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| 2004.08.16. |
elektronikai ipar/Flextronics |
forrás: Flextronics |
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SAN JOSE, Calif. and NORTHFIELD, Minn., Aug 16, 2004 Multek, a wholly-owned subsidiary of Flextronics ( FLEX ) , and Sheldahl, a leading provider of flexible interconnect products and electronic materials, have entered into an agreement whereby Multek will acquire Sheldahl in a stock-for stock merger. |
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Sheldahl manufactures advanced laminates, high-performance tapes, flexible printed circuits and printed circuit materials for the worldwide automotive and data communication (computers and telecommunications) markets. Sheldahl has an extensive intellectual property portfolio that includes its patented Novaclad(R) process used for the manufacturing of advanced adhesiveless laminates for fine geometry circuitry. The Company employs approximately 450 people and has over 300,000 square feet of manufacturing space in Northfield, Minnesota, the Philippines, and Mexico.
By combining Multek's rigid printed circuit board capabilities with Sheldahl's flexible circuit capabilities, a much wider and complete product portfolio can be offered to customers of both companies, including Flextronics.
"We look forward to joining the talented Multek team and extending its key products and technologies to Sheldahl customers," said Benoit Pouliquen, President and CEO of Sheldahl. He added, "This acquisition will strengthen our position as an industry leader in flexible interconnect and materials technologies and provide access to Multek's key resources and geographies, such as China."
"We are thrilled to add flexible circuit boards to our overall product portfolio," said Werner Widmann, President of Multek. "Our customers require products and solutions that are increasingly more complex with dense features, and at a very competitive price structure. With the acquisition of Sheldahl, we are better positioned to fulfill this need as there are many synergies between the two companies. Today's announcement will also enhance our ability to provide a complete interconnect offering that enables us to develop new products and to serve new and existing markets, such as automotive, cell phones, antennas, RFID tags, smart cards, personal communication devices, printers and many others," Widmann added.
This acquisition is expected to increase Flextronics' annual revenues by approximately $80 million. Excluding synergies and amortization, it is expected to increase Flextronics' annual earnings per diluted share by at least $0.01, including the incremental shares issued for the merger.
The acquisition is expected to close at the end of August and is subject to customary conditions and regulatory approvals.
About Multek
Multek, a wholly-owned subsidiary of Flextronics is a leading, value-added manufacturer of PCB technologies offering a broad spectrum of PCB engineering and manufacturing expertise. Built upon a foundation of rapid response, attention to detail and high technology solutions for PCB fabrication electronics design and manufacturing, Multek enables customers to take products to market quickly through advanced technology production and a full range of high performance materials. Multek offers solutions from a global network of locations in The Americas, Europe, and Asia. To view additional company information, please visit www.multek.com.
About Sheldahl
Sheldahl, founded in 1955, initially developed products to serve the military and aerospace markets. Those products were based on flexible laminate technology -- the combining of dissimilar materials into a new product, superior in capabilities to its component parts. The Company is now a leading producer of high-density substrates, high-quality flexible printed circuitry, and thin, flexible proprietary laminates, primarily for sale to the automotive electronics and datacom (computers and telecommunications) markets. To view additional company information, please visit www.sheldahl.com
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