Celestica sells operation in Italy

Celestica said the move is consistent with its strategy of shifting most of its production to lower-cost regions while keeping a strategic presence in pricier areas in the Americas, Europe and Asia. Through the agreement, approximately 850 employees currently employed by Celestica in Vimercate will continue their employment with the existing Italian entities, now subsidiaries of Bartolini Progetti S.p.A. Customers of the Vimercate, Italy site will continue to be supported out of the site, with services provided by Bartolini Progetti S.p.A., either directly or under a subcontract agreement with Celestica. This arrangement will provide Celestica with continuing capacity and service capability in Italy for ongoing customer support, complementing the company's end-to-end supply chain solutions in Eastern Europe. Bartolini Progetti S.p.A. will engage in a re-industrialization of the Vimercate operation, which will maintain the site's industry leading technology and business skills. This will also lead to an enhancement of the operation by offering new services to customers.