Kimball Electronics Group, a subsidiary of Kimball International, Inc., (NASDAQ: KBALB) announced that it has acquired privately-held Genesis Electronics Manufacturing of Tampa, Florida. The acquisition supports Kimball’s growth and diversification strategy, bringing new customers in key target markets. Kimball Electronics Group (KEG) is a global contract electronic manufacturing services (EMS) company that specializes in durable electronics for the automotive, medical, industrial, and public safety industries.
Genesis sales for last year were approximately $16 million. Under the terms of the agreement, Kimball Electronics acquired the assets and certain liabilities of Genesis and will transition the operations and workforce out of the existing Genesis facility and into the current KEG-Tampa facility located less than one mile away.
“This opportunity to combine these manufacturing resources will better support the growing demand for specialty medical, high end industrial and public safety products,” stated Don Charron, President of Kimball Electronics.
The acquisition also enhances Kimball’s “package of value” through the addition of certain after-market refurbishing, repair, and reverse logistics capabilities. North American customers will benefit from the responsiveness of the Florida facility, while having the option to draw upon the extensive global footprint of Kimball Electronics’ production operations.
Consolidation of the two facilities is scheduled to be completed in approximately six months.
About Kimball Electronics:
Kimball Electronics Group is a global contract manufacturing services (EMS) company that specializes in durable electronics for the automotive, medical, industrial, and public safety markets. Kimball Electronics Group is well recognized by customers and industry trade publications for its excellent quality, reliability and innovative service. Kimball Electronics Group has manufacturing operations in the U.S., Mexico, Thailand, Poland, Wales, and China. Kimball Electronics Group is a business unit of Kimball International, a $1.4 billion publicly held company headquartered in Jasper, Indiana.
To learn more about Kimball Electronics Group, visit our website at: www.kegroup.com.
About Kimball International:
Recognized with a reputation for excellence, Kimball International is committed to a high performance culture that values personal and organizational commitment to quality, reliability, value, speed, and ethical behavior. Kimball employees know they are part of a corporate culture that builds success for Customers while enabling employees to share in the Company’s success through personal, professional and financial growth.
Kimball International, Inc. (NASDAQ: KBALB) provides a variety of products from its two business segments: the Electronic Manufacturing Services segment and the Furniture segment. The Electronic Manufacturing Services segment provides engineering and manufacturing services which utilize common production and support capabilities to a variety of industries globally. The Furniture segment provides furniture for the office and hospitality industries, sold under the Company’s family of brand names.
To learn more about Kimball International, Inc., visit the Company’s website on the Internet at: www.kimball.com.
“Kimball International… We Build Success!”
Contacts:
Martin Vaught, 812-482-1600
Director of
Public Relations
martin.vaught@kimball.com
