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Technology Stocks : Flextronics International (FLEX) -- Ignore unavailable to you. Want to Upgrade?

To: kolo55 who wrote (1092)	4/21/1999 4:19:00 PM
From: Sam	Read Replies (1) \| Respond to of 1422

Flex/Astron buys an HK PCB manufacturer. The stock certainly flew at the close. May it fly even higher on Friday and next week. Astron, a Flextronics International Subsidiary, Announces Acquisition Of Advanced Component Labs HK Ltd. (ACL) ACL Acquisition Provides Additional Manufacturing Capacity and Advanced PCB Technologies for Miniaturization and Advanced Packaging Substrate Technology For Small Handheld Devices SAN JOSE, Calif., April 21 /PRNewswire/ -- Astron, a Flextronics International Ltd. (Nasdaq: FLEX - news) subsidiary, and a leading designer and manufacturer of high quality computer and telecommunication interconnect products, today announced the acquisition of Advanced Component Labs HK Ltd. (ACL), a Hong Kong-based advanced technology printed circuit board manufacturer. The acquisition of ACL enhances Astron's advanced packaging substrate technology to meet growing market demands for small handheld telecommunications and personal computing devices. Astron plans to incorporate ACL's expertise in advanced PCB technologies to provide cutting edge PCB manufacturing and services to its customers, and to continue developing new technologies including flip chip BGA, thermal vias and less than 50 micron trace BGA products. Astron intends to consolidate operations from its two existing Hong Kong plants into the new facility over the next few months. At the completion of the consolidation process, Astron will occupy 60,000 square feet of manufacturing space and employ approximately 300 employees in the Tsuen Wan facility in Hong Kong. ''We believe that the acquisition of ACL and the consolidation with Astron's Asian operations will drive our overall PCB manufacturing capabilities to a higher level, meeting the growing outsourcing demands of our multinational customers,'' stated Ben Robinson, President of Astron Group Ltd. ''This acquisition will also provide us with specialized technical resources and enhanced capabilities for miniaturization and advanced packaging substrate technology.'' ''The acquisition presents an exciting opportunity for the combined company as a major global contract manufacturer with a global presence,'' stated Jerry Smith, General Manager ACL. 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' periodic reports filed with the SEC including its most recent Annual Report on Form 10-K and Quarterly Report on form 10-Q. Flextronics assumes no obligation to update the information contained in these documents. SOURCE: Flextronics International Ltd.