Celestica, Inc.

Celestica Inc. is a Canadian multinational design, manufacturing, hardware platform, and supply chain electronics manufacturing services (EMS) company headquartered in Toronto, Ontario. The company operates in 50 sites across 15 countries.

History

Celestica was incorporated in 1994 as a subsidiary of IBM. In 1996, it was sold off to Onex Corporation.
In April 2001, the company announced it was laying off 3,000 people, about 10% of its workforce, due to the dot-com crash. Losses mounted and on 29 January 2004 the company announced that company CEO Eugene Polistuk would be retiring. In April 2004, Stephen Delaney took over as CEO in a temporary capacity.

CEO Craig Muhlhauser announced his retirement in October 2014. Rob Mionis took over from him on 1 August 2015.

1998 Initial Public Offering (IPO)

On June 29, 1998, Celestica began its initial public offering (IPO) and agreed to sell 20.6 million shares at a price of US$17.50.

Acquisition history

*In 1997, Celestica established its presence in Europe with the acquisition of Design-to-Distribution (D2D) Limited, an International Computers Limited (ICL) company that was the largest European-based EMS company. The same year, Celestica announced its first U.S.-based acquisition: Hewlett-Packard's Fort Collins, Colorado printed circuit assembly (PCA) operation.

* In January 1998, Celestica established its first manufacturing presence in Mexico by acquiring Lucent's manufacturing facility in Monterrey, Mexico. The following month, the company expanded its European footprint by acquiring Madge Networks' Dublin, Ireland operation. Also in 1998, acquired IMS (International Manufacturing Services) to establish manufacturing operations in Japan, Thailand, Hong Kong, and China.

* In 2000, Celestica acquired IBM's facilities in Vimercate and Santa Palomba, Italy and a facility in Rochester, Minnesota.

* In 2001 Celestica acquired Omni Industries, expanding the company’s presence in China, Malaysia and Singapore.

* In 2012 Celestica acquired D&H Manufacturing Company, a leading manufacturer of precision machined components and assemblies.

* In 2018, Celestica acquired Atrenne Integrated solutions and Impakt.

Social and environmental responsibility

In 2021, Celestica committed to the UN Global Compact corporate responsibility initiative and its principles in the areas of human rights, labor, the environment, and anti-corruption. Celestica adopted the UN Sustainable Development Goals (SDGs) as part of its sustainability strategy and corporate social responsibility programs. The goals promote strategies to address poverty, inequality, climate change, environmental degradation, peace, and justice.

Awards and recognition

Celestica has been the recipient of the following awards:
* The Corporate Knights, Best 50 Corporate Citizens (years: 2022, 2021, 2019, 2017, 2016, 2015).
* The Global 100 Most Sustainable Corporations in the World, Corporate Knights (years: 2019, 2016, 2015).
* Lam Research, Supplier Excellence Award (2020).
* Clean 16 Leadership in Greenhouse Gas Emissions Reductions (2021).
* Clean 50 Top Project: Recognition for Environmental Protection and Recycling Practices (2021)"Decommissioning HQ & Manufacturing Operations: Celestica"
''Clean50'', 2021.

References

Notes

Bibliography

* David Einstein

''Forbes'', 12 December 2000
* Robert McGarvey

''Upside'', February 2000

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Companies listed on the New York Stock Exchange
Companies listed on the Toronto Stock Exchange
Electronics companies of Canada
Manufacturing companies based in Toronto
Canadian companies established in 1994
Electronics companies established in 1994
Multinational companies headquartered in Canada
1998 initial public offerings
Onex Corporation