Plexus Corp. 10.02.2011 18:30 =-------------------------------------------------------------------------- KELSO, Scotland, 2011-02-10 18:30 CET (GLOBE NEWSWIRE) --Plexus Corp. (Nasdaq:PLXS) announces today that it continues to build their customer partnership with OnStream by supporting the development of their industry-leading smart meters. OnStream's success was recently recognised at the European Smart Metering Awards 2011 when they were awarded both the Meter Manufacturer & Technology of the Year and the Innovation of the Year Awards. These awards recognise OnStream as a key contributor in the progression of smart metering and also acknowledge the innovative approach that OnStream adopted in developing their new smart meter offering. A photo accompanying this release is available at http://www.globenewswire.com/newsroom/prs/?pkgid=8744 Plexus was selected to be OnStream's partner because of its ability to deliver optimized Product Realization Value Stream Solutions that provide flexibility to expand the service model to meet changing market needs. Since October 2009, Plexus has provided OnStream with a high quality of service through localised product development at its Livingston Design Centre, and prototyping and volume manufacturing at its Kelso manufacturing facility. Speaking after the awards, Willie MacKinnon, Senior Operations Director in EMEA at Plexus, commented, 'We are excited to partner with OnStream on their smart meter program and are pleased that they have been recognised as industry leaders. We look forward to continuing our partnership with OnStream as they roll out their smart meter products by providing scalable, flexible and cost effective solutions that meet their growth needs in this exciting new market.' Speaking at the summit, OnStream's Strategy & Smart Development Manager Keith Hawkins, commented, 'We are delighted to win these awards. Not only do they recognise the hard work we have put into our product development, but are also confirmation from the industry that OnStream is seen to have the leading smart products and are at the forefront of driving forward innovative solutions to support the wider industry smart metering roll out.' Keith went further to thank Plexus for supporting and building the OnStream manufacturing capability. About Plexus Corp. - The Product Realization Company Plexus (www.plexus.com) delivers optimized Product Realization solutions through a unique Product Realization Value Stream service model. This customer focused services model seamlessly integrates innovative product conceptualization, design, commercialization, manufacturing, fulfillment, and sustaining services to deliver comprehensive end-to-end solutions for customers in the America, European and Asia-Pacific regions. Plexus is the industry leader in servicing mid-to-low volume, higher complexity customer programs characterized by unique flexibility, technology, quality and regulatory requirements. Award-winning customer service is provided to over 100 branded product companies in the Wireline/Networking, Wireless Infrastructure, Medical, Industrial/Commercial and Defense/Security/Aerospace market sectors. The Plexus Corp. logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=7065 About OnStream OnStream, a National Grid company, is one of Britain's leading metering companies, providing dual fuel traditional and smart metering solutions to customers across Great Britain. OnStream offers a flexible and professional range of meter management services to both residential and commercial customers, with more than 4.5 million meters installed to date. OnStream offers smart metering services aimed at improving service provision and reducing environmental impact and has, so far, installed more than 60,000 smart meters in homes and businesses. To support smart metering it offers data collection and aggregation services ensuring a holistic, end-to-end service for its customers. In addition, OnStream provides traditional meter reading services alongside world-class Automated Meter Reading services for both domestic and non-domestic customers, through which it collects consumption data on a daily basis from more than 20,000 AMR devices. For more information, please visit www.onstream.co.uk. 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 risk of customer delays, changes, cancellations or forecast inaccuracies in both ongoing and new programs; the continuing poor visibility of future orders, particularly in view of current economic conditions; the economic performance of the industries, sectors and customers we serve; 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 are acquired by third parties will be negatively affected; the particular risks relative to new customers, including our arrangements with The Coca-Cola Company, which risks include customer and other 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 characterized by high customer and product mix, low volumes and demanding quality, regulatory, and other requirements; 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; 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 of our customers or suppliers to access 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 replacement facility in Oradea, Romania, and our plans to further expand in Penang, Malaysia, Darmstadt, Germany and Xiamen, China; 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 fluctuations in the value of the currencies in which we transact business; 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 2, 2010). CONTACT: Willie MacKinnon Senior Operations Director - EMEA +44 (0) 1573 227054 or email@example.com News Source: NASDAQ OMX 10.02.2011 Dissemination of a Corporate News, transmitted by DGAP - a company of EquityStory AG. The issuer is solely responsible for the content of this announcement. DGAP's Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. 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 Announcement DGAP News-Service =--------------------------------------------------------------------------
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