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Celestica gets foothold in India with acquisition

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CIOL Bureau
New Update

OTTAWA: Celestica Inc., the world's No. 4 contract electronics manufacturer, said on Thursday it has gained a foothold in India with the acquisition of an electronics manufacturer in Hyderabad.

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Toronto-based Celestica did not disclose financial terms of the deal to buy Ramnish Electronics Pvt. Ltd., which has about 250 permanent and contract employees.

Celestica said it would relocate Ramnish's existing plant to expanded facilities in the Hyderabad area later this year.

Celestica is in the midst of a restructuring announced in January that will eliminate 5,500 jobs over a 15-month period. Once complete, 85 percent of its remaining 40,000 staff will work in low-cost countries such as China and Romania.

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Ramnish provides such services as design, printed circuit board assembly, and system assembly to the Indian and international markets. Its customers include companies in the information technology, automotive, power electronics and appliance sectors.

"Ramnish Electronics ... will enable us to meet our global customers' requirements for electronics manufacturing services (EMS) in India," Celestica's chief executive, Steven Delaney, said in a statement.

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