Jabil Announces Global Expansions
St. Petersburg, FL
International electronics manufacturing service provider Jabil Circuit, Inc (NYSE:JBL) today announced an acquisition of a Brazilian EMS provider and a new greenfield location in Hungary. "The addition of Brazil and Hungary establishes our presence in Latin America and Central Europe, enhancing the global model we offer our customers," said Mark Mondello, senior vice president of business development.
In Central Europe, Jabil has acquired approximately 30 acres in a new industrial park development in Tiszaujvaros, Hungary. The initial facility will be approximately 250,000 square feet and is scheduled to begin production in September of 2000. Tiszaujvaros is located in northeastern Hungary and was selected after considering cost, logistics and the availability of human resources.
"We were searching for a cost-effective manufacturing solution for our customer's growing European manufacturing requirements and selected Hungary, in part for the quality and availability of the workers in the Tiszaujvaros area," said Ron Rapp, Jabil's senior vice president of operational development.
In Brazil, Jabil will be acquiring the assets and business of Bull Information Technology. The business currently operates from leased facilities in the City of Contagem, State of Minas Gerais, in the Belo Horizonte region. Jabil is acquiring approximately 30 acres in Contagem and will be constructing a new facility to replace the currently leased operations. "The acquisition of the Bull Information Technology business and manufacturing assets will greatly accelerate our greenfield plans with existing business and employees," said Rapp. The acquisition of Bull Information Technology is expected to close February 1, 2000.
"Having these two new facilities fully integrated into our existing worldwide infrastructure is exciting, and affords Jabil the opportunity to provide additional supply chain solutions for our customers," said Mondello.
Jabil Circuit, Inc. is an international electronic manufacturing service provider for communications, personal computers, peripherals, automotive and consumer products. Jabil offers services from circuit design, board design from schematic, prototype assembly, volume board assembly, system assembly through repair and warranty services from facilities in the U.S., Mexico, Europe and Asia. Further information about Jabil can be found on the company's website at http://www.jabil.com.
This release contains certain forward-looking statements, which are subject to a number of risks and uncertainties. Some factors that could cause actual results to differ materially include: business conditions and growth in the contract manufacturing industry and the general economy; variability of operating results; dependence on a limited number of customers; limited availability of components; dependence on certain industries; variability of customer requirements; and other risk factors described in the company's most recently filed SEC documents such as the Form 10-K, filed 11/12/99.