Flextronics Completes Acquisition of...( SINGAPORE Oct. 1 /- Flextronics I...),Health

SINGAPORE, Oct. 1 /PRNewswire-FirstCall/ -- Flextronics International Ltd. (Nasdaq: FLEX) announced today that it has completed its acquisition of Solectron Corporation (NYSE: SLR) creating the most diversified and premier global provider of advanced design and vertically integrated electronics manufacturing services ("EMS").

As a result of this acquisition, Flextronics has the broadest worldwide EMS capabilities, from design resources to end-to-end vertically integrated global supply chain services, which enhance its ability to design, build, and ship products for its customers. By adding Solectron's resources and unique skill sets, Flextronics now provides more value to customers by leveraging the combined global economies of scale in manufacturing, logistics, procurement, design, engineering and ODM services along an even broader selection of products.

Operating in 35 countries, with a workforce of approximately 200,000 employees, including approximately 3,500 design engineers, the combined company's annual revenues exceeds US$30 billion across seven well-diversified customer market segments and four major business units.

Effective as of the close of trading today, trading in Solectron's common stock will cease. Solectron's common stock will subsequently be delisted from the New York Stock Exchange and deregistered with the U.S. Securities and Exchange Commission.

Mike McNamara, chief executive officer of Flextronics, said, "Solectron is an extremely
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