Palomar Technologies Achieves Management Buy-out
Carlsbad, Calif. – July 29, 2008 – Palomar Technologies, provider of precision automation equipment and contract assembly services for microelectronics, announces that Palomar management has bought out the original investor group that spun the company out of Hughes Aircraft in 1995. Local management, already with Palomar for many years, now owns the company.
“This is a very positive step forward for Palomar. We are financially self-sufficient with an awesome team of employees and the latest technologies in precision interconnect for microelectronic assembly. All of our current operations, products, and services will continue unchanged, so there will be no effect on our customers worldwide. Going forward, having local ownership will enable us to act quickly to take advantage of opportunities in our space,” said Bruce Hueners, Palomar Technologies president and CEO.
About Palomar Technologies
Palomar Technologies (formerly part of Hughes Aircraft Company) is one of the world’s principal suppliers of automated high-precision wire bonders and component placement systems along with process development and contract assembly services to increase yield and lower costs for manufacturers.
Talk with Palomar’s experts about your needs. The ultra-high accuracy of the Model 6500 (down to 1.5 micron 3 sigma), the extra large work area of the Model 3500, or the high speed of the Model 8000 wire bonder/ball bumper may be just the capability your company is looking for. For more information on Palomar Technologies and Palomar Microelectronics, visit palomartechnologies.com, phone 760-931-3600 or send an e-mail to email@example.com.
Contacts: Palomar Technologies, Inc. Bradley Benton 2728 Loker Avenue West Carlsbad, CA 92010 Phone: (760) 931-3600 Fax: (760) 931-3694 firstname.lastname@example.org Palomar Technologies Pte Ltd Wai Seng Chew Phone: (65) 6779 2766 Fax: (65) 6779 7939 email@example.com Palomar Technologies GmbH Josef Schmidl Phone: 49-9131-48009-30 Fax: 49-9131-48009-55