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Celestica gets Powerwave manufacturing site

Posted: 15 Feb 2006 ?? ?Print Version ?Bookmark and Share

Keywords:manufacturing? outsourcing? Powerwave Technologies? Celestica? power amplifiers?

Powerwave Technologies Inc., a supplier of wireless infrastructure solutions, and Celestica Inc., a provider of electronics manufacturing services (EMS), announced that they have entered into an agreement whereby Celestica will acquire Powerwave's Philippines manufacturing operations.

Under the terms of the agreement, the two companies will enter into a multi-year supply agreement that will see Celestica become Powerwave's preferred outsourcing partner. Celestica will pay Powerwave approximately $19 million in cash to acquire the manufacturing operation, including buildings and all inventory and equipment at the site. Additionally, the facility's entire workforceapproximately 600 workerswill become part of Celestica.

The site, located in Cabuyao, Laguna, was acquired by Powerwave as part of its acquisition of certain assets and liabilities of REMEC's wireless systems business in September 2005. The facility, which primarily produces power amplifiers for use in wireless infrastructure networks, will continue to manufacture products for Powerwave.

The transaction is subject to certain closing adjustments and conditions and is expected to close next month (March 2006).

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