Celestica, IBM Reach New $500M PCBA PactNews from E-InSite
Contract manufacturer Celestica Inc., Toronto, Canada, today agreed to significantlyexpand its existing relationship with former parent IBM Corp., specifically Big Blue’sEnterprise Systems Group and Microelectronics division. Agreements valued around $500million provide for the sale and transfer of operations and assets in Rochester, Minn.,and Vimercate and Santa Palomba, Italy. At the same time, strategic supply agreements withannualized revenues of approximately $1.5 billion were entered into between the pair.
The 120,000-square-foot Rochester operation provides printed circuit board (PCB)assembly and test services. The combined Italian operations provide PCB assembly andsystem assembly services and span about 1 million square feet. As part of thistransaction, approximately 1,800 employees from IBM’s Enterprise Systems Group andMicroelectronics Division will join Celestica, which was part of IBM until being spun offin 1996. For the full story click here
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