Celestica Inc.

Headquartered in Toronto, Ontario in Canada, Celestica Inc. is a part-Canadian and part-American company widely viewed as an international leader in design, engineering, manufacturing, and supply chain solutions. The company’s stated mission is to solve complex technological challenges for the world’s best brands, while its stated values are that of teamwork, ingenuity, confidence, and care. Celestica maintains a presence in over 50 locations across the globe and corporate offices in 15 countries throughout North America, Europe, and Asia.

History

Celestica Inc. began life in 1994 as a subsidiary of IBM, specializing in electronics manufacturing services (EMS). Within two years, it was sold to Onex Corporation, marking its transition into an independent company. From that point, Celestica quickly expanded, and by 1997, it had established a strong presence in Europe by purchasing the company Design-to-Distribution Limited, and in the USA by acquiring Hewlett-Packard’s printed circuit assembly facility in Colorado.

The following year, Celestica notched a major milestone by completing its initial public offering (IPO), raising $414 million, which at the time, set the record for the largest EMS IPO in history. Hot on the heels of this, the company expanded into Mexico when it bought a manufacturing facility from Lucent, and then further into Europe when it bought Madge Networks’ Dublin operation. Moving quickly, Celestica’s reach became truly global in the late 1990s when it acquired International Manufacturing Services, which allowed it to establish footholds in Japan, Thailand, and China.

In 2000, Celestica acquired a substantial number of IBM’s facilities in Italy and the United States, and formed an alliance with Motorola for the purpose of manufacturing wireless telecom products. In 2001, it acquired Omni Industries, extending its reach in Southeast Asia, specifically Malaysia and Singapore.

However, as was the case with many companies operating in the EMS sphere, the dot-com crash of the early 2000s posed challenges for Celestica, and ultimately led to layoffs. In 2004, Stephen Delaney took over as temporary CEO. Under his leadership, the company purchased Manufacturers’ Services Limited, somewhat offsetting the negative effects of the years-long market downturn.

From 2005 onward, Celestica pursued an aggressive policy of strategic acquisitions to enhance its services and improve the capabilities of its corporate network. It procured Displaytronix for flat-panel display repair services and CoreSim for advanced design analysis. In 2012, the acquisition of D+H Manufacturing bolstered its ability to produce components for the semiconductor industry.

Throughout its existence, Celestica has been committed to sustainability, and has been singled out for its eco-friendly practices multiple times. In 2015, the Carbon Disclosure Project, a renowned international environmental nonprofit, identified Celestica as a Canadian leader in climate change disclosure. The company has repeatedly been named to the ‘Global 100 Most Sustainable Corporations Index’, and has also received numerous awards for operational excellence from organizations like Lam Research, Mediacorp Canada, and Waterstone Human Capital.

In 2021, Celestica signed on to the United Nations’ Global Compact corporate responsibility initiative, adopting its sustainable development goals, which address issues such as poverty, inequality, and climate change.

Products and Services

Celestica makes a broad range of high-precision and complex products, including servers, medical devices, aerospace and defence equipment, telecom infrastructure, renewable energy hardware, and semiconductor components. The services it offers include product design and development, supply chain management, procurement and sourcing, and product lifecycle support, among others.

Financial Performance

Celestica Inc. has consistently reported strong financial performance, with revenues averaging between $5 billion and $6 billion annually in recent years.