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Non-controlling Interest Holdings
12 Months Ended
Dec. 30, 2013
Non-controlling Interest Holdings
(4) Non-controlling Interest Holdings

On June 17, 2013, the Company completed the sale of its 70.2% controlling equity interest in Dongguan Shengyi Electronics Ltd. (SYE) to its non-controlling partner, Shengyi Technology Co. Ltd. (Sytech), for 702,000 Chinese RMB or $114,495. The Company recognized a gain on the sale of SYE of $17,917. Consideration net of cash sold was $67,147. In connection with the SYE transaction, the Company was also required to settle an intercompany balance owed to SYE in the amount of $40,670, which the Company paid in cash during the quarter ended July 1, 2013.

Additionally, the Company acquired Sytech’s 20.0% non-controlling equity interest in Dongguan Meadville Circuits Ltd. (DMC) for 180,000 Chinese RMB or $29,358. The Company recorded a decrease to additional paid-in capital for the difference between the purchase price and the carrying value of the non-controlling interest for $71.

Both SYE and DMC plants manufacture conventional PCBs and are located in Dongguan, China.