Saturn Electronics Corporation was founded by Nagji Sutariya in September of 1985. From the beginning, SEC focused on quality. One of the most important principles was to learn from, but never repeat, mistakes. From this seemingly simple philosophy, Saturn grew 25% yearly over the next fifteen-years passing the $20 million threshold in 2000. Finally, it was Saturn's fiscal discipline that allowed us to survive the North American PCB market crash of 2001 / 2002.
We attribute our continuous growth to growing customer satisfaction, a growing referral base, and the overall increase in the use of electronics in manufacturing. Management never forgot the original focus on quality. As a result, Saturn achieved its ISO9002 certification in 1985. In 1998, Saturn became only the fifth PCB Fabricator in the United States to achieve QS9000 certification. Next, we turned our focus towards strict, customer-specific certifications. Between 1998 and 2000 we invested approximately $3 million towards quality and capacity improvements and were certified for high-reliability, safety, and under-hood applications.
In 2000, capital improvements doubled our capacity. This would result in a record year that saw SEC break the $20 million mark with a $22 million year--up $6 million year-over-year. Unfortunately, with the industry downturn of 2001, much of this added capacity went unused through 2002. However, our financial strength (debt-free with no leases) has allowed us to overcome the downturn by adding even more equipment and processes to expand our product offerings.