Plexus Provides Update on Unverified List Removal
NEENAH, WI, Dec. 27, 2023 (GLOBE NEWSWIRE) — Plexus Corp. (NASDAQ:PLXS) today received notification through official written correspondence from the U.S. Department of Commerce that its China subsidiary (“Plexus Xiamen”) will be removed from the Bureau of Industry and Security’s (“BIS”) Unverified List. Through no fault of Plexus or the BIS, a delay in the routine verification of a shipment to Plexus Xiamen occurred, which as a result of strong cooperation between the organizations has now been swiftly rectified. The Department of Commerce has commenced an administrative process to publish the removal of Plexus from the Unverified List in the Federal Register, which the company anticipates to occur in January 2024. Plexus remains committed to compliance with all applicable U.S. export control laws, and to working with BIS in a transparent, collaborative manner.