Motorola, Celestica in Supply Deal

Electronics manufacturer Celestica Inc. and technology giant Motorola Inc. said they struck a supply agreement worth more than $1 billion over a three-year period. Under the terms of the agreement, Motorola will sell its manufacturing operations in Dublin, Ireland, and Mt. Pleasant, Iowa, to Toronto-based Celestica for $70 million. Motorola will also outsource the manufacturing of some mobile phone handsets, messaging devices, two-way radio products and related accessories to Celestica for at least three years at the Mt. Pleasant facility and two years at the Dublin plant. Motorola fell $1.19 to close at $17.81, while Celestica rose $3.19 to close at $62.81, both on the New York Stock Exchange.