NEENAH, Wis., Oct. 29, 2010 (GLOBE NEWSWIRE) -- Plexus Corp. (Nasdaq:PLXS), announced today that it has signed an agreement with the Municipality of Oradea for the development of a new manufacturing facility in the city's newly established industrial park. The new building will be located on approximately 22 acres of land in the Eurobusiness Industrial Park in Oradea. Plexus plans to develop a state of the art manufacturing facility of between 160,000 to 215,000 sq feet with an anticipated investment of $25 to $30 million. Construction of the facility is expected to begin in 2011.
Steve Frisch, Regional President - EMEA, commented, "We believe that our investment in Oradea has provided our multinational customers with an optimal lower total-cost European solution, particularly for products with European end-markets. Our customers continue to show increased demand for services in this region since we commenced operations in February 2009 with a leased facility in Oradea, Romania. Coupled with our design services capabilities in Livingston, Scotland and our Kelso, Scotland manufacturing facility, this investment in Oradea furthers our ability to deliver mid-to-low volume, higher complexity Product Realization Value Stream Solutions to our customers in the European region."
Mr. Frisch continued, "Our investment in this new manufacturing facility is an important milestone in the evolution of our European regional growth strategy. We are committed to the continued development of our presence in this region and believe it will enable us to deliver on our longer-term growth goals. To support our growing customer base, and in anticipation of our larger facility in the region, we continue to recruit and hire staff, at all levels and for all functions, into our current facility in Oradea, Romania. We invite interested individuals to consider joining our talented and dynamic team where development and extensive training is provided to all employees. We anticipate that staffing levels may grow to 500 when the new facility is fully operational."
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 service model seamlessly integrates innovative product design, customized supply chain solutions, uniquely configured "focused factory" manufacturing, global end-market fulfillment and after-market services to deliver comprehensive end-to-end solutions for customers in the North American, 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.
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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 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; 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 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 and other locations; 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).