Plexus to Expand Capacity and Capabilities in Malaysia
NEENAH, Wis., Sept. 22 /PRNewswire-FirstCall/ -- Plexus Corp. (NASDAQ:PLXS) today announced that it has entered into a definitive agreement to purchase an additional manufacturing facility in Penang, Malaysia. Located on about 23 acres, the new facility will be Plexus' third plant in Malaysia and will provide an additional 364,000 square feet of manufacturing space for Plexus to meet the increasing demands of its customers for advanced, agile manufacturing and fulfillment solutions. This investment furthers Plexus' strategy to develop a Center of Excellence in its Manufacturing and Engineering Services Hub in Asia. Plexus will also construct additional space at the new site for offices and laboratories as part of the continuing expansion of its local engineering and design capabilities. The initial investment for the new facility, approximately $13.0 million, is expected to be completed in the first fiscal quarter of 2007. Additional investments for the improvement and expansion of the building and initial outfitting of machinery and equipment are estimated at $25.0 million for fiscal 2007.
Mr. Y.J. Lim, Plexus' Vice President-Asia Operations, observed, "We and our customers are extremely pleased with the high level of manufacturing and engineering expertise of our team in Malaysia and with their on-time performance. Advanced design, manufacturing and logistics solutions are increasingly important to our global customers. This new facility will allow us to increase our ability to offer such solutions in Asia." Addition of this facility brings Plexus' manufacturing capacity in Malaysia to approximately 630,000 square feet. Production is expected to begin late in the second quarter of fiscal 2007.
About Plexus Corp. - The Product Realization Company
Plexus ( www.plexus.com/ ) is an award-winning participant in the Electronics Manufacturing Services (EMS) industry, providing product design, test, manufacturing and fulfillment and aftermarket solutions to branded product companies in the Wireline/Networking, Wireless Infrastructure, Medical, Industrial/Commercial and Defense/Security/Aerospace industries.
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 customer programs that require flexibility, scalability, technology and quality.
Plexus provides award-winning customer service to more than 150 branded product companies in North America, Europe and Asia.
Source: Plexus Corp.
CONTACT: Gordon Bitter, CFO of Plexus Corp., +1-920-722-3451, or gordon.bitter@plexus.com
Web site: www.plexus.com/
