Celestica Acquires Invec Solutions
January 07 2010 - 5:00PM
PR Newswire (US)
Acquisition Strengthens Celestica's After-Market Services Offering
TORONTO, Jan. 7 /PRNewswire-FirstCall/ -- Celestica Inc. (NYSE,
TSX: CLS), a global leader in the delivery of end-to-end product
lifecycle solutions, today announced it has acquired Invec
Solutions, a leading provider of warranty management, repair, and
parts management services to companies in the information
technology and consumer electronics markets. The acquisition of
Scotland-based Invec will enhance Celestica's after-market services
offering through its proprietary reverse logistics software, which
allows customers to view their repair status and inventory
information from anywhere in the world using a web browser. This
system can be tailored to meet unique customer requirements and
Celestica will integrate Invec's reverse logistics software
throughout all of its after-market services locations. In addition,
this acquisition will expand Celestica's current global
after-market services network to include a UK-based depot and
repair screening centre for the European market. "Building on our
current offering, the acquisition of Invec significantly expands
our reverse logistics capabilities and will enable Celestica to
deliver enhanced global capabilities to customers requiring
after-sales support," said Jim Hunt, Vice President, After-Market
Services, Celestica. "The Invec team shares our commitment to
driving customer success and will make a strong contribution to our
after-market services business." "By combining our proprietary
technology with Celestica's global after-market services
capability, we can offer an expanded, global value proposition for
our combined customer base," said John Scott, Managing Director,
Invec. "This is a positive move for our company and we're very
excited about joining the Celestica team." Celestica's expertise in
after-market services includes returns management, repair, supply
chain management, refurbishment and recycling. Celestica also
focuses on reducing returns and warranty costs by continuously
improving next-generation products through unique processes,
failure analysis and data analytics. Financial terms of the
transaction were not disclosed. About Celestica ---------------
Celestica is dedicated to delivering end-to-end product lifecycle
solutions to drive our customers' success. Through our simplified
global operations network and information technology platform, we
are solid partners who deliver informed, flexible solutions that
enable our customers to succeed in the markets they serve.
Committed to providing a truly differentiated customer experience,
our agile and adaptive employees share a proud history of
demonstrated expertise and creativity that provides our customers
with the ability to overcome any challenge. For further information
on Celestica, visit its website at http://www.celestica.com/. For
more information on Invec Solutions, visit its website at
http://www.invec.co.uk/ Celestica Safe Harbour and Fair Disclosure
Statement This news release contains forward-looking statements
related to our future growth, trends in our industry, our financial
and or operational results, and our financial or operational
performance. Such forward-looking statements are predictive in
nature, and may be based on current expectations, forecasts or
assumptions involving risks and uncertainties that could cause
actual outcomes and results to differ materially from the
forward-looking statements themselves. Such forward-looking
statements may, without limitation, be preceded by, followed by, or
include words such as "believes," "expects," "anticipates,"
"estimates," "intends," "plans," or similar expressions, or may
employ such future or conditional verbs as "may", "will", "should,"
or "would," or may otherwise be indicated as forward-looking
statements by grammatical construction, phrasing or context. The
risks and uncertainties referred to above include, but are not
limited to: variability of operating results among periods;
inability to retain or grow our business due to execution problems
resulting from significant headcount reductions, plant closures and
product transfer associated with major restructuring activities;
the effects of price competition and other business and competitive
factors generally affecting the EMS industry; the challenges of
effectively managing our operations during uncertain economic
conditions; our dependence on a limited number of customers; our
dependence on industries affected by rapid technological change;
the challenge of responding to lower-than-expected customer demand;
our ability to successfully manage our international operations;
and delays in the delivery and/or general availability of various
components used in the manufacturing process. These and other risks
and uncertainties and factors are discussed in the Company's
various public filings at http://www.sedar.com/ and
http://www.sec.gov/, including our Form 20-F and subsequent reports
on Form 6-K filed with the Securities and Exchange Commission. We
disclaim any intention or obligation to update or revise any
forward-looking statements, whether as a result of new information,
future events or otherwise. DATASOURCE: Celestica Inc. CONTACT:
Media Contact: Pam White, Celestica Global Communications, Phone:
(416) 448-2200, Email: ; Investor Contact: Paul Carpino, Investor
Relations, Phone: (416) 448-2211, Email:
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