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Celestica Inc., a leader in design, manufacturing, and supply chain solutions for the world’s most innovative companies, announced that it has completed its previously announced acquisition of Singapore-based PCI Private Limited (PCI), an electronics manufacturing services (EMS) provider in Asia.
The acquisition of PCI advances Celestica’s high-growth, high-margin strategy by expanding its capabilities in key markets and strengthening its presence in Asia to serve a diverse customer base across the U.S. and Europe. PCI has five design and manufacturing centers strategically located in Asia, and more than 50 years of operational expertise with a deep understanding of competitive dynamics in the Asia Pacific region.
Acquiring PCI will enable Celestica to increase its engineering capabilities and talent, diversify its customer base, and expand its Advanced Technology Solutions (ATS) portfolio with high-growth programs, including full product development across the markets Celestica serves.
The acquisition was financed with cash on hand and available borrowings of $220 million under Celestica’s current credit facility. Celestica is currently pursuing the addition of a new term loan under the credit facility, which if obtained, will be used to repay the amounts borrowed under the existing revolver for the acquisition.