Varitron Group acquires Altronics Manufacturing

SAINT-HUBERT, QC - Varitron Group Inc. has acquired Altronics Manufacturing, Inc. Altronics, based in southern New Hampshire, serves New England and the rest of the United States. It has the technical expertise and operational flexibility to handle a variety of printed circuit board (PCB) assemblies and value-added services. Altronics' robust capabilities allow it to service commercial, military, industrial and medical customers.

This major transaction will provide Varitron with an essential presence for meeting U.S. content requirement for its customers, locally and abroad. Varitron is thereby strengthening its leadership position as a provider of electronic equipment manufacturing services not only in Canada but also for its southern neighbours.

"Varitron and Altronics provide similar services but also have complementary offerings intended for different markets," notes Michel Farley, President of Varitron Group. "By pooling our expertise, we will be able to serve more customers and to provide added value in terms of volume with the aim of consolidating the U.S. market and developing new niches."

The entire current senior Altronics management will stay on, and new jobs will be created, due to the higher volumes of business that are anticipated. Mr. Farley, Varitron Group President, will also serve as Varitron–Altronics Manufacturing's President. Jeff Altschuler, founder of Altronics, becomes Executive Vice-President of the New Hampshire division. Martial Vincent remains Chief Executive Officer of Varitron in Québec.

"Our two companies have much in common, particularly in terms of corporate culture, market vision and work philosophy," says Mr. Altschuler. "Altronics was at a crossroads, and this acquisition enables us to grow our business more rapidly and develop new markets. This is why I am pleased to be taking up this new challenge as part of the Varitron team, which is the ideal partner for us."

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