Sanmina Acquires Siemens EMS

Sanmina-SCI to acquire certain EMS assembly operations from Siemens; terms of the agreement were not disclosed

April 25, 2002

1 Min Read

SAN JOSE, Calif. and MUNICH -- Sanmina-SCI Corporation (Nasdaq: SANM), a leading supplier of integrated design and electronics manufacturing services (EMS) and Siemens Information and Communication Networks (IC Networks) (NYSE: SI) today announced that they have entered into a memorandum of understanding with Siemens AG regarding the acquisition of Siemens Information and Communication Networks (IC Networks) Group's final system assembly and test operations in Lake Mary, Florida as well as two other IC Networks Group manufacturing operations in Europe. Financial terms of the transaction and multi-year manufacturing supply agreement were not disclosed. The transaction is subject to completion of definitive agreements, approval from various regulatory bodies in the United States and Europe, as well as consultation with the appropriate worker councils for the European operations. The transaction is expected to close in Sanmina-SCI's fiscal fourth quarter. The Lake Mary manufacturing facility is a world-class full system assembly and test and module assembly operation for wireline communications switching products, which will serve as a Center of Excellence for Siemens IC Networks. Jure Sola, Chairman and Chief Executive Officer of Sanmina-SCI, said, "We believe this transaction, which strengthens our relationship with Siemens, reflects the success of our OEM partnership. In addition, the acquisition allows us to further diversify our product and customer end-markets." Sanmina-SCI Corp. Siemens Information and Communications Networks Inc.

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

You May Also Like