Manufacturers' Services Ltd. plans to acquire the Lockheed Martin Commercial Electronics operation, based in Hudson, N.H. The contract manufacturer reports that the acquisition will raise its annual revenues to nearly $1 billion in 1997, making it the world's fourth-largest electronics-manufacturing-services company.
"We've built our company by identifying strategic operations and successfully integrating their strengths and capabilities into ours," said Kevin Melia, president and CEO of Manufacturers' Services, a Concord, Mass.-based company that focuses on the networking, computer, and telecommunications industries. "Lockheed Martin's state-of-the-art facility, advanced technology, and highly skilled teams will give us significant competitive advantage in this major market."
Lockheed Martin Commercial Electronics, an operating unit of Lockheed Martin's Electronics Sector, employs approximately 700 people at a 250,000-square-foot facility that specializes in complex electronic manufacturing, engineering, and test services. The sale is expected to be finalized in October.