Celestica to Advance High Growth, High-Margin Strategy with Acquisition of PCI Limited
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Wednesday, September 22, 2021
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TORONTO, Sept. 21, 2021 (GLOBE NEWSWIRE) -- Celestica Inc. (TSX: CLS) (NYSE: CLS), a leader in design, manufacturing and supply chain solutions for the world's most innovative companies, today announced that it has entered into a definitive agreement to acquire PCI Limited (“PCI”) for $306 million in cash from Platinum Equity.
Key Points:
- Singapore-based PCI is a fully integrated design, engineering and manufacturing solutions provider with five manufacturing and design facilities across Asia.
- Rob Mionis, President and CEO of Celestica, said, We are pleased to join forces with PCI, an engineering-led business that is aligned with our strategic objectives.
- This acquisition is intended to help us to further diversify our customer base and expand our ATS portfolio with high-growth programs.
- EL Teo, CEO of PCI, said, Celestica is an industry leader with complementary capabilities and a shared focus on engineering and innovation.