Celestica, the world's third largest electronics company which employs 260 people in Swords, Co Dublin, has announced the $160 million (£107 million) takeover of International Manufacturing Services, a California-based electronics manufacturing company.

The US-based Celestica is currently trebling the number of its Irish employees as part of a five-year, £26 million expansion plan for its printed circuit assembly operations.

The general manager of Celestica Ireland Mr Don O'Callaghan said the Irish expansion programme, which formed part of Celestica's plans in Europe, remained on track.

International Manufacturing Services, has a large Asia presence, with manufacturing operations in Thailand, Hong Kong and China, employing a total of 3,600 worldwide. Celestica's turnover for the nine months to September 30th was $2.3 billion, representing a 76 per cent increase on the equivalent period in 1997. Its pre-tax profit for the period was $161 million, compared to $91 million last year.