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Electronics Production | November 02, 2007

Jabil leases the Nokia Siemens plants in Italy

Jabil will lease two plants in Italy from Nokia Siemens.
It was earlier announced that Jabil would acquire two plants from Nokia Siemens but it has now been decided that the EMS provider Jabil Circuit will lease the two plants in Cassina de' Pecchi and Marcianise from Nokia Siemens Networks.

The two sites employs over 600 people and those are expected to be consolidated into Jabil's own manufacturing sites in Bergamo and Marcianise.

At the Nokia site in Marcianise the main lines are GSM and Edge Radio Access dedicated. And the Cassina site manufactures microwave devices for wireline and wireless networks.

In a filing with the Securities and Exchange Commission, Jabil says the revenue for the first 12 months of the manufacturing agreement will be about $500 million.

The deal has now been approved by European Union antitrust authorities.

The EMS provider adds that the value of the machinery, equipment and inventory Jabil expects to acquire from Nokia is about $57 million.

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