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January 9, 1997updated 05 Sep 2016 12:53pm

ICL SELLS CONTRACT MANUFACTURING BUSINESS TO ONEX

By CBR Staff Writer

ICL Plc, at one time Britain’s premiere computer manufacturer is pretty much out of manufacturing altogether following the sale of its contract manufacturing business Design to Distribution Ltd to Toronto-based conglomerate Onex Corp for a lot less than $140m. Onex bought Design to Distribution as a present for its Celestica Inc contract manufacturing subsidiary. The UK business has 2,500 employees and several manufacturing facilities around the country; annual sales are running at $560m and assets are put at $180m. Onex would say only that it paid less than 25% of annual sales. Onex bought Toronto-based Celestica last year for $750m; the company was of course formerly IBM Canada Ltd’s manufacturing operations; Design to Distribution has a five-year supply pact with ICL.

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