ST. PETERSBURG, FL — Jabil Circuit's Italian subsidiary will acquire the manufacturing operations of Nokia Siemens Networks Italy in Cassina de’ Pecchi and Marcianise in a deal expected to close Nov. 1. European Union antitrust authorities have signed off on the deal, which will also include a long-term manufacturing agreement.

Jabil expects to generate $500 million worth of revenue over the first 12 months, the company said in a Securities and Exchange Commission filing.

Under the agreement, Jabil will assume the plants, contracts and employees. The value of the machinery, equipment and inventory Jabil expects to acquire is about $57 million, the SEC filing said.

The Marcianise site employs 335 workers and builds GSM and Edge Radio Access units; the Cassina site employs 277 staff and manufactures microwave devices for wireline and wireless networks.

Jabil already builds for Nokia Siemens Networks' parent company.

“The signature of this agreement confirms a long-term partnership, which will offer Nokia Siemens Networks the opportunity to compete in the highly complex and competitive telecommunication market and optimize overall manufacturing capabilities in a time when global competition results in intense cost pressure,” said Herbert Merz, Nokia Siemens Networks' head of operations. “Moreover, we are also able to preserve the whole value chain in Italy, securing important high-tech manufacturing jobs while achieving flexibility for our future development.”