Acquisition to strengthen Celestica's capabilities in the Diversified Markets
TORONTO, July 27, 2012 /PRNewswire/ - Celestica Inc. (NYSE, TSX: CLS), a global leader in the delivery of end-to-end product lifecycle solutions, today announced that it has agreed to acquire D&H Manufacturing Company, based in Fremont, California, a leading manufacturer of precision machined components and assemblies, primarily for the semiconductor capital equipment market.
The company's operations provide manufacturing and engineering services, coupled with dedicated capacity and equipment for prototype and quick-turn support to some of the world's leading semiconductor capital equipment OEMs. The company generates approximately $80 million in annual revenue, and currently employs approximately 350 people.
"The acquisition of D&H further strengthens Celestica's diversified markets offering, and will allow us to provide our customers with additional capability in large scale and high quality precision machining," said Craig Muhlhauser, President and Chief Executive Officer, Celestica. "The D&H team brings extensive engineering and technical depth to Celestica that will complement our capabilities in complex mechanical and systems integration services."This acquisition supports Celestica's strategy to grow and diversify its revenue base in the Industrial, Aerospace and Defense, Semiconductor Equipment, Green Technology and Healthcare end markets. The purchase price is expected to be approximately $70 million and will be financed from either Celestica's credit facility or from cash on hand. The transaction is subject to customary conditions and is expected to close in the third quarter of 2012. About Celestica Celestica is dedicated to delivering end-to-end product lifecycle solutions to drive our customers' success. Through our simplified global operations network and information technology platform, we are solid partners who deliver informed, flexible solutions that enable our customers to succeed in the markets they serve. Committed to providing a truly differentiated customer experience, our agile and adaptive employees share a proud history of demonstrated expertise and creativity that provides our customers with the ability to overcome any challenge.
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