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Technology Stocks : Celestica
CLS 10.96-2.6%4:00 PM EST

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To: pass pass who wrote (410)5/7/2001 9:23:13 AM
From: JakeStraw  Read Replies (1) of 456
 
Celestica commences five year US$4 billion global strategic alliance with Avaya Inc.
biz.yahoo.com
TORONTO, May 7 /PRNewswire/ - Celestica Inc. (NYSE, TSE: CLS - news news), a world leader in electronics manufacturing services (EMS), today announced that it has commenced a global strategic alliance with Avaya Inc., a global leader in corporate networking solutions and services. As part of this arrangement, Celestica has acquired Avaya's manufacturing, repair and supply chain operations in Denver, Colo., and Little Rock, Ark., and will acquire certain other operating assets.

As previously announced, the deal includes a five-year global supply agreement worth approximately US$4 billion in total expected revenue. The aggregate purchase price is approximately US$200 million. Further terms were not disclosed.

This transaction positions Celestica as Avaya's primary outsourcing partner in the area of printed circuit board and system assembly and test, repair and supply chain management for a broad range of its telecommunications products. These products include enterprise communications servers, interactive voice response systems, voice messaging consoles, wireless systems, IP telephony products and call management systems.

About Avaya Inc.
Avaya, headquartered in Basking Ridge, N.J., is a leading global provider

of communications solutions and services that help businesses, government
agencies and other institutions -- including more than 75 percent of the
Fortune 500 -- excel in the customer economy. Avaya offers Customer
Relationship Management Solutions, Unified Communications Solutions, Hosted
Solutions, Multiservice Infrastructure, and Converged Voice and Data Networks -
- including the company's no-compromise Enterprise-Class IP Solutions (ECLIPS)
-- all supported by Avaya Services and Avaya Labs. Avaya is the worldwide
leader in unified messaging, messaging systems, call centers and structured
cabling systems. It is the U.S. leader in voice communications systems. For
more information about Avaya, visit its Web site at avaya.com
About Celestica
Celestica is a world leader in electronics manufacturing services (EMS)

for industry leading original equipment manufacturers (OEMs), primarily in the
computer and communications sectors. With facilities in North America, Europe,
Asia and Latin America, Celestica provides a broad range of services including
design, prototyping, assembly, testing, product assurance, supply chain
management, worldwide distribution and after-sales service.
For further information on Celestica, visit its website at celestica.com. The company's security filings can also be accessed at sedar.com and sec.gov

Statements contained in this press release which are not historical facts are forward-looking statements which involve risk and uncertainties which could cause actual results to differ materially from those expressed in the forward-looking statements. Among the key factors that could cause such differences are: the level of overall growth in the electronics manufacturing services (EMS) industry; variability of operating results among periods; dependence on the computer and communications industries; dependence on a limited number of customers; and the ability to manage expansion, consolidation and the integration of acquired businesses. These and other factors are discussed in the Company's various public filings at sedar.com and sec.gov

As of this date, this press release contains any material information associated with this event.

SOURCE: Celestica Inc.
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