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Press Release
Interplex Industries and SAT Create Joint Venture
College Point, NY – October 28, 2008. Interplex Industries, a leading global provider of precision components and assemblies, and SAT, a leading Italian manufacturer of stamped power lead frames, announced today they have formed a joint venture. The joint venture, called Interplex SAT (HZ) Co. Ltd., will be based in Hangzhou, China and serve the rapidly growing Asian power lead frame electronics market.
“We are very excited to create this joint venture with Interplex,” said Mario Paoluzi, CEO of SAT. “Interplex’s extensive manufacturing history and expertise in China combined with SAT’s expertise in stamping power lead frames will create a world-class supplier for the Asian market.”
Jack Seidler, Interplex’s Chairman and CEO added, “For over fifty years, Interplex has continued to add new manufacturing solutions for our customers. By partnering with SAT, we will be working with the best power lead frame manufacturer in the world. Our combined strengths will provide customers a world class power lead frame solution in Asia.”
The joint venture will utilize technology developed by SAT in Italy with production performed in Interplex’s fully integrated stamp-plate-mold facility in Hangzhou, China. The companies anticipate the joint venture will be fully operational in January 2009.
SAT S.p.A. was founded in 1983 on the slopes of Mount Etna in Italy. It initially started in the business of fine blanking and coining for the Italian Mint. In 1987, the company moved into the business of stamping lead frames for the worldwide electronics market. In this field, SAT has acquired a leading position in terms of market share and technology. Since 2001, SAT has also operated in Morocco through its subsidiary, Auge SAT Morocco ASM. Originally founded as a production site supporting ST Microelectronics in Casablanca, ASM currently possesses some of the highest skilled mechanical manufacturing capabilities in Morocco. Today, ASM is considered a fundamental strategic supplier for the developing industrial automotive industry in Tangier.
Founded in 1958, Interplex Industries provides design and development services, precision metal stamping, die casting, precision machining, plating and finishing, insert and injection molding, metal etching, assembly and automation services around the world and is headquartered in College Point, NY. Interplex currently provides its services to the consumer, communications, electronics, medical and automotive markets. The company has facilities in the United States, Mexico, China, Singapore, India, Malaysia, Korea, Scotland, France, Germany and Hungary.
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