Celestica
From Wikipedia, the free encyclopedia
| Celestica | |
 |
|
| Type | Public NYSE: CLS, TSX: CLS.SV |
|---|---|
| Founded | 1994 |
| Headquarters | Toronto, Ontario |
| Key people | Stephen Delaney(CEO) |
| Industry | Electronics |
| Products | Personal computers and peripherals, networking and telecommunications equipment, and automotive, aerospace and defence electronics |
| Revenue | $ 8.47 billion USD (2005)[1] |
| Net income |  $42.8 million USD (2005) |
| Employees | 47,000[2] |
| Parent | Onex Corporation |
| Website | www.celestica.com |
Celestica Inc. (TSX: CLS.SV NYSE: CLS), based, in Toronto, Ontario, Canada, is an electronics manufacturing services company. Its products include personal computers and peripherals, networking and telecommunications equipment, and autmotive, aerospace, and defence electronics. Celestica's major customers include IBM, Cisco Systems and Juniper Networks.
Contents |
[edit] History
Celestica was incorporated as a wholly owned subsidiary of IBM in January 1994. Onex Corporation acquired Celestica in October 1996 and controls approximately 80% of the company's voting shares.
[edit] Operations
In recent years, Celestica has gone through five rounds of "restructuring" and has eliminated over 27,000 employees.[3]. In one of the most recent reorganizations in 2005, Celestica eliminated most internal IT operations and outsourced them to IBM India. Other changes include reductions in retirement benefits, and the elimination of some people from eligibility for its bonus payments. (Currently one must be employed when the bonus is paid out to receive it. Before this one only had to be employed up to the end of the fiscal year.)
In January 2006, Microsoft's Major Nelson (and various news outlets) reported that Celestica would begin manufacturing Xbox 360 hardware in February 2006.
Celestica is a heavy user of Adecco manpower, moving away from full-time staff. This results in monetary savings by not having to pay benefits, etc. It also makes for a workforce more fitting the turbulent outlook Celestica has been facing.
[edit] External links
- Company Website
- EMS Research On Celestica, Flextronics, Foxconn, Solectron, Sanmina - Trends, Forecasts, Competitive Analysis
[edit] References
- ^ CLS: Income Statement. Retrieved on 2006-06-29.
- ^ CLS: Profile for Celestica. Retrieved on 2006-06-29.
- ^ Avery, Simon. "Celestica says bad run nearing end", Globe and Mail, 2006-04-27. Retrieved on 2006-06-29.
