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Electronics Production | September 20, 2006

Disposal of real estate heavies Flextronics Q2

Flextronics second quarter result is expected to be charged by costs for real estate disposal.

Flextronics International forecast second-quarter pre-tax charges of $90 million to $95 million for the disposal of both company owned and leased real estate. The pre-tax charges would include about $45 million to $50 million in impairment charges. However Flextronics expects net positive cash of $10 million from the reduction of its investment in property, plant and equipment as it expects related proceeds of about $50 million and related cash costs of about $40 million as a result.
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