EX-99.1
Published on April 13, 2010
Exhibit 99.1
For Immediate Release
|
Contact: | |
Steve Richards | ||
Chief Financial Officer | ||
TTM Technologies, Inc. | ||
+1 714-241-0303 |
TTM Technologies, Inc. Completes Combination with Meadville Holdings Limiteds Printed Circuit
Board Business
Transaction Creates One of Worlds Largest Printed Circuit Board Manufacturers
SANTA ANA, CA April 9, 2010 TTM Technologies, Inc. (Nasdaq: TTMI), North Americas largest
printed circuit board (PCB) manufacturer, today announced the completion of its business
combination with Meadville Holdings Limiteds PCB business. The combination creates one of the
largest PCB manufacturers in the world with pro forma 2008 annual revenue of $1.35 billion.
We are excited about the combination as we build upon the success both companies have achieved
independently over the years, and we look forward to a bright future together, said Kent Alder,
President and CEO of TTM. With todays close, TTM and Meadville have created a stronger,
world-class PCB manufacturer with the scale, production capabilities, market breadth and expanded
customer service ability to lead in todays competitive global PCB business.
TTM will provide more information on the financial and operational impact of the combination when
it announces its first quarter 2010 results. TTM will conduct a conference call and webcast to
discuss its first quarter performance and the Meadville combination at 4:30 p.m. Eastern/1:30 p.m.
Pacific time on Thursday, May 6, 2010. A link to the live webcast presentation will be available
through the TTM website at www.ttmtech.com. For those wishing to join the question and answer
session after the call, please dial into the conference call at 1-877-941-8609 for U.S. or
1-480-629-9818 for international callers.
The call and the presentation will be available for replay until May 13, 2010, on the companys
website. You may access the telephone replay by dialing 1-303-590-3030 or 1-800-406-7325 and
entering confirmation code 4283045.
About TTM Technologies, Inc.
TTM Technologies, Inc. is North Americas largest PCB manufacturer, focusing on quick-turn and
technologically advanced PCBs and the backplane and sub-system assembly business. TTM stands for
time-to-market, representing how the companys time-critical, one-stop manufacturing services
enable customers to shorten the time required to develop new products and to bring them to market.
About Meadville Holdings Limited
Headquartered in Hong Kong and established in the 1980s, Meadville Holdings Limited is one of the
leading PCB manufacturers based in China with a focus on producing high-end PCB products. The
companys products include double-sided and multi-layer PCBs, HDI PCBs and
IC substrates. In addition to its mass production ability in a wide range of PCB products,
Meadville also provides customers with a one-stop shop service, which includes PCB layout design
and small volume quick-turn PCB production.
Safe Harbor Statement
This release contains forward-looking statements that relate to future events or performance. These
statements reflect the companys current expectations, and the company does not undertake to update
or revise these forward-looking statements, even if experience or future changes make it clear that
any projected results expressed or implied in this or other company statements will not be
realized. Furthermore, readers are cautioned that these statements involve risks and uncertainties,
many of which are beyond the companys control, which could cause actual results to differ
materially from the forward-looking statements. These risks and uncertainties include, but are not
limited to, the companys dependence upon the electronics industry, the impact of the current
economic crisis, the companys dependence upon a small number of customers, the unpredictability of
and potential fluctuation in future revenues and operating results, increased competition from
low-cost foreign manufacturers and other Risk Factors set forth in the companys most recent SEC
filings.