NEC and Celestica Enter Supply Agreement

On January 8, 2002, NEC Corporation and Celestica Inc. jointly announced that they agreed to expand their strategic outsourcing relationship by entering into a supply agreement that would provide Celestica with additional total estimated revenue of approximately US$2.5 billion over its five-year term. Under the agreement, Celestica will acquire two of NEC’s advanced manufacturing facilities in Japan which are engaged in the development and manufacturing of advanced optical transmission systems.

For assistance in negotiating the principal agreements relating to the transaction, Celestica turned to Berl Nadler, Sarbjit Basra and Richard Corley of Davies Ward Phillips & Vineberg LLP in Toronto who were supported by Gray Taylor and Alexandria Pike of Davies on environmental matters and Hiroki Inoue and Shintaro Takai of Nagashima Ohno & Tsunematsu in Tokyo for Japanese legal advice. NEC was represented by Gary Smith and Sarah Iles of the Tokyo office of O’Melveny & Myers LLP.