NEENAH, Wis., April 3, 2012 (GLOBE NEWSWIRE) -- Plexus Corp. (Nasdaq:PLXS) today announced plans to construct a new manufacturing facility in Oradea, Romania. The facility, which will be located in the Eurobusiness Industrial Park, will replace Plexus' existing leased facility in Oradea. The new facility will have 280,000 square feet of manufacturing and office space, with adjacent land available for future expansion. The investment is approximately $40 million, and the project is scheduled to be completed in the spring of 2013. It is anticipated that staffing levels would grow from the current level of 245 to 500 when the facility is fully operational.
Steve Frisch, Regional President Plexus - EMEA commented, "Since we commenced operations in 2009 with a leased facility in Oradea, we have built a strong team of people who have consistently delivered great service to our customers. As a result, we continue to grow a significant customer base in this important region which is driving the requirement for additional manufacturing capacity. Our investment in this new facility will allow us to provide an enhanced value proposition to our customers in the mid-to-low volume, higher complexity market space. This facility can provide our customers a lower total cost European solution, particularly for customers with European end markets."
Mr. Frisch continued, "This new manufacturing facility demonstrates our commitment to a long-term growth strategy in the EMEA region. Our new Oradea facility, coupled with our existing manufacturing capabilities in Kelso, Scotland and Engineering Solutions in Livingston, Scotland and Darmstadt, Germany, provides a flexible regional offering for delivering complete Product Realization Solutions to customers in the EMEA region."
Plexus celebrated the announcement today by hosting a local event with Plexus' Regional President, Steve Frisch, and representatives from the Mayor's office in Oradea and Plexus' design and build partner, GSE Group.
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 Americas, 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 130 branded product companies in the Networking/Communications, 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: our inability to implement the Oradea, Romania expansion as planned or derive anticipated business levels and financial performance from the expansion; the risk that our recent transaction with Kontron will not result in the revenues or margins anticipated by us; 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 or recent customers or programs, 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 shortages and delays in obtaining components as a result of economic cycles or natural disasters, such as the floods in Thailand; 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 the 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 planned expansion in Oradea, Romania, and our expansion 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; increasing regulatory and compliance requirements; 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 and terrorism); 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 1, 2011).