On September 30, 2004, Celestica Inc. announced that it had completed the divestiture of its Power Systems business to C&D Technologies, Inc., a leading global provider of solutions for power conversion and storage of electrical power in an all-cash transaction valued at U.S.$52.8 million.  Celestica's Power Systems operations were conducted in Canada, the United States, the Peoples' Republic of China and Thailand, among other jurisdictions.  In connection with the sale of the Power Business assets, Celestica and C&D Technologies entered into a three-year supply agreement pursuant to which Celestica will manufacture certain power products for C&D Technologies.

Celestica was represented by Todd Melendy, Vice-President and Assistant General Counsel, assisted by Davies Ward Phillips & Vineberg, with a team that comprised Berl Nadler, Melanie Koszegi, Claire Kennedy, Sarb Basra, Tarne Whiteley, Alex Pike (environmental), Darren Wasylucha and Ivana Gotzeva (Toronto) and Gerald Shepherd, Harold Adrion and Pamela Goldfarb (New York).