Celestica

Celestica Inc.

Type	Public
Traded as	TSX: CLS NYSE: CLS
Industry	Electronics
Founded	1994 by IBM
Headquarters	Toronto, Ontario, Canada
Key people	Rob Mionis (CEO)
Revenue	US$ 7.25 billion (2022)[1]
Net income	US$ 145.5 million (2022)[1]
Total assets	US$ 5.268 billion (2022)[1]
Total equity	US$ 1.678 billion (2022)[1]
Number of employees	28,000 (2018)[citation needed]
Parent	Onex Corporation
Website	www.celestica.com

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. ^[2]

History

Celestica was incorporated in 1994 as a subsidiary of IBM.^[3] 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.^[4] 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.^[5]

CEO Craig Muhlhauser announced his retirement in October 2014. Rob Mionis took over for him on 1 August 2015.^[6]

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.^[7]

Acquisition History

• In 1997, Celestica established its presence in Europe with the acquisition of Design-to-Distributionn (D2D) Limited, an International Computers Limited (ICL) company that was the largest European-based EMS company.^[8] The same year, Celestica announced its first U.S.-based acquisition: Hewlett-Packard's Fort Collins, Colorado printed circuit assembly (PCA) operation. ^[9]

• In January 1998, Celestica established its first manufacturing presence in Mexico by acquiring Lucent's manufacturing facility in Monterrey, Mexico.^[10] The following month, the company expanded its European footprint by acquiring Madge Networks' Dublin, Ireland operation.^[11] Also in 1998, acquired IMS (International Manufacturing Services) to establish manufacturing operations in Japan, Thailand, Hong Kong, and China.^[12]

• In 2000, Celestica acquired IBM's facilities in Vimercate and Santa Palomba, Italy and a facility in Rochester, Minnesota.^[13]

• Celestica acquired Omni Industries, expanding the company’s presence in China, Malaysia and Singapore.^[14]

• Celestica acquired D&H Manufacturing Company, a leading manufacturer of precision machined components and assemblies in 2012.^[15]

• In 2018, Celestica acquired Atrenne Integrated solutions and Impakt.^[16]

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. ^[17] 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. ^[18]

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).^[19]
• The Global 100 Most Sustainable Corporations in the World, Corporate Knights (years: 2019, 2016, 2015).^[20]
• Lam Research, Supplier Excellence Award (2020).^[21]
• Clean 16 Leadership in Greenhouse Gas Emissions Reductions (2021).^[22]
• Clean 50 Top Project: Recognition for Environmental Protection and Recycling Practices (2021)^[23]

References

Notes

Bibliography

• David Einstein, "Top Tech Execs: Eugene Polistuk", Forbes, 12 December 2000
• Robert McGarvey, "Outsourcers Rise Again", Upside, February 2000

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