NEENAH, Wis., Nov. 30, 2010 (GLOBE NEWSWIRE) -- Plexus Corp. (Nasdaq:PLXS), announced that it has entered into an agreement to lease an approximately 15,000 sq ft space in the Europa Arkaden building in Darmstadt, Germany. The space will house a design center including engineering offices and product development facilities consistent with other Plexus design centers around the globe that provide Engineering Solutions to electronics OEMs (Original Equipment Manufacturers). The Darmstadt Design Center is expected to be operational in March 2011.
Steve Frisch, Regional President – EMEA (Europe, Middle East, Africa), who will be located in Darmstadt, commented, "We are committed to expanding our presence in the EMEA region to enable us to meet our longer-term growth goals. The opening of our design center in Darmstadt is in alignment with our EMEA growth strategy, and it represents another significant milestone for Plexus as we continue to expand our global Engineering Solutions capabilities. Coupled with our existing Engineering Solutions in Livingston, Scotland and our Manufacturing Solutions in Scotland and Romania, the Darmstadt Design Center is a vital location that will strengthen our fully integrated Product Realization Value Stream Solutions in the EMEA region. We believe that this expansion of our footprint and service offering will further enhance our position to be the leader in the mid-to-low volume, higher complexity market space."
Plexus currently offers customers world-class Engineering Solutions from five global design centers. This sixth engineering TEAM in Darmstadt will join over 350 engineers globally and will offer a full suite of design solutions for customers across Plexus' key market sectors.
About Plexus Corp. – The Product Realization Company
Plexus (www.plexus.com) delivers optimized Product Realization solutions through a unique Product Realization Value Stream service model. This customer focused services model seamlessly integrates innovative product conceptualization, design, commercialization, manufacturing, fulfillment, and sustaining services to deliver comprehensive end-to-end solutions for customers in the North American, European and Asia-Pacific regions.
Plexus is the industry leader in servicing mid-to-low volume, higher complexity customer programs characterized by unique flexibility, technology, quality and regulatory requirements. Award-winning customer service is provided to over 100 branded product companies in the Wireline/Networking, Wireless Infrastructure, Medical, Industrial/Commercial and Defense/Security/Aerospace market sectors.
The Plexus Corp. logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=7065
Safe Harbor and Fair Disclosure Statement
The statements contained in this release which are guidance or which are not historical facts (such as statements in the future tense and statements including "believe," "expect," "intend," "plan," "anticipate," "goal," "target" and similar terms and concepts), including all discussions of periods which are not yet completed, are forward-looking statements that involve risks and uncertainties. These risks and uncertainties include, but are not limited to: the effect of start-up costs of new programs and facilities, including our new office and facility in Darmstadt, Germany and other recent and planned expansions in Hangzhou, China, Oradea, Romania, and Penang, Malaysia; the economic performance of the industries, sectors and customers we serve; the risk of customer delays, changes, cancellations or forecast inaccuracies in both ongoing and new programs; the poor visibility of future orders, particularly in view of current economic conditions; the effects of the volume of revenue from certain sectors or programs on our margins in particular periods; our ability to secure new customers, maintain our current customer base and deliver product on a timely basis; the risk that our revenue and/or profits associated with customers who have been recently acquired by third parties will be negatively affected; the risks relative to new customers, including our arrangements with The Coca-Cola Company, which risks include customer delays, start-up costs, potential inability to execute, the establishment of appropriate terms of agreements, and the lack of a track record of order volume and timing; the risks of concentration of work for certain customers; our ability to manage successfully a complex business model; the risk that new program wins and/or customer demand may not result in the expected revenue or profitability; the fact that customer orders may not lead to long-term relationships; the effects of the current constrained supply environment, which has led and may continue to lead to periods of shortages and delays in obtaining components based on the lack of capacity at some of our suppliers to meet increased demand, or which may cause customers to increase forecasts and orders to secure raw material supply or result in our inability to secure raw materials required to complete product assemblies; raw materials and component cost fluctuations particularly due to sudden increases in customer demand; the risks associated with excess and obsolete inventory, including the risk that inventory purchased on behalf of our customers may not be consumed or otherwise paid for by customer resulting in an inventory write-off; the weakness of the global economy and the continuing instability of the global financial markets and banking system, including the potential inability on our part or that of our customers or suppliers to access cash investments and credit facilities; the effect of changes in the pricing and margins of products; the adequacy of restructuring and similar charges as compared to actual expenses; the risk of unanticipated costs, unpaid duties and penalties related to an ongoing audit of our import compliance by U.S. Customs and Border Protection; possible unexpected costs and operating disruption in transitioning programs; the potential effect of world or local events or other events outside our control (such as drug cartel-related violence in Mexico, changes in oil prices, terrorism and war in the Middle East); the impact of increased competition; and other risks detailed in the Company's Securities and Exchange Commission filings (particularly in Part I, Item 1A of our annual report on Form 10-K for the fiscal year ended October 3, 2009).
Ginger Jones, Vice President, Chief Financial Officer