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SOLECTRON COMPLETES PURCHASE OF HP'SLAKE STEVENS PRINTED CIRCUIT ASSEMBLY ACTIVITY

 MILPITAS, Calif., Sept. 7 /PRNewswire/ -- Solectron Corp. (NYSE: SLR) and Hewlett-Packard Co. (NYSE: HWP) today announced that Solectron Washington Inc., a wholly-owned subsidiary of Solectron Corp., has completed the purchase of assets and licensing of process technology associated with the printed circuit assembly activity at HP's Lake Stevens Instrument Division (LSID) located near Lake Stevens, Wash. In addition, Solectron Washington will lease 49,000 square feet at the facility to establish a contract manufacturing operation to supply printed circuit board assemblies to Hewlett-Packard and other leading electronic original equipment manufacturers (OEMs).
 Dr. Ko Nishimura, president and chief executive officer of Solectron Corp., said, "The assets and process technology we are acquiring are targeted at very high mix, low volume production environments. More importantly, we have hired a skilled and experienced workforce from Hewlett-Packard to operate this facility. This acquisition and the people we are hiring will allow Solectron to continue meeting the growing needs of our diverse customer set. In addition, it will allow us to meet the delivery and manufacturing requirements of electronic OEMs in the instrumentation and electronic equipment markets more effectively."
 Solectron will immediately supply printed circuit board assemblies to Hewlett-Packard's Test and Measurement Organization. Production at this facility of products for other leading OEMs is anticipated to occur within the next 12 months.
 Les Nishimura, a 15-year veteran of Solectron, will be the president of Solectron Washington, reporting directly to Dr. Nishimura (no family relationship). Ken Winkleblack, a 21-year Hewlett-Packard employee, has accepted the position of site operations director reporting to Les Nishimura.
 The transaction does not involve Hewlett-Packard marketing, research and development, administrative or other manufacturing operations at the LSID site.
 Hewlett-Packard Co. is an international manufacturer of measurement and computation products and systems recognized for excellence in quality and support. The company's products and services are used in industry, business, engineering, science, medicine and education in approximately 110 countries. HP has 94,900 employees and had revenue of $16.4 billion in its 1992 fiscal year.
 Solectron Corp., founded in 1977, provides customized, integrated manufacturing services to original equipment manufacturers. The company currently has operations in Milpitas; Penang, Malaysia; Charlotte, N.C.; and Bordeaux, France. The company received the coveted Malcolm Baldrige National Quality Award in 1991 and has accumulated 52 other quality and service awards from customers such as Apple Computer, Applied Materials, Conner Peripherals, Exabyte, Hewlett-Packard, IBM and SUN Microsystems.
 -0- 9/7/93
 /CONTACT: Jeff Cox of Solectron, 408-956-6688; or Laurie Nichol, 415-857-5771 (Corporate Offices), or Lynn Nixon, 206-335-2506 (Lake Stevens Instrument Division), both of Hewlett-Packard/
 (SLR HWP)


CO: Solectron Corporation; Hewlett-Packard Company ST: California, Washington IN: CPR SU: TNM

TB-TM -- SJ002 -- 9193 09/07/93 09:02 EDT
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Publication:PR Newswire
Date:Sep 7, 1993
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