Wednesday, November 29, 2006

Celestica could be sold by Onex, analyst says - report

Celestica, the listed Canadian electronic manufacturing services firm, could be sold if its new CEO does not quickly turn things around, noted the Globe and Mail.
Steven Fox, an analyst with Merrill Lynch, was cited in the report as saying that Onex, which owns Celestica, could opt to sell the company, if the new CEO is unable to deliver. Craig Muhlhauser, chief executive of the company, acknowledged in the report that he understands the importance of fixing up the company sooner rather than later.
Celestica's market value is around USD 2.4bn.


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