Solectron Completes Acquisition of Centennial Technologies

Acquisition Adds Design, Manufacturing and Marketing Capabilities

For PC Card-Based Products



Apr 30, 2001, 01:00 ET from Solectron Corporation

    MILPITAS, Calif., April 30 /PRNewswire/ -- Solectron Corporation
 (NYSE:   SLR), the world's leading provider of electronics manufacturing and
 supply-chain management services, announced today that it has completed its
 acquisition of Centennial Technologies, Inc. (Nasdaq:   CENL).  Under the terms
 of the transaction, stockholders of Centennial received 0.542 shares of
 Solectron stock for each share of Centennial stock.  Solectron issued or
 reserved for issuance 2.96 million shares of Solectron common stock, which
 shares include the assumption of all Centennial stock options.  The
 transaction was accounted for under the purchase method of accounting and was
 structured as a tax-free reorganization.  Effective May 1, 2001, Centennial
 will no longer be traded on the Nasdaq National Market.
     (Photo:  http://www.newscom.com/cgi-bin/prnh/20001201/SLRLOGO )
     This acquisition is another step in enabling Solectron to strengthen its
 Technology Solutions Business Unit, which is headed by Ajay Shah and includes
 SMART Modular Technologies, Inc. and Force Computers, Inc. Solectron and
 Centennial originally announced their definitive merger agreement on Jan. 23.
     As a result of the transaction, Solectron gained all of Centennial's
 design, manufacturing and marketing capabilities, which include memory module
 and memory card solutions based on SRAM and flash technologies for original
 equipment manufacturers (OEMs) and end-users in markets such as
 telecommunications, data communications, mobile computing and medical.
     In addition, Solectron assumed responsibility for Centennial's
 manufacturing facility and corporate headquarters in Wilmington, Mass., and
 Centennial's sales and service offices in the United States and United
 Kingdom.
 
     About Solectron
     Solectron (www.solectron.com), the world's leading supply-chain
 facilitator, provides a full range of manufacturing and supply-chain
 management services to the world's premier high-tech electronics companies.
 Solectron's offerings include new-product design and introduction services,
 materials management, high-tech product manufacturing, and product warranty
 and end-of-life support. Solectron, based in Milpitas, Calif., is the first
 two-time winner of the Malcolm Baldrige National Quality Award for
 manufacturing.
 
     About SMART
     SMART Modular Technologies, Inc. is a wholly owned operating company
 within the Technology Solutions Business Unit of Solectron.  SMART, a leading
 independent manufacturer of memory and I/O products, offers more than
 500 products to leading OEMs in the computer, networking and
 telecommunications industries. The memory product line includes specialty and
 standard DRAM, Flash memory and SRAM modules and Flash memory cards. The I/O
 product line includes standard and custom wireless and wireline communications
 devices and modular I/O sub-systems for client-side and central office
 applications. SMART operates several specialized manufacturing and design
 facilities and has access to the worldwide manufacturing operations of
 Solectron. More information on SMART can be obtained on the Internet at
 www.smartmodulartech.com.
 
     CONTACT:  media, Robert (Bob) Kula, 408-935-5405, or
 robertkula@ca.slr.com, or analysts, Thomas Alsborg, 408-956-6614, or
 thomasalsborg@ca.slr.com, both of Solectron Corporation.
 
                      MAKE YOUR OPINION COUNT - Click Here
                http://tbutton.prnewswire.com/prn/11690X86193343
 
 

SOURCE Solectron Corporation
    MILPITAS, Calif., April 30 /PRNewswire/ -- Solectron Corporation
 (NYSE:   SLR), the world's leading provider of electronics manufacturing and
 supply-chain management services, announced today that it has completed its
 acquisition of Centennial Technologies, Inc. (Nasdaq:   CENL).  Under the terms
 of the transaction, stockholders of Centennial received 0.542 shares of
 Solectron stock for each share of Centennial stock.  Solectron issued or
 reserved for issuance 2.96 million shares of Solectron common stock, which
 shares include the assumption of all Centennial stock options.  The
 transaction was accounted for under the purchase method of accounting and was
 structured as a tax-free reorganization.  Effective May 1, 2001, Centennial
 will no longer be traded on the Nasdaq National Market.
     (Photo:  http://www.newscom.com/cgi-bin/prnh/20001201/SLRLOGO )
     This acquisition is another step in enabling Solectron to strengthen its
 Technology Solutions Business Unit, which is headed by Ajay Shah and includes
 SMART Modular Technologies, Inc. and Force Computers, Inc. Solectron and
 Centennial originally announced their definitive merger agreement on Jan. 23.
     As a result of the transaction, Solectron gained all of Centennial's
 design, manufacturing and marketing capabilities, which include memory module
 and memory card solutions based on SRAM and flash technologies for original
 equipment manufacturers (OEMs) and end-users in markets such as
 telecommunications, data communications, mobile computing and medical.
     In addition, Solectron assumed responsibility for Centennial's
 manufacturing facility and corporate headquarters in Wilmington, Mass., and
 Centennial's sales and service offices in the United States and United
 Kingdom.
 
     About Solectron
     Solectron (www.solectron.com), the world's leading supply-chain
 facilitator, provides a full range of manufacturing and supply-chain
 management services to the world's premier high-tech electronics companies.
 Solectron's offerings include new-product design and introduction services,
 materials management, high-tech product manufacturing, and product warranty
 and end-of-life support. Solectron, based in Milpitas, Calif., is the first
 two-time winner of the Malcolm Baldrige National Quality Award for
 manufacturing.
 
     About SMART
     SMART Modular Technologies, Inc. is a wholly owned operating company
 within the Technology Solutions Business Unit of Solectron.  SMART, a leading
 independent manufacturer of memory and I/O products, offers more than
 500 products to leading OEMs in the computer, networking and
 telecommunications industries. The memory product line includes specialty and
 standard DRAM, Flash memory and SRAM modules and Flash memory cards. The I/O
 product line includes standard and custom wireless and wireline communications
 devices and modular I/O sub-systems for client-side and central office
 applications. SMART operates several specialized manufacturing and design
 facilities and has access to the worldwide manufacturing operations of
 Solectron. More information on SMART can be obtained on the Internet at
 www.smartmodulartech.com.
 
     CONTACT:  media, Robert (Bob) Kula, 408-935-5405, or
 robertkula@ca.slr.com, or analysts, Thomas Alsborg, 408-956-6614, or
 thomasalsborg@ca.slr.com, both of Solectron Corporation.
 
                      MAKE YOUR OPINION COUNT - Click Here
                http://tbutton.prnewswire.com/prn/11690X86193343
 
 SOURCE  Solectron Corporation

RELATED LINKS

http://www.solectron.com