Flex up strong today, nice new business from GIC. Some companies don't need to buy old Nortel plants to get good new business.
Flextronics International Announces Global Strategic Partnership With General Instrument
Flextronics to Manufacture Complete Satellite TV Set-Top Terminals for General Instrument's
Satellite Broadcast Network Systems Business Unit
SAN JOSE, Calif., Aug. 16 /PRNewswire/ -- Flextronics International Ltd. (Nasdaq: FLEX - news), a leading global
full-service supplier of innovative design, engineering and electronics manufacturing solutions, today announced that it
was chosen by General Instrument Corporation (NYSE: GIC - news) as a global strategic manufacturing partner. In its
newly-expanded Guadalajara, Mexico Industrial Park, Flextronics will provide manufacturing services and production
for General Instrument's Satellite TV Set-Top Terminals for the Satellite Broadcast Network Systems business unit
based in San Diego. Flextronics will also provide General Instrument with support services from its San Jose Product
Introduction Center (PIC), including functional test and development, board layout and new product development.
``We are pleased that General Instrument has chosen Flextronics as a strategic partner to meet its global manufacturing
needs, and we look forward to providing them with a comprehensive set of world-class electronics manufacturing
services,' said Michael Marks, Chairman and CEO, Flextronics International. ``This strategic relationship offers General
Instrument enhanced operational flexibility through Flextronics' extensive network of integrated manufacturing and
engineering services in the world's major electronics manufacturing markets,' Marks continued.
``General Instrument's global strategic outsourcing relationship with Flextronics gives us a distinct competitive
advantage,' said Ed Rushing, Senior Director of Operations, General Instrument's Satellite Broadcast Network Systems
business unit. ``Flextronics' commitment to service, strategic locations in key global markets and extensive range of
manufacturing services allows General Instrument to respond to global market forces quickly and efficiently,' Rushing
said.
About General Instrument
General Instrument is a leading worldwide provider of integrated and interactive broadband access solutions, teaming
with its business partners to lead the convergence of the Internet, telecommunications and video entertainment industries.
About Flextronics
Flextronics International Ltd. is a global EMS (Electronic Manufacturing Services) provider of a full spectrum of
value-added services. Its OEM customers include leaders in fast-growth communications, computers, medical and
consumer markets where innovation, time-to-market, product miniaturization and cost reduction are paramount.
This news release contains forward-looking information within the meaning of Section 27A of the Securities Act of
1933 and Section 21E of the Securities Exchange Act of 1934, and is subject to the safe harbor created by those sections.
These forward-looking statements include statements related to future benefits of acquisitions, customer demands and
anticipated charges. These forward-looking statements involve a number of risks and uncertainties that could cause the
actual results to differ materially from those anticipated by these forward-looking statements. These risks, and other
risks, are described in Flextronics' and GI's periodic reports filed with the SEC including its most recent Annual Report
on Form 10-K and Quarterly Report on form 10-Q. Flextronics and GI assume no obligation to update the
forward-looking information contained in this press release.
SOURCE: Flextronics International Ltd. |
