• E-mail
• Print
• Comment
• Font Size
• Digg
• del.icio.us
• Discuss article

Flextronics Completes Acquisition of CEAG's FRIWO Mobile Power Business Unit

Posted on: Wednesday, 7 May 2008, 12:00 CDT

SINGAPORE, May 7 /PRNewswire-FirstCall/ -- Flextronics today announced that it has completed its previously announced acquisition of the FRIWO Mobile Power (FMP) business unit of CEAG AG, a global market leader for power supplies and chargers for mobile telephones. FMP is now part of Flextronics' power supply division.

"The acquisition of the FRIWO Mobile Power Business unit substantially expands our power supply capability and we expect to be one of the top power supply companies within the next 18 months," said Bob Roohparvar, president of Vista Point Technologies. "This acquisition broadens our relationships with mobile phone OEMS, enhances our global reach and adds vertical integration capabilities such as magnetic (transformer) manufacturing. On behalf of Flextronics, I would like to welcome the FMP team to our organization."

The acquisition will add approximately 18,000 employees and 700,000 square feet of manufacturing capacity in China.

About Flextronics

Headquartered in Singapore (Singapore Reg. No. 199002645H), Flextronics is a leading Electronics Manufacturing Services (EMS) provider focused on delivering complete design, engineering and manufacturing services to automotive, computing, consumer digital, industrial, infrastructure, medical and mobile OEMs. With the acquisition of Solectron, pro forma fiscal year 2008 revenues from continuing operations are more than US$33.6 billion. Flextronics helps customers design, build, ship, and service electronics products through a network of facilities in 30 countries on four continents. This global presence provides design and engineering solutions that are combined with core electronics manufacturing and logistics services, and vertically integrated with components technologies, to optimize customer operations by lowering costs and reducing time to market. For more information, please visit http://www.flextronics.com/.

Safe Harbor for Forward-Looking Statements

This press release contains forward-looking statements. These forward- looking statements include statements related to plans, projections and estimates regarding the acquisition, including future financial and operating results. These forward-looking statements are based on current assumptions and expectations and involve risks and uncertainties that could cause actual results to differ materially from those anticipated by the forward-looking statements. These risks include that the revenues, cost savings, growth prospects and any other synergies expected from the acquisition may not be fully realized due to difficulties integrating the businesses, operations and product lines of FMP or may take longer to realize than expected; and the other risks affecting Flextronics as described under "Business -- Risk Factors" and "Management's Discussion and Analysis of Financial Condition and Results of Operations" in our quarterly and annual reports and other filings with the U.S. Securities and Exchange Commission. The forward-looking statements in this communication are based on current expectations and Flextronics assumes no obligation to update these forward-looking statements. Investors are cautioned not to place undue reliance on these forward-looking statements.

Flextronics

CONTACT: Thomas J. Smach, Chief Financial Officer, +1-408-576-7722,investor_relations@flextronics.com, or Renee Brotherton, Vice President,Corporate Communications, +1-408-576-7189, renee.brotherton@flextronics.com,both of Flextronics

Web site: http://www.flextronics.com/

Source: PRNewswire-FirstCall

More News in this Category