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 MILPITAS, Calif. and LONDON, June 22 /PRNewswire/ -- Solectron Corporation (NYSE: SLR) and Philips Electronics UK Limited, a wholly- owned subsidiary of Philips Electronics N.V. (NYSE: PHG), today announced that they are in discussions for Solectron to buy the Philips Circuit Assembly business in Dunfermline, Scotland. The proposed acquisition continues Solectron's strategy to offer contract manufacturing services globally to major electronic original equipment manufacturers (OEMs).
 The completion of this transaction is subject to final contracts and appropriate governmental and regulatory approvals. The companies intend to complete the contracts later this year and will announce further details at that time.
 Established in 1982, the Philips Circuit Assembly business in Dunfermline provides contract manufacturing services. This 140,000 square-foot manufacturing plant employs 550 people and has a state-of- the-art surface mounted printed circuit assembly capability servicing a number of international electronics companies in Europe. The business is qualified to ISO 9002.
 Solectron Corporation entered the European marketplace in October, 1992 by acquiring IBM's Bordeaux, France operations. Continued global expansion is being driven by the growing need to meet customer manufacturing and delivery requirements on a worldwide basis. Facilities in Scotland and France will allow Solectron to provide a broader set of regionally-focused services in the growing European marketplace.
 Philips Electronics is one of the world's largest companies, with sales of Dfl. 58,527 billion in 1992 and, as per January 1, 1993, 261,100 employees. The activities of the Philips Group, organized in product divisions, are spread throughout the world. Products, systems and services are delivered in the fields of lighting, consumer electronics, small domestic appliances and personal care, music and film, communication systems, medical systems, industrial electronics, components and semiconductors. It shares are traded in leading stock exchanges, including the New York Exchange, and the stock exchanges in London and Amsterdam.
 Solectron Corporation, founded in 1977, provides customized, integrated manufacturing services to original equipments manufacturers. The company recently obtained ISO 9002 certification for its Milpitas, Calif. and Penang, Malaysia operations and plans to obtain certification for its Charlotte, N.C. and Bordeaux, France operations by the end of 1993. The company received the coveted Malcolm Baldrige National Quality Award in 1991 and has accumulated over 50 other quality and service awards from customers such as Apple Computer, Applied Materials, Conner Peripherals, Exabyte, Hewlett-Packard, IBM and SUN Microsystems.
 -0- 6/22/93
 /CONTACT: Gary Weiner, 408-956-6695, or Jeff Cox, 408-956-6688, or Charlie Dickinson, (Europe) 33-56-75-75-01, all of Solectron Corporation, or Alan Tull of Philips Electronics UK Limited, 44-071-436-4044, or Cor Vreven of Philips Electronics N.V., 31-40-75-7005/

CO: Solectron Corporation; Philips Electronics N.V. ST: California IN: CPR SU: TNM

TM -- NY007 -- 4410 06/22/93 09:05 EDT
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Publication:PR Newswire
Date:Jun 22, 1993

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