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Electronics Production | February 05, 2008

Celestica's restructuring may<br>lead to closure of certain plants

evertiq.com reported yesterday that EMS provider Celestica plans to spend up to $75 million on an expanded restructuring program in 2008. According to the latest details on the restructuring program, Celestica will reduce the company’s workforce and close certain plants.

The company did not specify which plants that will be affected. According to Newspaper “Canada”, Celestica’s operations in Europe and Mexico have been plagued by losses in the past. According to Celestica, "The company has also determined it will expand its restructuring program by $50 million to $75 million during 2008 in order to further reduce fixed costs and overhead expenses".
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May 21 2019 9:58 pm V13.3.9-1