EU Clears Sanmina Acquisition
Mar. 22, 2002
%mlink(STRY:; PHOTO:; AUDIO:%)
BRUSSELS, Belgium (AP) _ The European Union Commission Friday cleared U.S. electronics manufacturer Sanmina-SCI Corp.'s acquisition of three European factories from French communications giant Alcatel SA.
Financial terms of the deal weren't disclosed.
The deal was approved under the Commission's simplified antitrust procedure. This clears qualifying mergers or joint ventures after one month if no objections are raised by third parties.
Under a multiyear contract, Sanmina-SCI will supply Alcatel with microwave and voice and data transmission systems.
The plants purchased are located at Cherbourg, France; Gunzenhausen, Germany and Toledo, Spain. The 1,500 employees working at the plants will become Sanmina-SCI employees.
Sanmina-SCI is the result of a merger between Sanmina Corp, of San Jose, Calif., and SCI Systems Inc., based in Huntsville, Ala., completed in December 2001.