ST. PETERSBURG, FL -- Top Tier EMS provider Jabil Circuit will take a $120.2 million fourth-quarter restructuring charge as it prepares to close certain plants, according to a company SEC filing. While industry speculation has centered on the possible closing of one to two plants in the U.S., the filing was not specific but implied that certain changes would take place abroad.

In the filing Jabil said it would take $81.2 million in charges for employee severance and benefit costs, contract termination costs and other related restructuring costs. The company will take further charges of $35.6 million for material impairment costs and $3.4 million for fixed asset impairment costs.

The exact timing of the remaining estimated range of restructuring and impairment costs, as well as the remaining estimated cost ranges by category type, have not been finalized. Jabil said that restructuring decisions at certain foreign plants are still subject to consultation with employees and their representatives.

The company had announced in July that it would take charges of $200 million to $250 million between its fourth fiscal quarter and throughout fiscal 2007.

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