Celestica to Divest Power Systems Business

Oct 5, 2004 5:29 PM
Edited by PETech Staff

Celestica Inc. recently signed a definitive agreement to divest its Power Systems business to C&D Technologies in an all-cash transaction, the terms of which were not disclosed. The transaction is expected to close within 30 days.

Under the agreement, Celestica will divest its Power Systems assets and transfer its employees to C&D Technologies. The purchase of Celestica’s Power Systems business will enable C&D Technologies to offer a greater range of power solutions and deeper breadth of capability to its customers.

In addition, the companies have signed a three-year supply agreement for Celestica to manufacture certain C&D Technologies power products. Under this agreement, Celestica’s customers will continue to benefit from Celestica’s expertise in supply chain management and high-quality, low-cost manufacturing.

“The strategic alliance we are forming with C&D Technologies will provide Celestica’s customers with an extensive portfolio of leading power products,” said Marvin MaGee, president of Celestica. “This relationship brings strengths from both companies’ core business to the forefront, enabling customers to continue to leverage the manufacturing strength of Celestica, while taking advantage of the extensive product portfolio of C&D Technologies.”

For more information, visit www.celestica.com.

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