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Flextronics Continues to Acquire
December 31, 1969 |Estimated reading time: Less than a minute
ROCHESTER, N.H. and SAN JOSE, Calif. - Cabletron Systems and Flextronics International announced they have entered into a definitive agreement in which Cabletron will divest manufacturing and repair services operations in Rochester, N.H. and Limerick, Ireland, to Flextronics. Under terms of the agreement, Flextronics will acquire manufacturing-related assets and inventories, and will also hire Cabletron`s worldwide manufacturing workforce of approximately 1,000.
"By partnering with Flextronics, Cabletron continues along its path of focusing on core competencies and completes its plan for 100 percent outsourcing of manufacturing - an important milestone and further evidence that we intend to execute on our strategy," said Piyush Patel, Cabletron`s chairman and CEO. "We are looking forward to an ongoing, mutually rewarding relationship with Flextronics and are very pleased that this approach will also allow this highly skilled and dedicated workforce to remain employed in the local community."
Michael Marks, CEO of Flextronics, said, "Complementary to our recently announced acquisition of the Dii Group, the Cabletron partnership allows us to execute with speed and flexibility on our plan to develop a strong presence on both the East Coast and in Ireland."