Austin-based Cypress Industries acquires plant in Matamoros, Tamaulipas
Austin-based global contract manufacturer Cypress Industries announced it has acquired Concurrent Manufacturing Solutions, located in Matamoros, Tamaulipas, Mexico, adding 135 employees and 100,000 square foot facility to offer a greater range of manufacturing solutions to customers across the globe. The financial terms of the deal were not disclosed.
“Concurrent is a world-class sheet metal, circuit board and wire harness manufacturing facility,” said Cypress Industries CEO, Tom Lonsdale, in a statement. “By merging Concurrent with our other facilities in the United States and India, we have achieved capabilities unprecedented for a midsize contract manufacturer.”
“With manufacturing facilities in three countries, we can offer customers lower pricing, improved lead times and streamlined services,” added Lonsdale. “The addition of Concurrent Manufacturing Solutions to our company will allow us to continue our 25-30% year-over-year growth rates.”
Concurrent’s customer base includes fortune 500 companies, some of them with over 20 years of business relationships. The Matamoros plant has the flexibility to assemble and integrate Cables, PCBA, Electro-Mechanical assemblies as well as metal fabrication.
Its core competencies include enclosure fabrication, cable assembly, PCB assembly and complete box build. The company also offers production engineering and comprehensive EMS services from initial prototype production through end of life support.
Cypress Industries is a vertically-integrated contract manufacturer, whose capabilities include printed circuit board assemblies, sheet metal, electromechanical assemblies, custom cable assemblies, wire harnesses, machining, and plastic injection molding.