NEENAH, Wis., July 18 /PRNewswire-FirstCall/ -- Plexus Corp. today announced that it had entered into a new operating lease for an extension to its existing building which will include a new three-story office and an additional production facility of approximately 60,000 square feet. This will bring Plexus’ manufacturing capacity in the Xiamen Xiangyu Free Trade Zone in China to 120,000 square feet from its present 60,000 square feet.
Mr. YJ Lim, Plexus’ Vice President-Asia Operations, commented, “Our Xiamen facility has consistently demonstrated its ability to meet our customers’ requirements for quality and on-time delivery in the Medical, Industrial/Commercial and Wireline/Networking sectors. We have gained significant traction with our current customers as a result of the dedication, capability and loyalty of our Xiamen staff. With the support of our local supply chain partners, our lean manufacturing capabilities offer a significant advantage for companies looking for complex high-mix, mid-to-low volume production in China. This expansion will allow us to meet the anticipated needs of both current and new global customers.”
The lease term is for ten years and is coterminous with the present facility lease, which expires in 2016. The new addition is expected to be completed by mid-2007, and production is expected to begin 60-90 days thereafter.
About Plexus Corp. - The Product Realization Company
Plexus ( http://www.plexus.com ) is an award-winning participant in the Electronics Manufacturing Services (EMS) industry, providing product design, test, manufacturing and fulfillment and aftermarket solutions to branded product companies in the Wireline/Networking, Wireless Infrastructure, Medical, Industrial/Commercial and Defense/Security/Aerospace industries.
The Company’s unique Focused Factory manufacturing model and global supply chain solutions are strategically enhanced by value-added product design and engineering services. Plexus specializes in customer programs that require flexibility, scalability, technology and quality.
Plexus provides award-winning customer service to more than 150 branded product companies in North America, Europe and Asia.
Safe Harbor and Fair Disclosure Statement
The statements contained in this release which are guidance or which are not historical facts (such as statements in the future tense and statements including “believe,” “expect,” “intend,” “anticipate,” “target” and similar terms and concepts), including all discussions of periods which are not yet completed, are forward-looking statements that involve risks and uncertainties. In particular, the timing of the completion and commencement of operations of the expanded facility is subject to construction delays, delays in procuring related equipment and training, higher than expected start-up costs, other difficulties inherent in commencing new operations and other factors which could affect the operations at that site. All Plexus operations are subject to other risks, including, but not limited to: the economic performance of the electronics, technology and defense industries; the risk of customer delays, changes or cancellations in both ongoing and new programs; the Company’s ability to secure new customers and maintain its current customer base; material cost fluctuations and the adequate availability of components and related parts for production; the effect of changes in average selling prices; the effect of start-up costs of new programs and facilities; the adequacy of restructuring and similar accruals as compared to actual expenses; possible unexpected costs and operating disruption in transitioning programs; the effect of general economic conditions and world events (such as terrorism and war in the Middle East); the impact of increased competition; and other risks detailed in the Company’s Securities and Exchange Commission filings.
Plexus Corp.
CONTACT: Gordon Bitter, CFO of Plexus Corp., +1-920-722-3451, orgordon.bitter@plexus.com
Web site: http://www.plexus.com//
