sheet metal fabrication, injection molding, electromechanical assembly, CNC punching, CNC machining, robotic welding, stamping, fastener insertion, and tool and die manufacturing, to effectively serve customers with lights-out manufacturing capabilities from low- through high-volume production.
EPMP is a precision sheet metal fabrication services provider for a variety of end markets, including renewable energy, HVAC, food & beverage, and industrials. The Company offers high-volume sheet metal punching, forming, welding and assembly capabilities from an ISO 9001-certified facility outside San Antonio in Seguin, Texas.
Fortify | October 06, 2022
Fortify, provider of advanced composite-photopolymer printers, announced today that IERUS Technologies received a FLUX CORE 3D printer and Flux Developer materials onboarding software for design and engineering of Defense Systems. The 3D printer will be used to realize complex RF (radio frequency) applications.
"Placing a printer at the IERUS Technologies headquarters provides a critical resource to support the growing need for additive manufacturing solutions in electromagnetics for Defense, Fortify's printers are uniquely positioned to print low-loss 3D printing materials, enabling performance advantages where traditional manufacturing falls short (due to machining, weight, and size)."
-Eric Versluys, Director of Defense Programs at Fortify.
IERUS Technologies, a provider of engineering and design solutions for Defense and commercial customers, such as sensors and strategic systems, is designing novel RF structures such as Graded Refractive Index (GRIN) lenses leveraging Fortify's FLUX CORE system. The Flux Core system enables companies like IERUS to take advantage of the design freedoms enabled by RadixTM, a 3D printable low-loss material developed by Rogers Corporation.
"The Fortify 3D printer line will enable IERUS Technologies to develop complex RF structures that push the limits of traditional RF architectures with novel electromagnetic phenomenologies."
-Jason Keen, CEO of IERUS Technologies
This announcement comes a few months after Fortify's strategic investment from In-Q-Tel and the development of a portfolio of electronic 3D printing materials. IERUS will leverage the FLUX Developer toolkit, an open platform for the development of viscous and filled resins, to optimize printing of RF devices.
Fortify will be showcasing 3D printed RF structures printed on the FLUX CORE 3D printer at Array 2022 October 11 - 14 in Waltham, MA.
Fortify is transforming the 3D printing industry with its patented DCM (Digital Composite Manufacturing) platform. DCM delivers new levels of additively manufactured part performance by introducing functional additives to photopolymers. By combining a deep understanding of material science with high performance mixing, magnetics, and polymer physics, Fortify is able to produce custom microstructures in high-resolution 3D printed parts. The company is currently focused on applications ranging from injection mold tooling to high performance end-use parts with unique mechanical and electromagnetic properties. Founded in 2016 and based in Boston, Fortify4 technology enables material properties and components unattainable using other additive or traditional manufacturing processes.