The story
Founded by IBM in 1994, in Toronto.1
Celestica was incorporated in 1994 as a subsidiary of IBM. In 1996, it was sold off to Onex Corporation. On 29 June 1998, Celestica began its initial public offering (IPO) and agreed to sell 20.6 million shares at a price of US$17.50.
In April 2001, the company announced it was laying off 3,000 people, about 10% of its workforce, due to the dot-com crash. Losses mounted and on 29 January 2004 the company announced that company CEO Eugene Polistuk would be retiring. In April 2004, Stephen Delaney took over as CEO in a temporary capacity.
CEO Craig Muhlhauser announced his retirement in October 2014. Rob Mionis took over from him on 1 August 2015.
Acquisition history
In 1997, Celestica established its presence in Europe with the acquisition of Design-to-Distribution (D2D) Limited, an International Computers Limited (ICL) company that was the largest European-based EMS company. The same year, Celestica announced its first US-based acquisition: Hewlett-Packard's Fort Collins, Colorado, printed circuit assembly (PCA) operation.
In January 1998, Celestica established its first manufacturing presence in Mexico by acquiring Lucent Technologies's manufacturing facility in Monterrey, Mexico. The following month, the company expanded its European footprint by acquiring Madge Networks' Dublin, Ireland operation. Also in 1998, acquired IMS (International Manufacturing Services) to establish manufacturing operations in Japan, Thailand, Hong Kong, and China.
In 2000, Celestica acquired IBM's facilities in Vimercate and Santa Palomba, Italy and a facility in Rochester, Minnesota. In May 2001, certain Avaya, Inc., products and manufacturing processes were acquired by Celestica. The locations of Avaya's Denver, Colorado and Little Rock, Arkansas were for Celestica to supply telecommunications products such as printed circuit boards and systems repair, test, and assembly. This acquisition of Avaya's certain assets were for Celestica to establish a five-year contract in manufacturing outsourcing partnership and supply chain management for a more diverse telecommunication products for Celestica.
In August 2001, certain Lucent Technologies manufacturing assets in Oklahoma City, Oklahoma and Columbus, Ohio were signed into a five-year supply agreement by Celestica and positioning it as a lead electronics manufacturing services provider for Lucent’s North American wireless networking systems, access, and switching products. With this supply agreement with Lucent, it was one of the top three customers with over 10% of the revenue for Celestica in 2001, IBM and Sun Microsystems were the other customers in this revenue segment since 2000 and 1999, respectively. The Lucent deal cost $570 million in cash for Celestica and possible value of up to $10 billion as a contract manufacturer for Lucent's strategy of developing networking systems, instead of manufacturing.
In August 2001, Celestica acquired certain assets in Saumur, France and established a global location at the following address: ZI de Saint Lambert 49412 Saumur Cedex France. In October 2001, Celestica acquired Omni Industries, expanding the company's presence in China, Malaysia and Singapore. Additionally, adding corporate locations in Thailand and Indonesia with the Omni acquisition. Later in February 2005, Celestica announced it will close its manufacturing plant in Mt. Pleasant, Iowa, affecting 334 employees and 90 temporary workers. In 2012, Celestica acquired D&H Manufacturing Company, a leading manufacturer of precision machined components and assemblies. In 2018, Celestica acquired Atrenne Integrated solutions and Impakt.
From Wikipedia’s article on Celestica, shared under CC BY-SA 4.0.8