Sanmina to acquire Alcatel's manufacturing operations in Texas

June 27, 2001
June 27, 2001--Sanmina Corporation, an electronics contract manufacturer, and Alcatel, a global supplier of next-generation networks, announced they have signed a letter of intent for Sanmina to acquire Alcatel's manufacturing operations in Richardson, Texas.

Sanmina Corporation (NASDAQ NM: SANM), an electronics contract manufacturer, and Alcatel (NYSE: ALA), a global supplier of next-generation networks, announced they have signed a letter of intent for Sanmina to acquire Alcatel's manufacturing operations in Richardson, Texas. Alcatel announced in February 2001 that it planned to divest this operation.

The transaction is expected to close in Sanmina's September 2001 quarter, following the execution of a definitive agreement and completion of all other government requirements. Financial terms of the agreement, which includes a multi-year supply contract, were not disclosed.

Alcatel's advanced manufacturing operation in Richardson is ISO 9001 and TL 9000 certified and occupies facilities totaling approximately 320,000 square feet, and employs 450 employees.

The divestiture also is expected to result in operational efficiencies for Alcatel that will improve cash flow and further strengthen its position in the marketplace.

About Sanmina:

Founded in 1980, Sanmina Corporation provides a design and manufacturing solution to original equipment manufacturers (OEMs) in the communications, medical, industrial instrumentation, and high-end computer sectors. For more information, visit www.sanmina.com.

About Alcatel:

Alcatel builds next generation networks, delivering integrated end-to-end voice and data networking solutions to established and new carriers, as well as enterprises and consumers worldwide. For more information, visit www.alcatel.com.

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