Sanmina/SCI Merger Approved

Have completed the merger of the two companies after receiving approval from their respective stockholders

December 7, 2001

1 Min Read

SAN JOSE, Calif., and HUNTSVILLE, Ala. -- Sanmina Corporation (Nasdaq: SANM) and SCI Systems, Inc. (NYSE: SCI), two leading electronics contract manufacturers, announced they have completed the merger of the two companies after receiving approval from their respective stockholders of matters related to the merger, including the change of Sanmina's corporate name to Sanmina-SCI Corporation. Under the terms of the merger, SCI stockholders received 1.36 shares of Sanmina common stock for each share of SCI common stock. Commencing Friday, December 7, 2001, SCI's common stock will no longer trade on the New York Stock Exchange. Sanmina-SCI common stock will trade on the Nasdaq National Market under the symbol "SANM." Jure Sola, Chairman and Chief Executive Officer of Sanmina-SCI, said, "We are very excited about the merger of our two companies and the significant market opportunity we have in the $130 billion global EMS market. We believe our new company, with its global, world-class manufacturing facilities in over 23 countries spanning five continents is well positioned to become one of the most respected and successful companies in the EMS industry. Our expertise in new product introduction, cost-effective manufacturing and design and fabrication of complex interconnect products provide us with a number of world-class solutions which, we believe, will drive the EMS industry to new levels of performance."Sanmina Corp.

Subscribe and receive the latest news from the industry.
Join 62,000+ members. Yes it's completely free.

You May Also Like