Sanmina Corp, the Brentwood, Tennessee company that bought some of Comptronix Corp’s contract manufacturing interests a couple of years ago, is now to acquire the entire Guntersville, Alabama company’s business for $20m to $22m in cash. Comptronix is the Guntersville, Alabama contract manufacturer that never recovered from its officers making vastly over-enthusiastic claims for its level of business in its quarterly reports three years ago. It finally filed for Chapter 11 bankruptcy in August. Consummation of the deal depends on completion of due diligence by Sanmina, and the approval of the Bankruptcy Court. Comptronix expects secured creditors to be paid in full but unsecured and trade creditors to get only about $0.10 on the dollar.
