The ratings on Sanmina Corp. reflect the risks of the company's rapid and acquisitive growth strategy in the highly competitive electronic manufacturing services (EMS) industry, partially offset by consistent operating performance and moderate financial profile. Standard&Poor's will meet with management to assess the integration plans, acquisition strategy, and financial policy, prior to resolving the CreditWatch. The review will also consider the benefits of being the second-largest company and the leading printed circuit board (PCB) fabrication provider in the EMS industry for the combined entity resulting from the merging of its operations with SCI Systems Corp., as well as benefits associated with greater scale and enhanced end-market and customer diversification. San Jose, Calif.-based Sanmina serves primarily the telecommunications and
