MILPITAS, Calif., Nov. 28 /PRNewswire/ -- Solectron Corporation
(NYSE: SLR), the world's leading provider of electronics manufacturing and
supply-chain management services, announced that its stockholders approved the
issuance of shares of Solectron common stock to shareholders of
C-MAC Industries Inc. to complete Solectron's acquisition of C-MAC. The
results of the vote were announced today at its special meeting of
stockholders held at its corporate headquarters.
(Photo: http://www.newscom.com/cgi-bin/prnh/20001201/SLRLOGO )
Solectron will indirectly acquire all of C-MAC's outstanding shares and
C-MAC will thereby become an indirect subsidiary of Solectron. Each
C-MAC common share will be exchanged for 1.755 shares of Solectron common
stock, 1.755 shares of a Canadian subsidiary of Solectron that are
exchangeable for shares of Solectron common stock or a combination of both.
Completion of the combination remains conditional on obtaining a final
order from the Superior Court of Quebec and the satisfaction or waiver of all
other customary closing conditions. A Superior Court of Quebec hearing will
take place Thursday, Nov. 29, 2001, and closing is expected within the next
week.
Safe Harbor
This release contains forward-looking statements within the meaning of
Section 27A of the Securities Act of 1993, as amended, and Section 21E of the
Securities Exchange Act of 1934, as amended, regarding the business
combination of Solectron and C-MAC, which, based on current expectations,
involves a number of risks and uncertainties, including the satisfaction or
waiver of all conditions to closing set forth in the combination agreement
between Solectron and C-MAC. For a further list and description of risks and
uncertainties related to the combination, see the Registration Statement on
Form S-4 (Registration No. 333-69182) filed by Solectron with the Securities
and Exchange Commission.
About Solectron
Solectron (http://www.solectron.com) provides a full range of global
manufacturing and supply-chain management services to the world's premier
high-tech electronics companies. Solectron's offerings include new-product
design and introduction services, materials management, high-tech product
manufacturing, and product warranty and end-of-life support. Solectron, the
first two-time winner of the Malcolm Baldrige National Quality Award, has a
full range of industry-leading capabilities on five continents. Its
headquarters are in Milpitas, Calif.
CONTACT: Analysts, Thomas Alsborg, +1-408-956-6614 (U.S.), or
thomasalsborg@ca.slr.com, or Media, Kimi Nishita, +1-408-956-6213 (U.S.), or
kiminishita@ca.slr.com, both of Solectron Corporation.
SOURCE Solectron Corporation
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Related links: http://www.solectron.com
Photo Notes: NewsCom: http://www.newscom.com/cgi-bin/prnh/20001201/SLRLOGO AP Archive: http://photoarchive.ap.org PRN Photo Desk, 1-888-776-6555 or +1-212-782-2840
CONTACT: Analysts, Thomas Alsborg, +1-408-956-6614 (U.S.), or thomasalsborg@ca.slr.com, or Media, Kimi Nishita, +1-408-956-6213 (U.S.), or kiminishita@ca.slr.com, both of Solectron Corporation
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