The Power Shift in U.S. Manufacturing Ownership

by Nolan Johnson

The U.S. manufacturing landscape is driven by reshoring initiatives, supply chain realignments, and a surge of foreign interest. What does that mean for U.S.-based PCB and EMS companies? In this interview, mergers and acquisitions expert Tom Kastner breaks down the forces reshaping the industry—why foreign investors are eager to enter the U.S. market, why many are evaluating greenfield facilities over acquisitions,
and why the high-mix, low-volume focus of most domestic shops doesn’t always align with foreign buyers’ goals.

Tom explains how these trends are redefining competition and creating both opportunities and risks for U.S. companies. Whether you’re a shop owner, investor, or simply watching the reshoring movement, you’ll get a clear-eyed look at the future of U.S. electronics manufacturing and its increasingly global ownership.

Read the interview in the August 2025 issue of SMT007 Magazine