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30 July 2008

Palomar undergoes management buy-out from Hughes

The management of Palomar Technologies Inc of Carlsbad, CA, USA, which provides automated wire bonders and component placement systems as well as process development and contract assembly services for microelectronics manufacturing, has bought out the original investor group that spun the company out of Hughes Aircraft Company in 1995. Local management, already with Palomar for many years, now own the company.

“All of our current operations, products, and services will continue unchanged, so there will be no effect on our customers worldwide,” says president and CEO Bruce Hueners. “Going forward, having local ownership will enable us to act quickly to take advantage of opportunities in our space,” he reckons.

See related item:

Palomar triples cleanroom capacity for assembly & test services

Visit: www.palomartechnologies.com

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