Coinstar (CSTR) Working with Flextronics to Transition Redbox Manufacturing to Alternate Plant

January 31, 2013 5:01 PM EST
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Coinstar, Inc. (NASDAQ: CSTR) issued a statement to in response to reports Flextronics is closing its Creedmor, North Carolina plant, the primary manufacturing facility of Redbox kiosks since 2004. The company said they have been aware of the closure and have been working with Flextronics to transition to an alternate plant in the U.S.. The company remains committed to the Redbox business.

Company Statement:
Coinstar is aware of the Flextronics Creedmoor plant anticipated closing and has been working closely with Flextronics management to ensure a smooth transition to an alternate plant with existing operations in the United States. We are comfortable that Flextronics will continue to meet our production needs at the facility they are moving the production to.

Coinstar is committed to the Redbox business. With a network of more than 42,000 kiosks, Redbox continues to be America's destination for movie rentals. Our kiosks remain an important vehicle for consumers to access affordable entertainment and we're pleased to offer new products that provide even more value at the kiosk."

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