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Flextronics (FLEX) to Expand Medical Capabilities Through Acquisition of RIWISA


8/28/2013 10:06:15 AM

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SAN JOSE, Calif., and HAGGLINGEN, Switzerland, Aug. 28, 2013 /PRNewswire/ -- Today, Flextronics (NASDAQ: FLEX), a leading global supply chain solutions company, and RIWISA AG, a privately held and family-owned, leading provider of high volume, high precision, injection molding and automation solutions based in Switzerland, announced that they have entered into a definitive agreement whereby Flextronics will acquire RIWISA. Upon completion, Flextronics will acquire RIWISA's state-of-the-art manufacturing facilities and highly-experienced employees in medical, consumer packaging and industrial products, which will broaden its precision injection molding and high-speed automation offerings.

"The addition of RIWISA's precision plastics and automation capabilities to Flextronics Medical is a tremendous complement to the broad range of healthcare solutions we can offer our customers globally and underscores the strategic commitment we have made to expand our services in this market," said Mark Kemp, president of Flextronics Medical. "We are very excited about today's announcement and look forward to creating a European Center of Excellence for precision plastics in Switzerland and adding RIWISA's highly talented team to the Flextronics family."

"In the scope of the succession plans, we carefully reviewed several different scenarios. Primary importance was focused on the future of the Company and its employees, the changing customer requirements and increasing globalization of the market," said Gerold Richner, general manager of RIWISA. "By its sale to Flextronics, with its operations in more than 30 countries and global customer base, RIWISA is given access to the world market, enabling a solid foundation for successful future growth for the employees and the continuation of the Company's industry legacy of more than 67 years."

Peter Richner, president of the board of directors at RIWISA said, "By integrating RIWISA into Flextronics, we believe we will create the best outcome for a successful future of the Company and its employees in Switzerland. Thanks to the proven expertise of our three business units: Medical, Consumer Packaging and Industrial and Flextronics' global presence, we will be able to meet our changing customer needs and global requirements to further strengthen the Hagglingen site."

Completion of the transaction, which is subject to certain closing conditions, including regulatory approvals, is expected to take place by the end of October. Additional terms of the deal were not disclosed.

About Flextronics

Flextronics International Ltd. (Company Registration No. 199002645H) is a leading end-to-end supply chain solutions company that delivers design, engineering, manufacturing and logistics services to a range of industries and end-markets, including data networking, telecom, enterprise computing and storage, industrial, capital equipment, appliances, automation, medical, automotive, aerospace and defense, energy, mobile, computing and other electronic product categories. Flextronics is an industry leader with $24 billion in sales, generated from helping its customers design, build, ship, and service their products through an unparalleled network of facilities in more than 30 countries and across four continents. Flextronics' service offerings and vertically integrated component technologies optimize customer supply chains by lowering costs, increasing flexibility, and reducing time-to-market. For more information, visit www.flextronics.com or follow us on Twitter @flextronics.

About RIWISA

RIWISA is with its 300 employees particularly in the medical sector - one of Europe's leading suppliers of the plastics processing industry and has decades of experience and a broad knowledge in precisely customized plastic solutions in the three divisions of Industry, Consumer and Medical. RIWISA is an appreciated partner of many smaller as also global enterprises, which have highest demands on the quality of their suppliers. Further information can be found on: www.riwisa.ch

Flextronics Contacts:

Renee Brotherton

Kevin Kessel

Corporate Communications

Investor Relations

(408) 576-7189

(408) 576-7985

renee.brotherton@flextronics.com

kevin.kessel@flextronics.com



RIWISA Contacts:

Peter Richner

Gerold Richner

President, Board of Directors

General Manager

+41 56 616 93 93

+41 56 616 93 93

p.richner@riwisa.ch

g.richner@riwisa.ch

SOURCE Flextronics



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