Dec. 10, 2012
Flextronics (FLEX) and Motorola Mobility LLC, owned by Google, announced today that the companies have signed a definitive agreement, under which Flextronics will acquire Motorolas manufacturing operations in Tianjin, China, and will also assume the management and operation of its Jaguariuna, Brazil, facility. Employees and assets at both locations will transfer to Flextronics after the transaction closes. The agreement also includes a manufacturing and services agreement for Android and other mobile devices. The companies expect to complete closing activities by the first half of 2013, subject to customary closing conditions including regulatory approvals. Financial terms of the agreement are not being disclosed.
We are very pleased to announce todays agreement and expand our long-standing collaborative and successful relationship with Motorola Mobility, said Mike McNamara, chief executive officer, Flextronics. We look forward to leveraging our extensive manufacturing expertise and supply chain solutions to provide Motorola Mobility with increased value.
The agreement with Flextronics is an important step forward for us in transforming our overall supply chain into a competitive advantage for Motorola Mobility. Flextronics has been our partner for many years, and their expertise and experience in manufacturing will enable us to focus on other areas of the supply chain where we can add the most value, said Mark Randall, senior vice president, supply-chain and operations for Motorola Mobility LLC.
A conference call hosted by Flextronicss management will be held tomorrow, December 11, at 5:00 a.m. (PT) / 8:00 a.m. (ET) to discuss todays announcement. The conference call will be broadcast via the Internet and may be accessed by logging on to the Companys website at www.flextronics.com. Additional information in the form of a slide presentation may also be found on the Companys site. A replay of the broadcast will remain available on the Companys website afterwards.
About Flextronics
Headquartered in Singapore (Singapore Reg. No. 199002645H), Flextronics is a leading Electronics Manufacturing Services (EMS) provider focused on delivering complete design, engineering and manufacturing services to aerospace and defense, automotive, computing, consumer, industrial, infrastructure, medical, energy and mobile OEMs. Flextronics helps customers design, build, ship, and service electronics products through a network of facilities in 30 countries on four continents. This global presence provides design and engineering solutions that are combined with core electronics manufacturing and logistics services, and vertically integrated with components technologies, to optimize customer operations by lowering costs and reducing time to market. For more information, please visit http://www.flextronics.com/.
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