Nortel Closes Flextronics Deal…Finally.

Nearly two years after the deal was originally announced, Nortel has completed the sale of its manufacturing operations to Flextronics with the transfer of a 600-employee facility in Calgary. Nortel expects to get $575-million to $625 million for the assets – of which $380-million has already been received. Flextronics expects to generate about $2.5-billion of sales from the plants.

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