Sanmina Authorizes Repurchase of Up to 5 Percent of Company's Shares Outstanding

Sep 17, 2001, 01:00 ET from Sanmina Corporation

    SAN JOSE, Calif., Sept. 17 /PRNewswire/ -- Sanmina Corporation
 (Nasdaq:   SANM), a leading electronics contract manufacturer, announced today
 that its board of directors has authorized the repurchase of up to 5% of its
 total outstanding common shares.
     "Management and the board of directors believe the stock repurchase plan
 is a good investment and is in the best interest of our shareholders," said
 Jure Sola, Sanmina's chairman and chief executive officer.  "The long-term
 fundamentals of the manufacturing services industry are intact and we are
 confident of our growth prospects due to our leading-edge technology,
 financial strength and full service manufacturing capabilities."
     Repurchases may be made from time-to-time, in the open market, through
 block trades or otherwise.
     Company Profile
     Founded in 1980, Sanmina Corporation ( provides a
 cost-efficient, design and manufacturing solution to the world's leading
 original equipment manufacturing (OEMs) in the communications, medical,
 industrial instrumentation, and high-end computer sectors.  Sanmina's complete
 end-to-end solution includes design, engineering, circuit fabrication or bare
 printed circuit boards, circuit board and backplane order fulfillment, and
 end-of-life product services.  OEMs benefit from this model by dealing with a
 single-source supply-chain and global supply-base, which helps them achieve
 cost efficiencies in material acquisition as well as flexibility to reduce
 lead times.
     Safe Harbor Statement
     The foregoing, including the discussion regarding the company's future
 prospects contain certain forward-looking statements that involve risks and
 uncertainties, including uncertainties associated with economic conditions in
 the electronics industry, particularly in the principal industry sectors
 served by the company, changes in customer requirements and in the volume of
 sales to principle customers, the ability of the company to assimilate
 acquired business and to achieve the anticipated benefits of such
 acquisitions, and competition and technological change.  The company's actual
 results of operations may differ significantly than those contemplated by such
 forward-looking statements as a result of these and other factors, including
 factors set forth in the company's 2000 Annual Report on Form 10-K filed with
 the Securities Exchange Commission on December 18, 2000, and the company's
 most recent quarterly 10-Q Report dated August 10, 2001.
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SOURCE Sanmina Corporation