PRESS RELEASE: Operations Resume in Plexus' Oradea, Romania Facility Subsequent to a Fire Last Week
18.08.2010
Plexus Corp. /
18.08.2010 22:01
Dissemination of a Corporate News, transmitted by
DGAP - a company of EquityStory AG.
The issuer / publisher is solely responsible for the content of this announcement.
=--------------------------------------------------------------------------
NEENAH, Wis., Aug. 18, 2010 (GLOBE NEWSWIRE) -- Plexus Corp. (Nasdaq:PLXS),
announced today that it has resumed operations in Oradea, Romania following a
fire that occurred last week (as previously announced). The fire was isolated
to the administrative offices in one of the two buildings that Plexus leased
approximately 18 months ago as the first phase of its lower cost European
manufacturing strategy. The fire occurred at a time when the building was
unoccupied; therefore, no injuries or fatalities resulted from this incident.
While a final determination is still pending, the source of the fire appears
consistent with an electrical failure.
Mike Buseman, Sr. Vice President, Global Manufacturing Operations, commented,
'Given our growth plans in this geographically important region, we were
fortunate that the fire was limited to non-production areas and we were able to
relocate our administrative staff to our second building (adjacent to the fire
damaged building) allowing us to continue operations seamlessly. During this
short operations outage, we did not miss any customer shipments or experience
any interruptions in our supply chain. Our team did an outstanding job at
managing this incident and resuming operations quickly with minimal or no
impact to our customers.'
About Plexus Corp. - The Product Realization Company
Plexus (www.plexus.com) is an award-winning participant in the Electronic
Manufacturing Services (EMS) industry, providing product design, supply chain
and materials management, manufacturing, test, fulfillment and aftermarket
solutions to branded product companies in the Wireline/Networking, Wireless
Infrastructure, Medical, Industrial/Commercial and Defense/Security/Aerospace
market sectors.
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 mid- to low-volume, higher-mix
customer programs that require flexibility, scalability, technology and
quality.
Plexus provides award-winning customer service to more than 100 branded product
companies in North America, Europe and the Asia Pacific region.
The Plexus Corp. logo is available at
http://www.globenewswire.com/newsroom/prs/?pkgid=7065
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,' 'plan,' 'anticipate,' 'goal,' '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. These risks and uncertainties include, but are not limited to:
the economic performance of the industries, sectors and customers we serve; the
risk of customer delays, changes, cancellations or forecast inaccuracies in
both ongoing and new programs; the poor visibility of future orders,
particularly in view of current economic conditions; the effects of the volume
of revenue from certain sectors or programs on our margins in particular
periods; our ability to secure new customers, maintain our current customer
base and deliver product on a timely basis; the risk that our revenue and/or
profits associated with customers who have been recently acquired by third
parties will be negatively affected; the risks relative to new customers,
including our arrangements with The Coca-Cola Company, which risks include
customer delays, start-up costs, potential inability to execute, the
establishment of appropriate terms of agreements, and the lack of a track
record of order volume and timing; the risks of concentration of work for
certain customers; our ability to manage successfully a complex business model;
the risk that new program wins and/or customer demand may not result in the
expected revenue or profitability; the fact that customer orders may not lead
to long-term relationships; the effects of the current constrained supply
environment, which has led and may continue to lead to periods of shortages and
delays in obtaining components based on the lack of capacity at some of our
suppliers to meet increased demand, or which may cause customers to increase
forecasts and orders to secure raw material supply or result in our inability
to secure raw materials required to complete product assemblies; raw materials
and component cost fluctuations particularly due to sudden increases in
customer demand; the risks associated with excess and obsolete inventory,
including the risk that inventory purchased on behalf of our customers may not
be consumed or otherwise paid for by customer resulting in an inventory
write-off; the weakness of the global economy and the continuing instability of
the global financial markets and banking system, including the potential
inability on our part or that of our customers or suppliers to access cash
investments and credit facilities; the effect of changes in the pricing and
margins of products; the effect of start-up costs of new programs and
facilities, including our recent and planned expansions, such as our new
facilities in Hangzhou, China and Oradea, Romania, and our plans to further
expand in Penang, Malaysia and other locations; the adequacy of restructuring
and similar charges as compared to actual expenses; the risk of unanticipated
costs, unpaid duties and penalties related to an ongoing audit of our import
compliance by U.S. Customs and Border Protection; possible unexpected costs and
operating disruption in transitioning programs; the potential effect of world
or local events or other events outside our control (such as drug
cartel-related violence in Mexico, changes in oil prices, 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 (particularly in
Part I, Item 1A of our annual report on Form 10-K for the fiscal year ended
October 3, 2009).
CONTACT: Plexus Corp.
United States:
Kristine Rhode, Corporate Communications Specialist
920-720-6749
kristine.rhode@plexus.com
Europe:
Willie MacKinnon, Sr. Director of Operations, European Region
+44 1573 227 054
willie.mackinnon@plexus.com
News Source: NASDAQ OMX
18.08.2010 Ad hoc announcement, Financial News and Press Release distributed by DGAP.
Media archive at www.dgap-medientreff.de and www.dgap.de
=--------------------------------------------------------------------------
Language: English
Company: Plexus Corp.
United States
Phone:
Fax:
E-mail:
Internet:
ISIN: US7291321005
WKN:
End of News DGAP News-Service
=--------------------------------------------------------------------------
Plexus Corp. /
18.08.2010 22:01
Dissemination of a Corporate News, transmitted by
DGAP - a company of EquityStory AG.
The issuer / publisher is solely responsible for the content of this announcement.
=--------------------------------------------------------------------------
NEENAH, Wis., Aug. 18, 2010 (GLOBE NEWSWIRE) -- Plexus Corp. (Nasdaq:PLXS),
announced today that it has resumed operations in Oradea, Romania following a
fire that occurred last week (as previously announced). The fire was isolated
to the administrative offices in one of the two buildings that Plexus leased
approximately 18 months ago as the first phase of its lower cost European
manufacturing strategy. The fire occurred at a time when the building was
unoccupied; therefore, no injuries or fatalities resulted from this incident.
While a final determination is still pending, the source of the fire appears
consistent with an electrical failure.
Mike Buseman, Sr. Vice President, Global Manufacturing Operations, commented,
'Given our growth plans in this geographically important region, we were
fortunate that the fire was limited to non-production areas and we were able to
relocate our administrative staff to our second building (adjacent to the fire
damaged building) allowing us to continue operations seamlessly. During this
short operations outage, we did not miss any customer shipments or experience
any interruptions in our supply chain. Our team did an outstanding job at
managing this incident and resuming operations quickly with minimal or no
impact to our customers.'
About Plexus Corp. - The Product Realization Company
Plexus (www.plexus.com) is an award-winning participant in the Electronic
Manufacturing Services (EMS) industry, providing product design, supply chain
and materials management, manufacturing, test, fulfillment and aftermarket
solutions to branded product companies in the Wireline/Networking, Wireless
Infrastructure, Medical, Industrial/Commercial and Defense/Security/Aerospace
market sectors.
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 mid- to low-volume, higher-mix
customer programs that require flexibility, scalability, technology and
quality.
Plexus provides award-winning customer service to more than 100 branded product
companies in North America, Europe and the Asia Pacific region.
The Plexus Corp. logo is available at
http://www.globenewswire.com/newsroom/prs/?pkgid=7065
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,' 'plan,' 'anticipate,' 'goal,' '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. These risks and uncertainties include, but are not limited to:
the economic performance of the industries, sectors and customers we serve; the
risk of customer delays, changes, cancellations or forecast inaccuracies in
both ongoing and new programs; the poor visibility of future orders,
particularly in view of current economic conditions; the effects of the volume
of revenue from certain sectors or programs on our margins in particular
periods; our ability to secure new customers, maintain our current customer
base and deliver product on a timely basis; the risk that our revenue and/or
profits associated with customers who have been recently acquired by third
parties will be negatively affected; the risks relative to new customers,
including our arrangements with The Coca-Cola Company, which risks include
customer delays, start-up costs, potential inability to execute, the
establishment of appropriate terms of agreements, and the lack of a track
record of order volume and timing; the risks of concentration of work for
certain customers; our ability to manage successfully a complex business model;
the risk that new program wins and/or customer demand may not result in the
expected revenue or profitability; the fact that customer orders may not lead
to long-term relationships; the effects of the current constrained supply
environment, which has led and may continue to lead to periods of shortages and
delays in obtaining components based on the lack of capacity at some of our
suppliers to meet increased demand, or which may cause customers to increase
forecasts and orders to secure raw material supply or result in our inability
to secure raw materials required to complete product assemblies; raw materials
and component cost fluctuations particularly due to sudden increases in
customer demand; the risks associated with excess and obsolete inventory,
including the risk that inventory purchased on behalf of our customers may not
be consumed or otherwise paid for by customer resulting in an inventory
write-off; the weakness of the global economy and the continuing instability of
the global financial markets and banking system, including the potential
inability on our part or that of our customers or suppliers to access cash
investments and credit facilities; the effect of changes in the pricing and
margins of products; the effect of start-up costs of new programs and
facilities, including our recent and planned expansions, such as our new
facilities in Hangzhou, China and Oradea, Romania, and our plans to further
expand in Penang, Malaysia and other locations; the adequacy of restructuring
and similar charges as compared to actual expenses; the risk of unanticipated
costs, unpaid duties and penalties related to an ongoing audit of our import
compliance by U.S. Customs and Border Protection; possible unexpected costs and
operating disruption in transitioning programs; the potential effect of world
or local events or other events outside our control (such as drug
cartel-related violence in Mexico, changes in oil prices, 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 (particularly in
Part I, Item 1A of our annual report on Form 10-K for the fiscal year ended
October 3, 2009).
CONTACT: Plexus Corp.
United States:
Kristine Rhode, Corporate Communications Specialist
920-720-6749
kristine.rhode@plexus.com
Europe:
Willie MacKinnon, Sr. Director of Operations, European Region
+44 1573 227 054
willie.mackinnon@plexus.com
News Source: NASDAQ OMX
18.08.2010 Ad hoc announcement, Financial News and Press Release distributed by DGAP.
Media archive at www.dgap-medientreff.de and www.dgap.de
=--------------------------------------------------------------------------
Language: English
Company: Plexus Corp.
United States
Phone:
Fax:
E-mail:
Internet:
ISIN: US7291321005
WKN:
End of News DGAP News-Service
=--------------------------------------------------------------------------
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