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"The acquisitions add high-end precision machining and additional robotic technologies to our existing portfolio and give us a stronger presence in the semiconductor and defense industries."
GEORGETOWN, MA, November 15, 2022 /24-7PressRelease/ -- Momentum Manufacturing Group (MMG), one of the top ten largest metal manufacturers in North America, announced its entry into the semiconductor market with the acquisition of two leading companies that support semiconductor manufacturing.
Little Enterprises in Ipswich, MA, and Evans Industries in Topsfield, MA, have joined MMG, adding 86,000 square feet of manufacturing capacity and nearly 160 skilled team members to the New England-based enterprise. Both companies provide precision metal machining and manufacture components that support wafer fabrication equipment. The acquisitions will enhance MMG's existing manufacturing operation, which includes ten facilities across New England, and strengthen its focus on the semiconductor market.
"The acquisitions add high-end precision machining and additional robotic technologies to our existing portfolio and give us a stronger presence in the semiconductor and defense industries," said Jim Moroney, CEO of Momentum Manufacturing Group. "We are excited to welcome the seasoned staff from Little Enterprises and Evans Industries to our team. Their knowledge, capabilities, and operating approach will seamlessly transition into MMG."
Over the last five years, MMG has invested more than $250 million to expand and strengthen its capabilities, including adding aluminum extrusion manufacturing, custom cabling, and greater use of automation and robotic technologies. Significant investments are planned for 2023 to support current and future demand as the semiconductor industry reshores in response to the CHIPS and Science Act, signed into law on August 9, 2022.
"New England is home to several semiconductor manufacturers, a wide array of technology businesses who rely on semiconductors, and some of the world's leading research institutions who will all benefit from funding made possible by the CHIPS Act," shared Moroney. "We want to ensure our company is a strong strategic supplier to our customers in the semiconductor market."
The CHIPS and Science Act will dole out $280 billion to improve domestic semiconductor manufacturing and scientific R&D and commercialization, which will have a sizable impact on New England's innovation economy. According to the Semiconductor Industry Association, semiconductors and machinery used to make semiconductors account for $2.7 billion worth of Massachusetts' exports — making it the third most valuable export from the Commonwealth.
About Momentum Manufacturing Group
Momentum Manufacturing Group is a leading U.S. strategic manufacturing partner to OEMs and product manufacturers across various industries, including robotics, electronics, fitness, medical device, defense, transportation, food service, and semiconductors. The company provides metal fabrication, precision machining, engineered aluminum extrusions, custom cabling, powder coating, and assembly services and maintains an extensive manufacturing infrastructure across several New England states. For more information, visit mmgmfg.com.
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