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Electronics Production | September 13, 2007

Nokia Siemens divest plants in Italy to Jabil

The EU has made an inquiry deadline for Nokia Siemens Networks Oy's divestment of two Italian production plants to Jabil Circuit Inc. The deadline is set for Oct 17.

According to a spokesman for Nokia Siemens the two plants will be sold to the American circuit manufacturer. Jabil is today a major supplier to Nokia Oyj and Siemens AG, the parent companies of Nokia Siemens. The plants affected buy this decision is the Cassina de Pecchi microwave plant near Milan and the Marcianise radioaccess equipment plant near Naples. A preliminary agreement has been reached with trade unions for the transferal of over 600 personnel to Jabil, the spokesman told Thomson Financial News. The deal will probably be finalized within the next few months. No financial terms were disclosed.
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