France-based Lacroix acquires stake in Firstronic to supply customers in Mexico
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Lacroix Electronics, a France-based electronic manufacturing services (EMS) provider, announced it acquired a stake in Firstronic LLC, based in Michigan.
The alliance will provide support for customers of Lacroix in North America, in particular for automotive equipment vendors who have factories in the United States and Mexico and wish to collaborate with local partners specializing in the production of electronic assemblies.
The acquisition will provide the flexibility and responsiveness of a regional player with factories in Grand Rapids, Michigan and Juarez, Mexico, “while retaining the expertise and trust established with Lacroix,” said the French company in a statement.
For Firstronic, the partnership means an opportunity to offer its American customers access to the European market thanks to Lacroix Electronics plants in Europe, ensuring continuation in the quality of service and opening the potential use of its design office.
The group is creating a subsidiary, Lacroix North America Inc., and the first joint activities are scheduled for spring 2017. Financial terms of the agreement were not disclosed.
In 2014, Firstronic opened a 70,000 square-foot production facility in Juarez, Chihuahua, to supply EMS for companies in the automotive and medical devices industries. Tesla and Audi are among its customers.