Printed Circuit Corporation

Printed Circuit Corporation

Company type	Private
Industry	Electronics manufacturing
Founded	1961
Founder	Peter Sarmanian
Defunct	2002
Fate	Acquired by Electropac
Headquarters	Woburn, Massachusetts , United States
Area served	Electronics, instrumentation, medical devices, telecommunications, automotive markets
Key people	Peter Sarmanian (Founder and CEO until 2001), Glen Kashgegian (President and COO from 2000)
Products	Printed circuit boards (4 to 10 layers multilayer boards)
Number of employees	240
Parent	Electropac (from 2002)

Printed Circuit Corporation (PCC), established in 1961 by Peter Sarmanian, operated as a contract manufacturer of printed circuit boards based in Woburn, Massachusetts. The company catered to sectors including electronics, instrumentation, medical devices, telecommunications, and automotive markets, with a focus on producing multilayer circuit boards ranging from 4 to 10 layers.

In 1995, PCC earned recognition for its environmental efforts through a study conducted by The Massachusetts Toxics Use Reduction Institute in collaboration with the University of Massachusetts Lowell. Later, in 2001, ABC-TV’s Business Now featured PCC, showcasing its innovative technologies and management strategies that sustained its competitive position in the global printed wiring board industry.

Peter Sarmanian, who served as founder and CEO until his passing in 2001, was a trailblazer in electro-chemical PCB manufacturing techniques, enhancing both board durability and component density. His significant impact on the industry is commemorated annually by the IPC organization.

Company history

During the formative years of the computer industry and while pursuing studies at Northeastern University after his service in the Korean War, Peter Sarmanian founded Printed Circuit Corporation. Early on, PCC secured contracts producing PCBs for pioneering minicomputer companies such as RCA Computer Systems, Digital Equipment Corporation, and Data General.

At a time when most companies fabricated their own circuit boards internally, PCC leveraged the emerging trend toward outsourcing driven by suppliers’ cost advantages and accelerated market delivery. Outsourcing of rigid PCB production grew from 40% in 1979 to 60% by 1989, increased further to 80% by 1995, and reached an estimated 98% by 2001. Industry experts valued global PCB production bookings at $30 billion in 2000, with approximately one-third originating from the United States.

Under Sarmanian’s guidance, PCC expanded to generate nearly $30 million in annual revenue by 2000. The company operated a fabrication facility spanning roughly 100,000 square feet near Boston’s Route 128 corridor and employed about 240 personnel working two full shifts along with additional prototype manufacturing.

After Sarmanian succumbed to cancer in July 2001, PCC entered reorganization proceedings and was subsequently acquired by Electropac, a Manchester-based PCB fabricator, in October 2002.

Printed Circuit Corporation's business approach

Historically, PCC focused on serving the mid-tier market segment by supplying circuit boards primarily to New England’s minicomputer manufacturers. While Sarmanian invested in state-of-the-art equipment, he generally aligned with prevailing industry trends. In the early 1980s, PCC expanded into the fast-growing low-end market segment. By 1995, approximately half of its revenue derived from low-end consumer electronics clients, with annual sales reaching $20 million. However, dependence on high-volume low-end products exposed the company to financial challenges following the collapse of video game cartridge demand for platforms such as Atari and Intellivision.

By the late 1980s, offshore producers had come to dominate simple, high-volume PCB manufacturing due to their lower labor expenses. By 1995, consumer electronics manufacturers had shifted nearly all production offshore to Asian suppliers, resulting in a steep profit decline of around 90% for PCC. To address this downturn, new management was appointed during 1996 and 1997 with a mandate to reverse these losses.

The incoming leadership withdrew from unprofitable low-end markets and redirected focus toward more technologically sophisticated mid-range segments. This strategic shift coincided with an accelerated PCB market growth rate increasing from 6% to 10% annually between 1995 and 2000. By the year 2000, PCC’s revenue rebounded to $30 million, supported by technological improvements including laser drilling processes, enhanced solder mask applications, and semi-automated electrical testing systems.

In 2000, Glen Kashgegian assumed the roles of president and COO. Subsequently, in June 2001, PCC expanded its operations through acquisition of CPC’s circuit board fabrication division located in Randolph, Massachusetts.

The Conclusion of PCC

Amid the technology downturn between 2001 and 2003, PCC faced significant challenges as clients gravitated toward more affordable Chinese alternatives, leading the company to initiate reorganization proceedings in September 2002. In October 2002, Electropac, a fabrication firm located in Manchester, NH, took ownership of PCC. With ongoing shrinkage and consolidation in the North American PCB industry, Electropac ultimately ceased its operations and transferred its assets to Mass Design, a competitor based in Nashua.

Environmental Issues

In 1990, the firm incurred a fine totaling $407,835 due to 60 reported breaches of state sewage regulations over a two-year span, including violations of stop orders. At that time, this was the third-largest penalty ever imposed by the Massachusetts Water Resources Authority.