FOR IMMEDIATE RELEASE

 

Fabrinet Receives 2005 Best Employers in Thailand Award

Award sponsored by Hewitt Associates, the Sasin Graduate Institute of Business Administration, and the Bangkok Post

   

San Francisco, CA – May 3, 2005 – Fabrinet, an engineering and electromechanical manufacturing services company, announced the company has been chosen one of the “Best Employers in Thailand 2005” by Hewitt Associates, in conjunction with the Sasin Graduate Institute of Business Administration and the Bangkok Post.  The bi-annual award, recognizing the Top 10 employers in Thailand, is based on a region-wide employee survey compiled by Hewitt examining the links between business performance and people practices.  Fabrinet is a two-time recipient of this Top Ten designation.

The regional survey, covering organizations throughout China, Hong Kong, Malaysia, Singapore, and Thailand, is the largest of its kind in Asia. The survey ranked companies based on responses gained from employee questionnaires and interviews with chief executives. Companies were assessed on their ability to engage and motivate employees as well as align staff with strategic corporate objectives. The survey found that the top ranking companies are able to create a positive work environment and future career opportunities for staff, establish productive work processes, and build a sense of belonging among employees towards their organizations.

At the awards ceremony in Thailand on April 20, 2005, Mick Bennett, the Asia Pacific managing director for Hewitt, noted, ”One strong lesson we learned from [2005's list of] Best Employers is that they create a strong culture of celebration and recognition.''

Suranand Vejjajiva, a Prime Minister's Office minister, noted in his keynote address that the study findings showed that the top companies took a long-term view and focused on building sustainable growth. “This is by far the most important ingredient for building the competitiveness of our country,” he said. “The Best Employers, not only in Thailand but also in the entire region, are among the biggest and fastest growing companies in their countries. By developing their people, these companies are also helping to enlarge the nation's talent pool.”

“We are very proud and honored to be a two-time recipient of the Best Employers in Thailand Award,” said Fabrinet founder and CEO Tom Mitchell. “Fabrinet began operations in January 2000 with the acquisition of a 232,000 square foot facility in Bangkok, Thailand from Seagate Technology. Our goal was to leverage the precision mechanical and processing engineering skill sets of the disk drive industry into optical communications and other market segments. After five years in existence, we have almost doubled in physical size and grown our company to become the world's leading outsourced manufacturer of optical communications components and modules. This award recognizes the dedication of our highly skilled management and employees at Fabrinet. It is a testament to their past successes and future achievements.”

The Hewitt survey shows a clear linkage between financial results and HR practices. The top ranked employers boasted an average 17% gain in revenues over 2003-04, compared with 10% for other companies, as well as higher value-added figures and employee growth. The survey concludes that senior management at the Top 10 companies consistently ranks ahead of their peers in terms of communications with staff, motivational skills, credibility, and ability to provide clear guidance for the future.

About Hewitt Associates
With more than 60 years of experience, Hewitt Associates (NYSE: HEW) is the world's foremost provider of human resources outsourcing and consulting services. The firm consults with more than 2,300 companies and administers human resources, health care, payroll, and retirement programs on behalf of more than 300 companies to millions of employees and retirees worldwide. Located in 35 countries, Hewitt employs approximately 19,000 associates.

About Sasin Graduate Institute of Business Administration
Sasin Graduate Institute of Business Administration was founded by Chulalongkorn University with the support and collaboration of Kellogg School of Management and The Wharton School. This Chulalongkorn-Kellogg-Wharton management education collaboration pioneered the use of world-class visiting professors, complemented by full-time Sasin faculty and other experts in Southeast Asia . Sasin has long been recognized as the leading business school in Thailand and ranks in the top 5 in ASEAN, and top 10 in the whole of Asia , for faculty qualifications.

About the Bangkok Post
The Bangkok Post is Thailand 's leading English-language newspaper and has the highest circulation among English-language dailies in Thailand with 450,000 readers a day both in the local market and abroad.

About Fabrinet
Fabrinet is a manufacturing services company (EMS) specializing in the engineering and manufacture of complex optical, mechanical, and electronic components, modules, and subassemblies for a wide range of industries including communications, automotive & aeronautics, consumer electronics, and industrial sensing.  Fabrinet utilizes manufacturing best practices to provide rigorous IP protection, a real-time internet tracking and information system, class 100 cleanrooms, and unmatched customer responsiveness.  The company has received numerous quality and best supplier awards and has been named one of the Best Employers in Thailand for 2003 and 2005 by Hewitt Associates and has been nominated for the TCCC 9 th Annual Business Excellence Award in the category of Best Manufacturer.  Fabrinet is ISO 9001:2000, 14001, and ISO/TS 16949:2002 certified.  The company is based in Bangkok , Thailand with over 350,000 square feet of manufacturing and 3,600 employees, and maintains sales offices in the United States and Europe.  For more information contact Mark Schwartz at 925-934-2048, mschwartz@fabrinet.com, or visit the website at www.fabrinet.com.

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