Flextronics International Selected by Hewlett-Packard to Manufacture DeskJet Printers in Hungary
Flextronics will be responsible for building both printed circuit board assemblies (PCBA) and complete box assembly. Production will be at the company's Sarvar campus in Hungary. The first printers are expected to be completed in September of 1998 and then will be shipped throughout Europe by HP.
Both companies anticipate that printers produced for HP by Flextronics will incorporate components produced by suppliers operating from the Sarvar campus, including EcoPlast, the wholly-owned plastic injection molding subsidiary of Flextronics.
"This is the first large commercial activity that validates our worldwide campus strategy," said Michael Marks, chairman and CEO of Flextronics. "In addition, the award in Hungary demonstrates both the viability of Hungary for large-scale electronics product assembly, as well as the successful combination of Flextronics and Neutronics which merged in a pooling of interests in November 1997."
"We are looking forward to this strategic opportunity with Flextronics," said Michael Fawkes, manager of HP's European Hardcopy Manufacturing Operation. "The combination of PCBA and electro-mechanical fabrication and assembly capabilities offered by Flextronics will be of significant value to HP."
The dollar amount of the agreement was not disclosed.
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.
/CONTACT: Robert Dykes, Chief Financial Officer of Flextronics International Ltd., 408-576-7913/
CO: Flextronics International Ltd.; Hewlett-Packard Company ST: California; Hungary IN: CPR SU: PDT
CS-KF -- SFW043 -- 3115 06/10/98 16:15 EDT http://www.prnewswire.com
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|Date:||Jun 10, 1998|
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