JASPER, Ind., Feb. 4, 2015 (GLOBE NEWSWIRE) -- Kimball Electronics, Inc. (Nasdaq:KE) entered into an agreement with Genetec Technology Berhad (Genetec), a world leader in industrial automation, to support the production of multiple newly-awarded programs for a long-standing Kimball Electronics automotive customer.
"We're very excited to have the opportunity to work with Genetec to develop this new production line which will include some of the most advanced technologies for process and quality control," said Steve Korn, Vice President, North American Operations, Kimball Electronics. "We are committed to working closely with Genetec and our customer to develop a solution that will enable us to deliver the highest level of quality at a competitive cost."
Genetec possesses the engineering and technical expertise in automating manufacturing processes on high-end technology industries such as the automotive market. The equipment will be installed this spring. Pre-production validation units will be produced shortly thereafter. Series production is expected to begin mid-2016. The new programs are expected to be fully ramped in 2018 and run in series production through 2023.
"This is a very significant win for us. Having the opportunity to develop and deploy next generation assembly technology supporting one of our strategic customers is a great investment in our future. It builds on our heritage and will play a key role in Kimball Electronics continuing to expand our capabilities and grow our revenue," said Chris Thyen, Vice President, Business Development, Kimball Electronics.
About Kimball Electronics:
Kimball Electronics is a global contract electronic manufacturing services ("EMS") company that specializes in durable electronics for the medical, automotive, industrial and public safety markets. Kimball Electronics is well recognized by customers and industry trade publications for its excellent quality, reliability and innovative service. From its manufacturing operations in the United States, Mexico, Thailand, Poland, and China, Kimball Electronics provides engineering, manufacturing, and supply chain services which utilize common production and support capabilities to a variety of industries globally. Kimball Electronics is headquartered in Jasper, Indiana. Kimball Electronics, Inc., trades under the symbol "KE" on The NASDAQ Stock Market.
For more information about Kimball Electronics, visit the Company's web site on the Internet at www.kimballelectronics.com
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About Genetec:
Genetec was incorporated in 1997 and began operation in 1998 providing assembly automation and engineering services to various industries and have grown ever since. For more information visit www.genetec.net