TORONTO, Jan. 24, 2018 (GLOBE NEWSWIRE) -- Celestica, Inc. (NYSE:CLS) (TSX:CLS), a leader in design, manufacturing and supply
chain solutions for the world's most innovative companies, today announced that it has entered into a definitive agreement to
acquire Atrenne Integrated Solutions, Inc.
Atrenne is a leading designer and manufacturer of ruggedized electromechanical solutions serving multiple markets, primarily for
military and commercial aerospace applications. Atrenne’s integrated solutions serve a full spectrum of
next-generation, mission-critical applications on over 100 military and aerospace programs deployed globally. Its
proprietary designs enable high-performance defense and security platforms to operate in harsh environments and support
the continued growth of commercial aviation with the highest levels of quality and safety.
Headquartered in the United States, Atrenne has two US-based, ITAR-certified sites (Brockton, Massachusetts and New Hope,
Minnesota) and a site in Xiamen, China.
“This acquisition will advance our strategic direction to expand our capabilities, improve our diversification and bolster our
leadership position within Aerospace and Defense,” said Rob Mionis, President and Chief Executive Officer, Celestica. “Our goal is
to broaden our comprehensive portfolio of end-to-end product lifecycle solutions across all of the markets we serve to deliver
enhanced value to our customers.”
Celestica will purchase Atrenne, on a cash-free and debt-free basis, for US$139 million in cash (subject to specific
adjustments as set forth in the definitive agreement) using a combination of cash on hand and its revolving credit facility. The
acquisition is expected to close in the second quarter 2018, subject to receipt of applicable regulatory approvals and satisfaction
of other customary closing conditions.
About Celestica
Celestica enables the world's best brands. Through our recognized customer-centric approach, we partner with leading
companies in aerospace and defense, communications, enterprise, healthtech, industrial, semiconductor capital equipment, and smart
energy to deliver solutions for their most complex challenges. A leader in design, manufacturing, hardware platform and supply
chain solutions, Celestica brings global expertise and insight at every stage of product development - from the drawing
board to full-scale production and after-market services. With talented teams across North
America, Europe and Asia, we imagine, develop and deliver a better future with our customers.
About Atrenne Integrated Solutions, Inc.
Atrenne Integrated Solutions is an advanced, vertically-integrated, component and system provider serving aerospace, defense,
computing, communications, and other technology-driven industries. Atrenne delivers integrated components, electronic packaging,
fabricated metal, electronic assemblies and value-add build-to-print manufacturing services to industrial markets across the globe.
With more than 40 years of experience, Atrenne provides innovatively engineered products and services throughout the program
lifecycle, from concept to manufacturing to obsolescence management. Atrenne is proud to provide customers with fully-tested,
reliable, electromechanical solutions on-time and with world-class quality. Atrenne is headquartered in the United States.
For more information, visit http://www.atrenne.com/
Forward-Looking Statements
This news release contains forward-looking statements, including, without limitation, those related to completion of our
acquisition of Atrenne and the timing, cost and terms thereof, the expected sources of funding for the acquisition, the
impact of the acquisition on our position in aerospace and defense, and our goal of broadening our portfolio of end-to-end product
lifecycle solutions. Such forward-looking statements may, without limitation, be preceded by, followed by, or include words such as
“believes”, “expects”, “anticipates”, “estimates”, “intends”, “plans”, “continues”, “project”, “potential”, “possible”,
“contemplate”, “seek”, “goal”, or similar expressions, or may employ such future or conditional verbs as “may”, “might”, “will”,
“could”, “should” or “would”, or may otherwise be indicated as forward-looking statements by grammatical construction, phrasing or
context. For those statements, we claim the protection of the safe harbor for forward looking statements contained in the U.S.
Private Securities Litigation Reform Act of 1995, where applicable, and applicable Canadian securities laws. Forward-looking
statements are provided for the purpose of assisting readers in understanding management's current expectations and plans relating
to the future. Forward-looking statements are not guarantees of future performance and are subject to risks that could cause actual
results to differ materially from conclusions, forecasts or projections expressed in such statements, including, among others,
risks relating to failure to obtain regulatory approvals for the acquisition, a material adverse change at Atrenne, a failure of
Atrenne to obtain requisite shareholder approval for the transaction, a failure to consummate the transaction on a timely basis or
at all, our failure to obtain adequate funding for the acquisition on acceptable terms, stockholders of Atrenne exercising
dissent rights, the purchase price varying from the expected amount, a failure to achieve the anticipated benefits expected from
the acquisition, and the failure to successfully integrate the acquisition, as well as those risks discussed in our various public
filings at www.sedar.com and www.sec.gov, including in our interim Management's Discussion and Analysis of Financial Condition and
Results of Operations, our most recent Annual Report on Form 20-F filed with, and subsequent reports on Form 6-K furnished to, the
U.S. Securities and Exchange Commission, and as applicable, the Canadian Securities Administrators. The forward-looking statements
contained in this press release are based on various assumptions, many of which involve factors that are beyond our control. The
material assumptions include those related to the following: applicable regulatory approvals and other customary closing conditions
to the acquisition will be satisfied, and consummation of the transaction will occur in a timely manner; internal cash flow
projections will be as expected in order to finance, in part, the acquisition with cash on hand; we will be able to incur further
indebtedness as expected and on an economical basis to finance, in part, the acquisition; we will be able to successfully integrate
the acquisition; and we will be able to successfully expand our portfolio of solutions and achieve other expected benefits
through this acquisition. While management believes these assumptions to be reasonable under the current circumstances, they may
prove to be inaccurate. Except as required by applicable law, we disclaim any intention or obligation to update or revise any
forward-looking statements, whether as a result of new information, future events or otherwise.
Media Contacts
Celestica Communications
(416) 448-2200
media@celestica.com
Celestica Investor Relations
(416) 448-2211
clsir@celestica.com
