Wednesday, February 20, 2008
Sanmina-SCI Corp. has finally struck agreements to unload its PC division in two separate transactions to Foxconn and Lenova.
The San Jose, Calif., company said Foxconn Technology Group, the world's largest EMS provider, agreed to purchase some assets of its personal computing division and other related logistics services in Europe and North America through its Foxteq Holdings subsidiary for between $80 million and $90 million.
China's Lenovo Group Ltd. meanwhile, has also entered into an agreement to purchase Sanmina-SCI's Monterrey, Mexico, PC operation, the company said in a statement.
It did not disclose terms of the Lenovo transaction although the two agreements and other undisclosed but related events should net Sanmina-SCI $200 million or more, according to company chairman and CEO Jure Sola.
The sales agreement to Foxteq is expected to close sometime during Sanmina-SCI's fiscal third quarter ending June 30, the company said.
By: DocMemory
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