Jabil Circuit buys Celetronix of India
By agencies | Friday, 20 January 2006, 08:00 Hrs
NEW YORK: Florida based contract electronics manufacturer Jabil Circuit Inc. has acquired Celetronix International Ltd., a privately held, India based electronic products maker. Celetronix, founded by Sirjung Lal Tandon and Manohar Lal Tandon has manufacturing and marketing facilities in Simi Valley and Redwood City, CA, Sri Lanka, Malaysia, Singapore, Ireland and Worchester, U.K. Jabil loaned $25 million to Celetronix in fiscal 2005 in exchange for an option to purchase 100 percent of the shares of the company. The incremental purchase price is expected to be about $155 million plus assumption of about $30 million in net debt, the company said.