MARCONI COMPLETES FIRST PHASE OF MANUFACTURING AGREEMENT WITH JABIL CIRCUIT
Communications outsourcing focuses supply chain management
London - June 15, 2001 - Marconi (NASDAQ and London: MONI), a global provider of innovative communications solutions, announced today the completion of the first phase of its agreement with Jabil Circuit (NYSE: JBL) to outsource certain of its communications manufacturing capacity.
Under the terms of the agreement, originally announced in January 2001, Jabil will acquire manufacturing operations in the US, UK, Italy and Germany, and this first phase achieves the transfer of the UK and Italian operations. The second phase is currently scheduled for completion by the end of 2001, and the total consideration to be paid, subject to certain adjustments, is approximately $250m.
"This move allows Marconi to focus on developing new products and fulfilling orders as quickly as possible." said Mike Parton, CEO Marconi Networks. "This will allow us to become a stronger, faster competitor in a highly competitive international market, as our manufacturing needs will be met by world-class specialists with the scale and flexibility to deliver the highest quality products with optimum time to market."
About Marconi plc
Marconi plc is a global company with over 50,000 employees. Marconi has research and development facilities in 19 countries, manufacturing operations in 16 countries, and serves customers in over 100 countries. It delivers innovative communications solutions which transform the economics of doing business, for Networks, Wireless and Enterprise customers. Marconi plc is listed on the London Stock Exchange and Nasdaq under the symbol MONI. Additional information about Marconi can be found at www.marconi.com.
This press release contains forward-looking statements with respect to products, partners, customers, future growth and other matters. Please refer to the Form 20-F report and Form 6-K reports filed by Marconi plc with the United States Securities and Exchange Commission for a discussion of risks that could cause actual results to differ materially from such statements.
Copyright c 2001 Marconi plc. All rights reserved. All brands or product names are trademarks of their respective holders.
About Jabil Circuit
Jabil Circuit, Inc. is an electronic manufacturing services provider for international electronics companies in the communications, personal computer, peripheral, consumer and automotive markets. Jabil offers circuit design, board design from schematic, prototype assembly, volume board assembly, system assembly, repair and warranty services from facilities in North America, Europe, Asia and Latin America. Additional information on Jabil can be found at www.jabil.com
Marconi Contact
Name: Mel Foster
Title: VP Media Relations
Phone: +44 207 306 1729
Email: mel.foster@marconi.com
Copyright © 2001 Marconi Corporation plc. All rights reserved.
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