Viasystems Group Inc. announced plans to make investments to expand capacity and advance its technology to meet the growing demand for its PCB products in the various markets it serves.
To meet the rapidly-expanding technology and demand requirements of its broad customer base, Viasystems plans to invest up to $100 million in its printed circuit board manufacturing facilities over the next two to three years. Viasystems will invest the $100 million in increments to insure that it continues to respond to dynamic market demands.
"If our markets continue to be as vibrant as they have been for the last nine months," said David M. Sindelar, Chief Executive Officer of Viasystems, "we're going to need to add capacity over the next two to three years to meet our customers' needs. We expect to fund our capacity expansion with the cash flow from operations and do not expect to increase our borrowing for these projects."
The initial investment of between $20 and $30 million has begun and will continue to be deployed over the next six months. The initial investment will (i) bolster Viasystems' technological capabilities for high density interconnect technology and thermal management solutions, (ii) expand Viasystems' overall production capacity and (iii) continue to enhance Viasystems' waste water treatment and water recycling capacity in response to the increased production volume and in the interest of continuing to protect the environment.
Viasystems Group, Inc. is a technology leader and a worldwide provider of complex, multi-layer PCBs and electromechanical solutions (E-M Solutions). Its PCBs serve as the "electronic backbone" of electronic equipment, and its E-M Solutions products and services integrate PCBs and other components into electronic equipment, including metal enclosures, cabinets, racks and sub-racks, backplanes, cable assemblies and bus bars. Viasystems' 15,000 employees around the world serve more than 800 customers in the automotive, industrial and instrumentation, telecom, computer/datacom and military/aerospace end markets. For additional information, visit www.viasystems.com