Celestica Inc.
TypePublic
TSX: CLS
NYSE: CLS
IndustryElectronics
Founded1994 by IBM
HeadquartersToronto, Ontario, Canada
Key people
Rob Mionis (CEO)
RevenueIncrease US$ 7.25 billion (2022)[1]
Increase US$ 145.5 million (2022)[1]
Total assetsIncrease US$ 5.268 billion (2022)[1]
Total equityIncrease US$ 1.678 billion (2022)[1]
Number of employees
28,000 (2018)
ParentOnex Corporation
Websitewww.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

  1. 1 2 3 4 "Celestica Announces Fourth Quarter 2022 Financial Results". Bloomberg. 25 January 2023. Retrieved 7 February 2023.
  2. ↑ , "Wall Street Journal", 2 October 1996
  3. ↑ "History and Milestones". Celestica. Retrieved 27 February 2023.
  4. ↑ "Celestica, Inc. Raises Earnings Outlook; Announces Job Cuts", 18 April 2001
  5. ↑ "Polistuk leaves Celestica", CBC News, 28 January 2004
  6. ↑ The Canadian Press, Celestica. "Celestica names Robert Mionis as new CEO; takes over from Craig Muhlhauser". Canadian Business. Retrieved 8 July 2015.
  7. ↑ "CELESTICA UPS TOTAL FROM IPO", Tech Monitor, 12 July 1998
  8. ↑ "ICL sheds manufacturing arm D2D", ZDNET, 21 January 1997
  9. ↑ "Fort Collins plucks high-tech plum", Denver Business Journal, 17 August 1997
  10. ↑ "Celestica enters Brazil, Malaysia" EE Times, 23 June 1999
  11. ↑ "Madge bought by Celestica" Independent.ie, 23 February 1998
  12. ↑ "IMS reports loss as company prepares for acquisition by Celestica" EDN, 24 November 1998
  13. ↑ "Celestica, IBM sign $1.5B outsourcing deal" EDN, 12 January 2000
  14. ↑ "Celestica to Buy Omni Industries In Deal Worth About $890 Million" Wall Street Journal, 18 June 2001
  15. ↑ "Onex-Backed Celestica Buys D&H Manufacturing" Wall Street Journal, 10 September 2012
  16. ↑ "Celestica gains slice of growing OLED display market with $330-million deal for U.S. manufacturer" The Globe and Mail, 10 October 2018
  17. ↑ "Our Participants" "United National Global Compact"
  18. ↑ "The 17 Goals" "United Nations Sustainable Development Goals"
  19. ↑ "Canada's Best 50 corporate citizens of 2022 continue to conquer the markets" The Corporate Knights, 29 June 2022
  20. ↑ "2019 Global 100 results" The Corporate Knights, 22 January 2019
  21. ↑ "Celestica Receives 2020 Supplier Excellence Award from Lam Research" Canada Electronics Assembly, 1 November 2020
  22. ↑ "The Clean16 awards" Clean50, 2021
  23. ↑ "Decommissioning HQ & Manufacturing Operations: Celestica" Clean50, 2021.

Bibliography

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