Celestica


Celestica Inc.
Type Public
Founded 1994
Headquarters Canada Toronto, Ontario
Key people Craig H. Muhlhauser (CEO)
Industry Electronics
Products Computing, communications, aerospace and defence, consumer, industrial, automotive electronics
Revenue ▼8.07 billion USD (2007)[1]
Net income ▲-14 million USD (2007)[1]
Employees 42,000 (2008)[1]
Parent Onex Corporation
Website www.celestica.com

Celestica Inc. (TSX: CLS NYSE: CLS) is a multinational electronics manufacturing services (EMS) company headquartered in Toronto, Canada. Celestica operates a global manufacturing network with operations in Asia, Europe and the Americas, providing a broad range of integrated services and solutions to leading OEMs (original equipment manufacturers).

Contents

History

Celestica was incorporated as a wholly owned subsidiary of IBM in January 1994. Onex Corporation acquired Celestica in October 1996 and controls approximately 69% of the company's voting shares.

Operations

Celestica’s global manufacturing network comprises more than 40 locations in the Americas, Europe and Asia. The company's global services include design and engineering, manufacturing and systems assembly, fulfillment and after-market services. They also hold the contract for the Xbox 360 console repair for any broken consoles coming from Canada.

Celestica site located in Reynosa, Mexico

One of the leading facilities which manage After Market Services (CAMS) is the one located in Reynosa, Mexico, a city located in the northern state of Tamaulipas. This site offers after market services such as repair, refurbishing and retesting of several products for several customers. The list of customers for which this site has Business Units (BU) include:

  • Motorola - this business unit is widely dedicated to repairing and refurbishing several models, such as V551, V557, V3, V3c, V325, MotoQ
  • Palm - it repairs and refurbishes smartphones such as Treo 600, Treo 650, Treo 700, and some other handheld models
  • Research In Motion - BlackBerry smartphones such as Charm C and Charm D
  • Sun Microsystems- microprocessor modules for a wide range of network servers
  • Alcatel-Lucent - radio base electronic cards for mobile technologies
  • Hewlett-Packard - displays and monitors
  • Avaya - wireless phones, hubs and phone handsets

Competition for this site include Solectron, Foxconn, Jabil Global Services, and Teleplan; the last 3 also have facilities in Reynosa.

Celestica Site located in Cebu, Philippines

Celestica Cebu was formerly an NEC site. By April 1, 2004, NTEP (NEC Technologies Philippines) was acquired by Celestica Corporate and given the name CPH (Celestica Philippines, Inc.). The products manufactured in CPH are:

ADSL Modem
Media Converter
Champ Amplifier
VDSL Layer 2 Switch
DSLAM
Line Termination Unit
VDSL Modem
Cable TV Home Terminal
Integrated Gateway Unit
Motorola Handheld Scanners

Controversy

On Friday, January 12, 2007 a shareholder class action suit was filed in New York against Celestica and members of the company’s executive team.

The complaint alleges that the company made materially false and misleading statements about the business and failed to disclose adverse facts, namely:

(i) that the Company was experiencing declining demand in its Mexican operations and that the division was carrying significant amounts of unneeded inventory which would have to be written off;

(ii) that the Company was experiencing declining demand in its Information Technology (IT) and Communications market segments as its larger customers scaled back purchases; and that the stock dropped when this information later became public.

This class action suit is still being solved as of June 20, 2009.

External links

Companies portal

References

  1. ^ a b c "Company Profile for Celestica Inc (CLS)". http://zenobank.com/index.php?symbol=CLS&page=quotesearch. Retrieved 2008-10-07. 
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