HISTORY
Viasystems Group, Inc. was formed in 1996 by Hicks, Muse,
Tate & Furst Incorporated under the name Circo Craft
Holding Company to create a preferred global manufacturing
provider to leading original equipment manufacturers through
acquisitions of PCB fabricators and backpanel assemblers.
From 1997 through 2001, we expanded rapidly through the
acquisitions of several businesses throughout Europe and
North America. During that time, we expanded our
business model to include full systems assemblies, wire
harnesses and cable assemblies. In addition, in late
1999, we purchased our first business based in China and
expanded our product offering in China by acquisition through
2001.
In early 2001, the telecommunications and networking industries
began a significant business downturn caused by the decline
in capital spending related to such industry. During
that time, we streamlined our business to focus on PCBs,
wire harnesses and electro-mechanical solutions, and we
significantly diversified our end markets and customer
base.
In 2004, we continued to further our strategy of expanding
our capacity and manufacturing capabilities in low cost
jurisdictions in our China PCB and Electro-Mechanical Assembly
operations. Additionally, we continued to diversify
our customer base and to streamline operations in our high
cost manufacturing areas.
In 2005, in furtherance of our low cost manufacturing
strategy, we closed all of our remaining western world
printed circuit board facilities located in Canada and
the Netherlands. Certain equipment from the closed
facilities was transferred to our China PCB operations
as we migrated our technology and production to low cost
areas in the world. In order to support our customers’ local
needs, we maintain engineering, quality and customer service
centers in the Netherlands, Canada, England, China, Mexico
and the United States.
In 2006, we de-leveraged our balance sheet through the
sale of our wire harness business. This de-leveraging
provided Viasystems with increased financial flexibility
to continue to invest in our industry leading PCB and electro-mechanical
assembly businesses.
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