Jabil Circuit, Inc. has announced an agreement to acquire Nypro Inc., a provider of manufactured precision plastic products for customers in the healthcare, packaging and consumer electronics industries, with over $1 billion in total annual revenues.
“The combination with Nypro will extend Jabil’s materials manufacturing capabilities into the healthcare and consumer packaging markets as well as add depth to our consumer electronics business," said Timothy L. Main, chairman and CEO of Jabil. “We think this is an important strategic step in Jabil’s development of engineering and capability intensive businesses. Combining Nypro’s capabilities and market presence with Jabil’s global scale and expertise should result in great things for customers, employees and investors.”
Completion of the transaction, which is subject to a shareholder vote by participants in Nypro's ESOP, as well as by Nypro's shareholders, regulatory antitrust clearances in the United States, China and other jurisdictions and certain other customary closing conditions, is currently expected to take place during Jabil’s fiscal third quarter. The total purchase price is expected to be $665 million.
Jabil is an electronic product solutions company providing comprehensive electronics design, manufacturing and aftermarket product management services to global electronics and technology industries.
Last week, Jabil’s Board of Directors named William E. Peters to the position of president and William D. Muir, Jr. to chief operating officer, effective March 1, 2013. Both current officers of Jabil have been with the company for more than 20 years.
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