Sanmina bids for Segerström & Svensson
Sanmina bids for Segerström & Svensson Sanmina strengthens its pan-European operations with bid for Swedish company Stockholm Sweden, 29 January 2001,- One of the world's leading electronics manufacturers, Sanmina Corporation, [NASDAQ: SANM] has put in an offer for all shares of Swedish listed company Segerström & Svensson [OM: SEGE]. The bid is worth 180 SEK per share for a total of 4.885 billion SEK (US $511 million). "With Segerström & Svensson's strong market position in the manufacture of enclosure systems, they will be an excellent addition to our global operations," stated Mike Landy, President of Sanmina Europe. "With this acquisition, we can now offer customers a fully integrated manufacturing process in Europe." Sanmina, which specialises in EMS (electronic manufacturing services), moved its European headquarters from Ireland to Kista, near Stockholm, earlier this month to capitalise on Sweden's highly qualified workforce in the telecoms industry. Kista is also the European hub for wireless technology with many key players in the industry working there. "This is just one step in our plan to expand our operations throughout Europe and we intend to continue with European acquisitions in the future," said Rune Glavare, Vice President Sanmina Europe. Last year Sanmina bought the Swedish EMS company Essex, adding 1,100 employees to the workforce. With an annual turnover 2 billion SEK, Sanmina is already one of the leading companies in the Nordic market. Sanmina works with advanced electronics manufacturing in telecommunications, medical and industrial equipment and high end-computing with several of the world's leading companies. Amongst Sanmina's current clients are Ericsson, Nokia, Siemens, Alcatel, Nortel, Cisco, Motorola and Sun Microsystems. -ENDS- For additional information: Mike Landy, President Sanmina Europe, +353 8 682 75258 Rune Glavare, Vice President Sanmina Europe, +46 (0) 8 477 96 96, +46 (0) 708 55 67 80 Jennifer Lucas, Senior Account Manager, Edelman Sweden +46 (0) 733 603 477 Note to editors: Sanmina is the world's largest manufacturer of printed circuit boards and one of the leading EMS suppliers. The company has 24,000 employees world- wide and an annual turnover of US $4.2 billion and is listed on the NASDAQ exchange. Sanmina is headquartered in San Jose, California and has manufacturing facilities in four continents. In Europe Sanmina has over 2,200 employees and a turnover of 6 billion SEK. ------------------------------------------------------------ This information was brought to you by BIT http://www.bit.se The following files are available for download: http://www.bit.se/bitonline/2001/01/29/20010129BIT00470/bit0001.doc http://www.bit.se/bitonline/2001/01/29/20010129BIT00470/bit0002.pdf