February 20, 2013
NEENAH, WI, February 20, 2013 - Plexus Corp. (PLXS), today announced it has entered into a strategic agreement with U.S.R. Electronic Systems (1987) LTD. (USR). Headquartered in Karmiel, Israel, USR is a leading Electronic Manufacturing Services (EMS) provider with a robust engineering and manufacturing presence. USR will partner with Plexus to support the needs of Plexus` customers requiring manufacturing and engineering solutions within Israel. Plexus will broaden services to USR`s customer base, providing Product Realization solutions in locations in which USR does not currently operate, including the North American, European and Asia-Pacific regions.
Michael Verstegen, Plexus Senior Vice President of Global Market Development, commented, "This strategic agreement expands and strengthens our ability to support the unique demands of our customers requiring an Israeli solution. USR`s focus on quality and reliability, encompassed with lean manufacturing principles, complements Plexus` business principles. The management staff at USR and its vision for servicing the Israeli market align with Plexus and our focus on servicing the needs of mid-to-low volume, higher complexity programs."
Eddie Guez, USR Chief Executive Officer, commented, "Plexus` global capabilities afford our customers new and expanded abilities to bridge their markets across the world. Plexus is an industry leader, recognized for their unique Product Realization Value Stream solutions that provide their customers competitive differentiation. We are excited at the prospective opportunities this agreement will bring to USR and our customers."
For further information, please contact:
Michael Verstegen - Senior Vice President of Global Market Development
920-751-3236 or firstname.lastname@example.org
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.
About U.S.R. Electronic Systems (1987) LTD.
USR is a privately owned company, with over 700 professional employees servicing many customers worldwide. The company operates out of 3 sites in Israel: manufacturing at two advanced factory sites in Karmiel and Jerusalem, and R&D, Engineering and mechanical design in Tel Aviv.
USR is capable of high quality and quick turn-around time, and manufacturing for large quantities as well as small designated quantity for start-ups. The slogan - "Devoted partners for Turn-key solutions", reflects vast capabilities from initial designing and prototype phase all the way to delivery to the end client, and literally positions USR as the ideal partner for any EMS turn-key project.
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 success of the Plexus and USR relationship in attracting business or fulfilling customer requirements, 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 on Plexus of Juniper Network, Inc.`s (Juniper`s) intended disengagement, including limited visibility as to Juniper`s demand during the transition and the timing of disengagement; 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 and the continuing instability of the global financial markets and banking system, including the potential inability of our customers or suppliers to access credit facilities; 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 announced plans to replace facilities in Romania and the United States, and other recent, planned and potential future expansions; 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 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 September 29, 2012)