DGAP-News: Plexus to Develop Manufacturing Facility in Oradea, Romania
29.10.2010
Plexus Corp.
29.10.2010 13:00
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NEENAH, Wis., Oct. 29, 2010 (GLOBE NEWSWIRE) -- Plexus Corp. (Nasdaq:PLXS),
announced today that it has signed an agreement with the Municipality of Oradea
for the development of a new manufacturing facility in the city's newly
established industrial park. The new building will be located on approximately
22 acres of land in the Eurobusiness Industrial Park in Oradea. Plexus plans to
develop a state of the art manufacturing facility of between 160,000 to 215,000
sq feet with an anticipated investment of $25 to $30 million. Construction of
the facility is expected to begin in 2011.
Steve Frisch, Regional President - EMEA, commented, 'We believe that our
investment in Oradea has provided our multinational customers with an optimal
lower total-cost European solution, particularly for products with European
end-markets. Our customers continue to show increased demand for services in
this region since we commenced operations in February 2009 with a leased
facility in Oradea, Romania. Coupled with our design services capabilities in
Livingston, Scotland and our Kelso, Scotland manufacturing facility, this
investment in Oradea furthers our ability to deliver mid-to-low volume, higher
complexity Product Realization Value Stream Solutions to our customers in the
European region.'
Mr. Frisch continued, 'Our investment in this new manufacturing facility is an
important milestone in the evolution of our European regional growth strategy.
We are committed to the continued development of our presence in this region
and believe it will enable us to deliver on our longer-term growth goals. To
support our growing customer base, and in anticipation of our larger facility
in the region, we continue to recruit and hire staff, at all levels and for all
functions, into our current facility in Oradea, Romania. We invite interested
individuals to consider joining our talented and dynamic team where development
and extensive training is provided to all employees. We anticipate that
staffing levels may grow to 500 when the new facility is fully operational.'
About Plexus Corp. - The Product Realization Company
Plexus (www.plexus.com) delivers optimized Product Realization solutions
through a unique Product Realization Value Stream service model. This customer
focused service model seamlessly integrates innovative product design,
customized supply chain solutions, uniquely configured 'focused factory'
manufacturing, global end-market fulfillment and after-market services to
deliver comprehensive end-to-end solutions for customers in the North American,
European and Asia-Pacific regions.
Plexus is the industry leader in servicing mid-to-low volume, higher complexity
customer programs characterized by unique flexibility, technology, quality and
regulatory requirements. Award-winning customer service is provided to over
100 branded product companies in the Wireline/Networking, Wireless
Infrastructure, Medical, Industrial/Commercial and Defense/Security/Aerospace
market sectors.
The Plexus Corp. logo is available at
http://www.globenewswire.com/newsroom/prs/?pkgid=7065
Safe Harbor and Fair Disclosure Statement
The statements contained in this release which are guidance or which are not
historical facts (such as statements in the future tense and statements
including 'believe,' 'expect,' 'intend,' 'plan,' 'anticipate,' 'goal,' 'target'
and similar terms and concepts), including all discussions of periods which are
not yet completed, are forward-looking statements that involve risks and
uncertainties. These risks and uncertainties include, but are not limited to:
the risk of customer delays, changes, cancellations or forecast inaccuracies in
both ongoing and new programs; the poor visibility of future orders,
particularly in view of current economic conditions; the economic performance
of the industries, sectors and customers we serve; the effects of the volume of
revenue from certain sectors or programs on our margins in particular periods;
our ability to secure new customers, maintain our current customer base and
deliver product on a timely basis; the risk that our revenue and/or profits
associated with customers who are acquired by third parties will be negatively
affected; the particular risks relative to new customers, including our
arrangements with The Coca-Cola Company, which risks include customer and other
delays, start-up costs, potential inability to execute, the establishment of
appropriate terms of agreements, and the lack of a track record of order volume
and timing; the risks of concentration of work for certain customers; our
ability to manage successfully a complex business model characterized by high
customer and product mix, low volumes and demanding quality, regulatory, and
other requirements; the risk that new program wins and/or customer demand may
not result in the expected revenue or profitability; the fact that customer
orders may not lead to long-term relationships; the effects of the current
constrained supply environment, which has led and may continue to lead to
periods of shortages and delays in obtaining components based on the lack of
capacity at some of our suppliers to meet increased demand, or which may cause
customers to increase forecasts and orders to secure raw material supply or
result in our inability to secure raw materials required to complete product
assemblies; raw materials and component cost fluctuations particularly due to
sudden increases in customer demand; the risks associated with excess and
obsolete inventory, including the risk that inventory purchased on behalf of
our customers may not be consumed or otherwise paid for by customer resulting
in an inventory write-off; the weakness of the global economy and the
continuing instability of the global financial markets and banking system,
including the potential inability of our customers or suppliers to access
credit facilities; the effect of changes in the pricing and margins of
products; the effect of start-up costs of new programs and facilities,
including our recent and planned expansions, such as our new replacement
facility in Oradea, Romania, and our plans to further expand in Penang,
Malaysia and other locations; the risk of unanticipated costs, unpaid duties
and penalties related to an ongoing audit of our import compliance by U.S.
Customs and Border Protection; possible unexpected costs and operating
disruption in transitioning programs; the potential effect of world or local
events or other events outside our control (such as drug cartel-related
violence in Mexico, changes in oil prices, terrorism and war in the Middle
East); the impact of increased competition; and other risks detailed in the
Company's Securities and Exchange Commission filings (particularly in Part I,
Item 1A of our annual report on Form 10-K for the fiscal year ended October 3,
2009).
CONTACT: Plexus Corp.
Ginger Jones, Vice President, Chief Financial Officer
920-751-5487
ginger.jones@plexus.com
News Source: NASDAQ OMX
29.10.2010 Dissemination of a Corporate News, transmitted by DGAP -
a company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.
DGAP's Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Media archive at www.dgap-medientreff.de and www.dgap.de
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Language: English
Company: Plexus Corp.
United States
Phone:
Fax:
E-mail:
Internet:
ISIN: US7291321005
WKN:
End of Announcement DGAP News-Service
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Plexus Corp.
29.10.2010 13:00
=--------------------------------------------------------------------------
NEENAH, Wis., Oct. 29, 2010 (GLOBE NEWSWIRE) -- Plexus Corp. (Nasdaq:PLXS),
announced today that it has signed an agreement with the Municipality of Oradea
for the development of a new manufacturing facility in the city's newly
established industrial park. The new building will be located on approximately
22 acres of land in the Eurobusiness Industrial Park in Oradea. Plexus plans to
develop a state of the art manufacturing facility of between 160,000 to 215,000
sq feet with an anticipated investment of $25 to $30 million. Construction of
the facility is expected to begin in 2011.
Steve Frisch, Regional President - EMEA, commented, 'We believe that our
investment in Oradea has provided our multinational customers with an optimal
lower total-cost European solution, particularly for products with European
end-markets. Our customers continue to show increased demand for services in
this region since we commenced operations in February 2009 with a leased
facility in Oradea, Romania. Coupled with our design services capabilities in
Livingston, Scotland and our Kelso, Scotland manufacturing facility, this
investment in Oradea furthers our ability to deliver mid-to-low volume, higher
complexity Product Realization Value Stream Solutions to our customers in the
European region.'
Mr. Frisch continued, 'Our investment in this new manufacturing facility is an
important milestone in the evolution of our European regional growth strategy.
We are committed to the continued development of our presence in this region
and believe it will enable us to deliver on our longer-term growth goals. To
support our growing customer base, and in anticipation of our larger facility
in the region, we continue to recruit and hire staff, at all levels and for all
functions, into our current facility in Oradea, Romania. We invite interested
individuals to consider joining our talented and dynamic team where development
and extensive training is provided to all employees. We anticipate that
staffing levels may grow to 500 when the new facility is fully operational.'
About Plexus Corp. - The Product Realization Company
Plexus (www.plexus.com) delivers optimized Product Realization solutions
through a unique Product Realization Value Stream service model. This customer
focused service model seamlessly integrates innovative product design,
customized supply chain solutions, uniquely configured 'focused factory'
manufacturing, global end-market fulfillment and after-market services to
deliver comprehensive end-to-end solutions for customers in the North American,
European and Asia-Pacific regions.
Plexus is the industry leader in servicing mid-to-low volume, higher complexity
customer programs characterized by unique flexibility, technology, quality and
regulatory requirements. Award-winning customer service is provided to over
100 branded product companies in the Wireline/Networking, Wireless
Infrastructure, Medical, Industrial/Commercial and Defense/Security/Aerospace
market sectors.
The Plexus Corp. logo is available at
http://www.globenewswire.com/newsroom/prs/?pkgid=7065
Safe Harbor and Fair Disclosure Statement
The statements contained in this release which are guidance or which are not
historical facts (such as statements in the future tense and statements
including 'believe,' 'expect,' 'intend,' 'plan,' 'anticipate,' 'goal,' 'target'
and similar terms and concepts), including all discussions of periods which are
not yet completed, are forward-looking statements that involve risks and
uncertainties. These risks and uncertainties include, but are not limited to:
the risk of customer delays, changes, cancellations or forecast inaccuracies in
both ongoing and new programs; the poor visibility of future orders,
particularly in view of current economic conditions; the economic performance
of the industries, sectors and customers we serve; the effects of the volume of
revenue from certain sectors or programs on our margins in particular periods;
our ability to secure new customers, maintain our current customer base and
deliver product on a timely basis; the risk that our revenue and/or profits
associated with customers who are acquired by third parties will be negatively
affected; the particular risks relative to new customers, including our
arrangements with The Coca-Cola Company, which risks include customer and other
delays, start-up costs, potential inability to execute, the establishment of
appropriate terms of agreements, and the lack of a track record of order volume
and timing; the risks of concentration of work for certain customers; our
ability to manage successfully a complex business model characterized by high
customer and product mix, low volumes and demanding quality, regulatory, and
other requirements; the risk that new program wins and/or customer demand may
not result in the expected revenue or profitability; the fact that customer
orders may not lead to long-term relationships; the effects of the current
constrained supply environment, which has led and may continue to lead to
periods of shortages and delays in obtaining components based on the lack of
capacity at some of our suppliers to meet increased demand, or which may cause
customers to increase forecasts and orders to secure raw material supply or
result in our inability to secure raw materials required to complete product
assemblies; raw materials and component cost fluctuations particularly due to
sudden increases in customer demand; the risks associated with excess and
obsolete inventory, including the risk that inventory purchased on behalf of
our customers may not be consumed or otherwise paid for by customer resulting
in an inventory write-off; the weakness of the global economy and the
continuing instability of the global financial markets and banking system,
including the potential inability of our customers or suppliers to access
credit facilities; the effect of changes in the pricing and margins of
products; the effect of start-up costs of new programs and facilities,
including our recent and planned expansions, such as our new replacement
facility in Oradea, Romania, and our plans to further expand in Penang,
Malaysia and other locations; the risk of unanticipated costs, unpaid duties
and penalties related to an ongoing audit of our import compliance by U.S.
Customs and Border Protection; possible unexpected costs and operating
disruption in transitioning programs; the potential effect of world or local
events or other events outside our control (such as drug cartel-related
violence in Mexico, changes in oil prices, terrorism and war in the Middle
East); the impact of increased competition; and other risks detailed in the
Company's Securities and Exchange Commission filings (particularly in Part I,
Item 1A of our annual report on Form 10-K for the fiscal year ended October 3,
2009).
CONTACT: Plexus Corp.
Ginger Jones, Vice President, Chief Financial Officer
920-751-5487
ginger.jones@plexus.com
News Source: NASDAQ OMX
29.10.2010 Dissemination of a Corporate News, transmitted by DGAP -
a company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.
DGAP's Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Media archive at www.dgap-medientreff.de and www.dgap.de
=--------------------------------------------------------------------------
Language: English
Company: Plexus Corp.
United States
Phone:
Fax:
E-mail:
Internet:
ISIN: US7291321005
WKN:
End of Announcement DGAP News-Service
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