Jan 11, 2002 Plexus Corp. (Neenah, WI), an electronics manufacturing services (EMS) provider, today completed its previously announced acquisition of EMS provider MCMS, Inc. (Nampa, ID). The purchase price of approximately $45 million, subject to certain adjustments, was funded through Plexus' current available cash.
With the assets purchased from MCMS, Plexus plans to continue manufacturing operations in Penang, Malaysia; Xiamen, China; and Nampa, ID. The former MCMS San Jose, CA, operation will be combined into Plexus' San Jose operation. The former MCMS Raleigh, NC, operation will be closed when Plexus completes the transfer of production to its other sites over the next several months.
"The acquisition of MCMS gives us a strong presence in Asia, which has been one of our long-range strategic objectives," said Dean Foate, Plexus' chief operating officer. "In addition, we have gained several new tier-one customers that will add revenue in 2002 and we expect will increase capacity utilization at some current Plexus sites."
