Viasystems And Merix Complete Merger

Viasystems Group, Inc. (NASDAQ:VIAS) today completed a merger with Merix Corporation, forming an industry leader in printed circuit boards (PCBs) and electro-mechanical solutions. The companies had announced on October 6, 2009 their intention to merge.

The combined company will go forward under the name Viasystems Group, Inc. and will maintain its headquarters in St. Louis, Missouri. Viasystems is newly listed on the NASDAQ Global Market under the ticker VIAS and expects trading in its shares to begin tomorrow, February 17.

“Viasystems is a world-class leader in PCB fabrication and related electro-mechanical solutions,” said David M. Sindelar, Chief Executive Officer of Viasystems. “With the addition of Merix, we now have the capability to manufacture high layer count PCBs using leading-edge technology in both North America and Asia. In addition, the combined company now has the ability to respond better to the rapid prototyping and quick-turn requirements of our customers globally. This portfolio of capabilities enables us to expand our service offerings to customers of both Viasystems and Merix and provides an opportunity for growth with existing and new customers.”

Based on the results for the twelve months ended December 31, 2009 for Viasystems and November 28, 2009 for Merix, on a pro forma basis, the combined operation would have had approximately $745 million of revenue. The Company expects that annual cost synergies of approximately $20 million can be achieved through steps initiated within the next 60 days.

Viasystems has approximately 20 million shares of common stock. Shareholders of Merix Corporation (NASDAQ:MERX) received approximately 0.11 shares of Viasystems for each share of Merix, altogether approximately 2.5 million Viasystems shares or 12.5 percent of the equity. Holders of 98 percent of the Merix convertible debentures received, in the aggregate, $35 million cash and approximately 1.4 million Viasystems shares or 7.0 percent of the equity. The prior Viasystems common and preferred stockholders hold approximately 80.5 percent of the combined company as of the closing.