From 1988 through 2000, Saturn Electronics Corporation increased sales at an average annual rate of 25% year-over-year. Culminating in the largest year-over-year increase to date, we went from $16.4 million in 1999 to $22 million in 2000. This was the peak of the North American PCB Industry.
In 2001, the North American PCB fabrication industry experienced a massive fallout as 75% of sales volume moved to China. Consequently, 50% of domestic fabrication capacity ceased while as many as 12% of the U.S. based PCB workforce had been laid off. Another factor exacerbating the fall of the North American PCB market was the decline of the stock market and its impact on consumer confidence. Saturn endured this somber period due to its financial discipline. Still, SEC dropped $10 million in just two years finishing 2002 with $12 million in Sales.
With the North American market permanently changed a new strategy was required. As it happened, the mid-Aughts saw a marked increase in Lead Free callouts in response to the industry transition to environmentally beneficial manufacturing. SEC responded by providing valuable tools to the Industry focused on the most cost-effective ways to address these innovations.
Also during this same time period, SEC expanded product offering by developing advanced technologies in response to the increasing demand for higher density. We successfully navigated from a low-mix, high-volume, automotive supplier to a high-mix, medium-to-high-volume diversified supplier. Our manufacturing capabilities now ranged from quick-turn prototypes to scheduled volume production that served a wide-range of industries such as industrial controls, telecommunications, aerospace, and power supply.
The 2010s first big industry trend was LED Thermal Management. SEC again served as a trusted authority by providing cutting-edge solutions through webinars and industry presentations as well as publishing numerous articles. As a result, we went from $21.5m in 2009 to $42.3m in 2014.
Since then we have continued our technology capabilities to further grow our sales and account base. As a result, we now service a wide variety of customers with needs varying from five piece quick-turn prototypes to high-volume production. SEC's diverse customer base requires not only technological needs ranging from medium to fine line technology and smaller microvias but also delivery requirements ranging from one day to three weeks.
Domestic PCB Fabricator
Bare printed circuit board manufacturer (NAICS: 334412) Romulus, MI (since 1985) (734) 941-8100