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Plexus to Triple in Size

12/18/2013

Plexus Corp. Enhances Microelectronics Solution Offering by Expanding Capabilities in Boise, Idaho

Plexus | Click here for original post on Yahoo Finance/Thomson Reuters

Plexus` Boise Microelectronics Center of Excellence to triple in size, further enabling product miniaturization solutions.

NEENAH, WI, December 5, 2013 - Plexus Corp. (PLXS), a global provider of optimized Product Realization solutions, today announced a $3 million investment to expand operations in it`s Boise Microelectronics Center of Excellence in Nampa, Idaho.  This investment will triple the size of the ISO 7, Class 10,000 compliant, cleanroom facility and upgrade specialized manufacturing equipment. 

Todd Kelsey, Executive Vice President and Chief Operating Officer, commented, "The sophistication and complexity of our customers` products continue to evolve.  One example of this evolution is the incorporation of microelectronics to reduce size while enhancing functionality.  Plexus` investment in our Microelectronics Center of Excellence further augments our ability to provide product miniaturization solutions developed over the past 10 years.  Our microelectronics manufacturing expertise, combined with the remainder of our unique Product Realization Value Stream services, creates competitive advantages for our customers as they incorporate complex technologies within their products."

Andy Edgin, Microelectronics Business Director, commented, "The expansion of our microelectronics capability not only increases our capacity to meet our customers` demands, but also includes equipment upgrades that enhance our service offering.  With this investment, we are implementing continuous flow manufacturing methods directly within the cleanroom and increasing the speed and accuracy of our equipment to align with the latest microelectronics technologies.  In addition to our investment in facilities and equipment, we continue to enhance our team`s capabilities by adding talented engineering and technical resources that align with our product development engineers to offer a full suite of solutions.  These changes will deliver significant gains in efficiencies and provide additional flexibility for our customers."

As a committed partner to the communities in which Plexus operates, the local contractor, Stock Construction Management Services, has been selected to execute the microelectronics construction project.  Construction of the facility expansion has begun with expected completion during the fiscal second quarter of 2014.

For further information, please contact:

Susan Hanson, Branding and Market Communications Manager
920-751-5491 or susan.hanson@plexus.com

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 America, 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 140 branded product companies in the Networking/Communications, Healthcare/Life Sciences, Industrial/Commercial and Defense/Security/Aerospace market sectors.

Safe Harbor and Fair Disclosure Statement
The statements contained in this press release that are 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) are forward-looking statements that involve risks and uncertainties. These risks and uncertainties include the risk that the microelectronics expansion will not be implemented successfully and the risk that these capabilities will not fulfill customer expectations or lead to increased microelectronics revenue.  Other risks and uncertainties include 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 changing economic conditions; the adequacy of restructuring and similar charges as compared to actual expenses; the economic performance of the industries, sectors and customers we serve; 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 particular risks relative to new or recent customers or programs, which risks include customer and other 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 characterized by high customer and product mix, low volumes and demanding quality, regulatory, and other requirements; 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 shortages and delays in obtaining components as a result of economic cycles or natural disasters; 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 the customer, resulting in an inventory write-off; the weakness of areas of the global economy; the effect of changes in the pricing and margins of products; the effect of start-up costs of new programs and facilities, such as our new facilities in China, Romania and the United States, our announced plans to open a new facility in Mexico and our other recent, planned and potential future expansions or replacements; increasing regulatory and compliance requirements; possible unexpected costs and operating disruption in transitioning programs; raw materials and component cost fluctuations; the potential effect of fluctuations in the value of the currencies in which we transact business; the potential effects of regional results on our taxes and ability to use deferred tax assets; 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 weather events); the impact of increased competition; and other risks detailed in our Securities and Exchange Commission filings (particularly in "Risk Factors" in our fiscal 2013 Form 10-K).

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