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To: Johnny Canuck who wrote (40971)	4/7/2004 12:09:59 AM
From: Johnny Canuck	Read Replies (1) \| Respond to of 70821

Analyst expects Celestica to cut 500 to 1,000 more jobs, close up to 6 sites 12:08 AM EDT Apr 07 TORONTO (CP) - A Canaccord analyst says that electronics manufacturer Celestica Inc. will likely close three to six more factories and cut up to 1,000 more jobs worldwide in another wave of consolidation sparked by a recent acquisition. Those cuts by the Toronto-based company would be in addition to 700 jobs being eliminated when its Montreal plant closes and 200 being cut in a Wisconsin plant closure announced Monday, analyst Jeff Rath said Tuesday. "We think that 500 to 1,000 (more) employees could be eliminated," he said in an interview. Rath said he looked into areas where Celestica and Manufacturing Services Ltd., which was acquired in March, have facilities that are near each other. There are up to three North American sites, up to two in Europe and possibly one in Asia that are likely candidates for closure, judging from Celestica's past consolidations, Rath said. The Montreal and Wisconsin closures are actually part of Celestica a restructuring plan outlined broadly by the company in January without saying where the axe would fall. Celestica told analysts in January it would take up to an additional $15 million US in restructuring charges this year, on top of what had been announced in 2003, and "they're simply outlining now which facilities are being rationalized," Rath said. However, Rath expects Celestica will announce a further $200 million to $400 million US in restructuring costs - including non-cash intangible charges and up to $40 million US in cash expenses - at its next conference call with analysts. Celestica stock (TSX:CLS) traded at $22.90 Cdn, down two cents at midday, on the Toronto Stock Exchange. © The Canadian Press, 2004