Nortel Networks Done with Manufacturing6/29/2004 10:31 AM Eastern
Nortel Networks Corp. will no longer manufacture its own telecommunications equipment.
The company said Tuesday that it will contract out its remaining manufacturing work to Singapore-based Flextronics International Ltd., Reuters reported.
The deal, which extends an existing agreement, will see Flextronics take over plants in Canada and Brazil. The company also made an offer to buy Nortel plants in France and Northern Ireland.
The deal includes a four-year contract for manufacturing services and a three-year agreement for design services, according to Reuters.