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Milpitas, Calif. — Solectron Corp. has signed a definitive agreement to form a joint venture with Guangzhou Soutec (Group) Technology Co. Ltd. (Soutec), a leading cell phone provider in China.
The joint venture, Soutectron Technology (Guangzhou) Co. Ltd. (Soutectron), will be the exclusive manufacturer for cell phones designed and marketed by Soutec, which had revenues of $200 million in 2002.
Solectron is majority owner of the joint venture.
The joint venture will lease a building from Soutec on that company's campus in Guangzhou, China. Approximately 850 employees will be hired. Operations are to begin following the Chinese government's approval of the joint venture that is expected by the end of May.
Soutec is the largest cell phone designer, manufacturer and marketing company in Southern China. The company focuses on next generation cell phones, such as CDMA, 3G and GSM. The company was founded in 1999 by six major high-tech companies owned by China Central, Guangdong provincial and Guangzhou city governments.
Solectron Corp. provides a full range of global manufacturing and supply-chain management services to the world's premier high-tech electronics companies. For more information, visit www.solectron.com.