Raleigh, NC, December 30, 2019 --(PR.com
)-- Sigma Electric, the leading global manufacturer of precision engineered metal components, announced the acquisition of Tooling Dynamics, the leading US manufacturer of high volume, precision metal stamping and Swiss screw machining, in a move that will significantly expand Sigma’s capabilities and benefit its customers. Tooling Dynamics’ renowned expertise working with very thin gauge metals under extremely tight tolerances allows it to tackle the toughest jobs in the electronic and telecommunications connector world.
Tooling Dynamics’ capabilities are sought-after by blue-chip technology customers for the most challenging, complex, and critical metal components involving precision, thin gauge (.001”) and tight tolerance (.0001”) requirements and where quality, reliability and consistency are paramount. Led by industry veterans with decades of experience, Tooling Dynamics’ unique capabilities underpin a solutions-driven platform that solves the common challenges associated with ever increasing design and production complexity in the precision component market: tolerances, materials, shapes, sizes, functions, and performance. Customers rely on Tooling Dynamics’ specialized technical and engineering expertise to provide turn-key solutions that enable critical electrical system function, communication, power transfer and other connectivity requirements. Customers of Sigma Electric and Tooling Dynamics will enjoy significant opportunities as they manage their needs for mission critical components across complex global supply chains and look to work with world class suppliers, with comprehensive product offerings across metal types and process capabilities.
Viren Joshi, Chief Executive Officer and President, Sigma Electric, says, “Tooling Dynamics’ strength as a valued supplier for their connectivity and electrification-focused customers is a highly complementary fit with Sigma Electric, and we warmly welcome the Tooling Dynamics team. This acquisition is a transformational moment for Sigma Electric, representing our continued efforts to bring a broad offering of technology-driven solutions to help our customers effectively manage electrical systems, power transfer applications, and connectivity requirements more reliably, efficiently, safely and sustainably. The customers and the end markets that both our organizations serve are driven by an unstoppable need for continuous product innovation and the proliferation of incorporating communication and other technology into nearly every product/application, regardless of end-market. This results in the ever-increasing need for complex, precision, smaller, lighter and high-quality electrical components which Sigma is uniquely placed to meet. This acquisition combines two market leaders in the precision engineered metal components space and will allow us to bring significant innovation, quality and value to the customers of both Tooling Dynamics and Sigma Electric.”
Bob Updike, President & CEO, Tooling Dynamics, says, “We are proud of Tooling Dynamics’ long history of being a valued engineered-solutions provider for high volume, high speed, precision, highly-complex and tight-tolerance stamped components. We look forward to our joining the Sigma family of services and solutions and our next phase of growth as a part of Sigma Electric’s global offering.”
For more information about Sigma Electric or the transaction, contact:
CEO and President
Sigma Electric Manufacturing Corporation