US-based maker of automatic dimming rear-view mirrors Donnelly Corp. said it has agreed to acquire the Longford, Ireland, manufacturing assets of IEC Electronics Corp. in order to meet growing demand …
US-based maker of automatic dimming rear-view mirrors Donnelly Corp. said it has agreed to acquire the Longford, Ireland, manufacturing assets of IEC Electronics Corp. in order to meet growing demand for its automotive electronic products. The terms of the cash deal were not disclosed. As part of the agreement, Donnelly will acquire equipment and materials used to manufacture electronic components, such as printed circuit boards, the Holland, Michigan-based automotive supplier said. Donnelly has also agreed to lease IEC Electronics“ manufacturing space in Longford, which will operate in Ireland as part of Donnelly Corp.“s affiliate, Donnelly Electronics. Production of electronic components is expected to begin as soon as late spring or early summer, Donnelly said. Employment at the facility could exceed 150 once it reaches full production. “By establishing our presence in Longford we will be better able to serve the growing demand for our electronics products from customers around the world,” Dwane Baumgardner, Donnelly chairman and chief executive officer, said in a statement.