KELSO, Scotland, May 10, 2011 (GLOBE NEWSWIRE) -- Plexus Corp. (Nasdaq:PLXS) is delighted to announce that its UK based customer Irisys was awarded the 2011 Queen's Award for Enterprise in the International Trade Category.
Plexus was selected by Irisys in 2007 to provide full turnkey manufacturing solutions for their people counter, queue management and thermal imaging products. Partnering with Plexus has enabled Irisys to provide assurances to end customers of producing a greater volume of product more quickly to meet growing demand in more than 50 countries worldwide, including new opportunities in North America, South America, China and Japan.
The Queen's Award recognises Irisys for boosting international trade by growing exports. This growth has been supported by leveraging Plexus global manufacturing capabilities and footprint, allowing Irisys to focus on their key R&D and marketing competencies.
Willie MacKinnon, Senior Operations Director – EMEA, at Plexus commented: "We congratulate Irisys on this prestigious award and are delighted to be their manufacturing partner. The agility that Plexus demonstrates ensures that Irisys is able to meet growing demand from their customer base. The provision of configure to order and direct order fulfilment services provides a flexible model that supports Irisys ongoing growth objectives."
Dr Ian Wilcock, Chief Operating Officer at Irisys added: "We are delighted to receive this award. It recognises Irisys' achievement over the last few years in expanding into new markets and helps in our own way in the UK's export led economic recovery. Our sales growth success would not have been possible without our manufacturing partner Plexus."
About Plexus Corp. – The Product Realization Company
Plexus () delivers optimized Product Realization solutions through a unique Product Realization Value Stream service model. This customer focused services model seamlessly integrates innovative product conceptualization, design, commercialization, manufacturing, fulfillment, and sustaining services to deliver comprehensive end-to-end solutions for customers in the America, European and Asia-Pacific regions.
Plexus is the industry leader in servicing mid-to-low volume, higher complexity customer programs characterized by unique flexibility, technology, quality and regulatory requirements. Award-winning customer service is provided to over 100 branded product companies in the Wireline/Networking, Wireless Infrastructure, Medical, Industrial/Commercial and Defense/Security/Aerospace market sectors.
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Irisys is a UK innovator in award-winning technologies that make a significant, measurable impact on business efficiency, and improve the quality of people's lives.
Irisys is a high technology manufacturing success story, exporting British technology all over the world, and regularly featuring in the Sunday Times Tech Track list of fastest growing technology companies. The company invests a double digit percentage of revenues in R&D and holds over 70 patents. One in six employees has a PhD.
The company is the global leader in people counting technologies and real time queue management solutions. Its infrared thermal imaging solutions are used by some of the world's leading retailers to boost customer service, operational efficiency and profitability. Irisys pioneered the introduction of low cost thermal imaging cameras for industrial applications, and its security technologies are predicted to transform the intruder detection market. Irisys healthcare solutions aim to make hospitals safer and cleaner, and improve home monitoring for the elderly and infirm.
The company more than doubled its revenues in 2010, both by changing the landscape of established markets and by creating entirely new areas of demand.
Plexus Safe Harbor and Fair Disclosure Statement
The statements contained in this release which are guidance or which are not historical facts (such as statements in the future tense and statements including "believe," "expect," "intend," "plan," "anticipate," "goal," "target" and similar terms and concepts), including all discussions of periods which are not yet completed, are forward-looking statements that involve risks and uncertainties. These risks and uncertainties include, but are not limited to: the risk of customer delays, changes, cancellations or forecast inaccuracies in both ongoing and new programs; the poor visibility of future orders, particularly in view of current economic conditions; the economic performance of the industries, sectors and customers we serve; the effects of the volume of revenue from certain sectors or programs on our margins in particular periods; our ability to secure new customers, maintain our current customer base and deliver product on a timely basis; the risk that our revenue and/or profits associated with customers who are acquired by third parties will be negatively affected; the particular risks relative to new customers, including our arrangements with The Coca-Cola Company, which risks include customer and other delays, start-up costs, potential inability to execute, the establishment of appropriate terms of agreements, and the lack of a track record of order volume and timing; the risks of concentration of work for certain customers; our ability to manage successfully a complex business model characterized by high customer and product mix, low volumes and demanding quality, regulatory, and other requirements; the risk that new program wins and/or customer demand may not result in the expected revenue or profitability; the fact that customer orders may not lead to long-term relationships; the effects of the current constrained supply environment, which has led and may continue to lead to periods of shortages and delays in obtaining components based on the lack of capacity at some of our suppliers to meet increased demand, or which may cause customers to increase forecasts and orders to secure raw material supply or result in our inability to secure raw materials required to complete product assemblies; raw materials and component cost fluctuations particularly due to sudden increases in customer demand; the risks associated with excess and obsolete inventory, including the risk that inventory purchased on behalf of our customers may not be consumed or otherwise paid for by customer resulting in an inventory write-off; the weakness of the global economy and the continuing instability of the global financial markets and banking system, including the potential inability of our customers or suppliers to access credit facilities; the effect of changes in the pricing and margins of products; the effect of start-up costs of new programs and facilities, including our recent and planned expansions, such as our new replacement facility in Oradea, Romania, and our plans to further expand in Penang, Malaysia, Darmstadt, Germany and Xiamen, China; the risk of unanticipated costs, unpaid duties and penalties related to an ongoing audit of our import compliance by U.S. Customs and Border Protection; possible unexpected costs and operating disruption in transitioning programs; the ability to execute the approved share repurchase program at the share price and in the timeframe we intend; the potential effect of fluctuations in the value of the currencies in which we transact business; the potential effect of world or local events or other events outside our control (such as drug cartel-related violence in Mexico, changes in oil prices, terrorism, war in the Middle East, and the earthquake and tsunami in Japan); the impact of increased competition; and other risks detailed in the Company's Securities and Exchange Commission filings (particularly in Part I, Item 1A of our annual report on Form 10-K for the fiscal year ended October 2, 2010). The anticipated April 21, 2011 closing of the debt private placement remains subject to execution of related documents and customary closing conditions.
CONTACT: For further information please contact: Willie MacKinnon Senior Operations Director - EMEA +44 (0) 1573 227054 or firstname.lastname@example.org