NEW YORK, July 29, 2015 /PRNewswire/ --
ACI Association has initiated research coverage on Sanmina Corporation (NASDAQ: SANM). Select highlights from the internally released reports are being made available to the general public (included below), with access to the entirety of the research available to new members.
Today, membership is open to readers on a complementary basis at the following URL: http://www.aciassociation.com/?c=SANM
Highlights from our SANM Report include:
- Strategic cooperation agreement with Thales Nederland - On May 27, 2015, Sanmina Corporation reported about its non-exclusive strategic cooperation agreement with Thales Nederland (Thales) - a subsidiary of Thales Group. Sanmina informed that the Memorandum of Understanding (MoU) signed between the duos is associated with the development and manufacturing of sub-systems for advanced radar equipment. Thales is a major provider of safety and mission critical systems to the defence, aerospace and transportation industries while Sanmina is a leading integrated manufacturing solutions provider serving the fastest-growing segments of the global Electronics Manufacturing Services (EMS) market.
- Joint aim behind the partnership - The aforesaid collaboration aims to jointly develop, engineer and produce components and sub-systems for Thales' radar equipment, which will be for exported worldwide, and in particular support candidate radar systems from Thales to the National Ship Procurement Strategy (NSPS) Canadian Surface Combatant (CSC) Project. Moreover, the relationship between the two companies is expected to extend further for the development of future technologies for radar components and sub-systems. The Company stated that Thales and Sanmina fully appreciate and support the need for a strong Canadian based value proposition for the CSC program and other Canadian defence projects. According to the Company, the MOU is the framework to implement and deliver on these commitments in Canada.
- Management's comments - Commenting on the development, Sanmina's Vice President of Engineering for the Optical and Microelectronic Division, said, "We are very pleased to expand our long standing relationship with Thales for development and production of their latest radar solutions, and especially in support of the CSC program. This MOU provides a solid framework to expand our RF/Microwave and Optical engineering and manufacturing expertise, focusing on next generation radar systems, with 'Made in Canada' technologies. Sanmina is further investing in a new, state of the art facility in Ottawa, to support high technology design and manufacturing requirements for our customers." Vice President Surface Radar at Thales, Geert van der Molen added, "This MOU is a logical next step towards implementing a stronger strategic cooperation with Sanmina. We are very excited about the opportunities that lay ahead of us and are convinced that a combined Thales - Sanmina team can and will deliver significant benefit to both Canadian and global customers for these radar systems."
To find out how this influences our rating on Sanmina Corporation, read the full report in its entirety here: http://www.aciassociation.com/?c=SANM
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