Nypro Shareholders Approve Plan to Merge with Jabil
CLINTON, Mass. -- April 02, 2013
The Employee Stock Ownership Plan (ESOP) participants and shareholders of
Nypro Inc. have voted overwhelmingly to approve the transaction with Jabil
Circuit, Inc. (NYSE:JBL). The vote was announced at a special meeting of
shareholders this morning at Nypro headquarters in Clinton.
Nypro’s President & CEO Ted Lapres made the announcement, noting, “more than
98 percent of the outstanding voting shares of Nypro were cast in favor of the
merger.” Courtney Ryan, Jabil’s Senior Vice President, Global Business Units,
who will assume a leadership role in the combined Nypro-Jabil operations,
said, “This is an exciting day for Jabil and we are thrilled at the
overwhelmingly positive response from Nypro’s employee shareholders.”
The transaction will be finalized once all remaining closing conditions,
primarily the receipt of applicable anti-trust approvals, have been completed.
Antitrust approvals have been received in the United States, Russia and
Germany and are pending in China, Mexico and Hungary. Approvals are currently
anticipated to be received during Jabil's fourth fiscal quarter.
With facilities in 30 countries, Jabil is an electronic product solutions
company providing comprehensive electronics design, manufacturing and
aftermarket product management services to global electronics and technology
companies. Jabil is based in St. Petersburg, Florida and employs 165,000
Nypro is a global leader in plastics manufacturing with 12,000 employees in 10
countries, serving the healthcare, packaging and consumer electronics markets.
FORWARD LOOKING STATEMENT:This news release contains forward-looking
statements, including those regarding Mr. Ryan's assumption of a leadership
role in the combined Nypro-Jabil operations; the finalization of the merger;
and the expectation that all government approvals will be obtained during
Jabil's fourth fiscal quarter. The statements in this news release are based
on current expectations, forecasts and assumptions involving risks and
uncertainties that could cause actual outcomes and results to differ
materially. These risks and uncertainties include, but are not limited to: the
transaction failing to close for any reason, including a failure to obtain the
remaining regulatory antitrust clearances; a delay in closing; financing for
the transaction not occurring as anticipated; changes in our strategy
regarding the combined Nypro-Jabil operations, particularly the leadership of
such operations; the post-acquisition performance of Nypro; Nypro having
potential unanticipated liabilities; other factors that we may not have
currently identified or quantified; and other risks, relevant factors and
uncertainties identified in our Annual Report on Form 10-K for the fiscal year
ended August31, 2012, subsequent Reports on Forms 10-Q and 8-K and our other
securities filings. Jabil disclaims any intention or obligation to update or
revise any forward-looking statements, whether as a result of new information,
future events or otherwise.
Jabil Circuit, Inc.
Investor & Media Contact:
Beth Walters, 727-803-3511
Senior Vice President, Investor Relations & Communications
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