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ABLE ELECTRONICS AND INTEGRATED MANUFACTURING SOLUTIONS ANNOUNCE KEY TRANSACTIONAgreement positions Able for new growthHayward, Calif. — October 29, 2002 — Able Electronics, Inc. (Able), a leading electronics manufacturing services company, today announced that it has signed an agreement with Integrated Manufacturing Solutions (IMS), a privately owned, Silicon Valley based company which provides manufacturing support services to technology companies. Under terms of the agreement, effective November 1, 2002, Able will commence serving customers of IMS and will provide an expanded range of services (engineering support, board assembly and box build) beyond the scope of IMS's resources. The agreement was precipitated by the needs of IMS customers who were requesting additional levels of service. Members of the IMS Board of Directors stated that this agreement provides customers of IMS with a solution that fulfills their needs and is a win-win resolution for all parties involved. "Success in the EMS industry clearly depends on being able to provide a wide range of high quality services, rapid time to market solutions and improved economies of scale. These types of strategies will continue to allow us to exceed customers expectations and ensure strong long term relationships," said Peter Dennis, Able's President and COO. The addition of Keith Wheaton to Able's management team further demonstrates Able's commitment to customer service and growing partnerships with future customers. About Able Electronics Originally founded in 1988, Able Electronics Corporation is an ISO 9002-certified, privately-held electronic manufacturing services (EMS) company serving OEMs in the telecommunications, test and measurement, medical instruments, computer peripherals, industrial controls and genetic research industries. Able occupies a 135,000 sq. ft., state-of-the-art, corporate-owned facility in Hayward, CA, in Silicon Valley, midway between San Jose, Oakland and San Francisco. The company also operates manufacturing sites in Mexico and China. With an ongoing commitment to customer service, Able provides a complete range of EMS solutions from engineering development and prototyping to systems integration and test. Able offers medium-to-high volume, full turnkey manufacturing, test and logistical services. For more information, visit Able’s Web site at http://www.ableco.com. Media Contact: |
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