<DOCUMENT>
<TYPE>EX-99.2
<SEQUENCE>4
<FILENAME>a2056266zex-99_2.txt
<DESCRIPTION>EXHIBIT 99.2
<TEXT>
<PAGE>

                                                                    Exhibit 99.2

                                 CELESTICA INC.

                           CONSOLIDATED BALANCE SHEETS
                         (IN THOUSANDS OF U.S. DOLLARS)
                                   (UNAUDITED)


<TABLE>
<CAPTION>

                                                     DECEMBER 31    JUNE 30
                                                         2000         2001
                                                   --------------  -------------
<S>                                                <C>             <C>
ASSETS
Current assets:
  Cash and short-term investments................. $     883,757   $   1,261,259
  Accounts receivable ............................     1,785,716       1,615,967
  Inventories ....................................     1,664,304       1,517,089
  Prepaid and other assets........................       138,830         117,563
  Deferred income taxes...........................        48,357          27,484
                                                   -------------   -------------
                                                       4,520,964       4,539,362
Capital assets ...................................       633,438         752,667
Intangible assets ................................       578,272         566,662
Other assets .....................................       205,311         142,889
                                                   -------------   -------------
                                                   $   5,937,985   $   6,001,580
                                                   =============   =============

LIABILITIES AND SHAREHOLDERS' EQUITY
Current liabilities:
  Accounts payable................................ $   1,730,460   $   1,020,785
  Accrued liabilities.............................       466,310         486,406
  Income taxes payable............................        52,572          35,289
  Deferred income taxes...........................         7,702           7,704
  Current portion of long-term debt ..............         1,364             413
                                                   -------------   -------------
                                                       2,258,408       1,550,597
Accrued post-retirement benefits .................        38,086          42,675
Long-term debt ...................................       130,581         130,188
Other long-term liabilities.......................         3,000           2,000
Deferred income taxes.............................        38,641          12,993
                                                   -------------   -------------
                                                       2,468,716       1,738,453
Shareholders' equity:
  Convertible debt................................       860,547         873,344
  Capital stock (note 4)..........................     2,395,414       3,112,886
  Retained earnings...............................       217,512         281,114
  Foreign currency translation adjustment.........        (4,204)         (4,217)
                                                    ------------    -------------
                                                       3,469,269       4,263,127
                                                    ------------    ------------
                                                   $   5,937,985   $   6,001,580
                                                   =============   =============
</TABLE>


          SEE ACCOMPANYING NOTES TO CONSOLIDATED FINANCIAL STATEMENTS.

   THESE INTERIM FINANCIAL STATEMENTS SHOULD BE READ IN CONJUNCTION WITH THE
                    ANNUAL CONSOLIDATED FINANCIAL STATEMENTS.

                                                                               1

<PAGE>


                                 CELESTICA INC.

            CONSOLIDATED STATEMENTS OF EARNINGS AND RETAINED EARNINGS
            (IN THOUSANDS OF U.S. DOLLARS, EXCEPT PER SHARE AMOUNTS)
                                   (UNAUDITED)


<TABLE>
<CAPTION>

                                                         THREE MONTHS ENDED                SIX MONTHS ENDED
                                                               JUNE 30                         JUNE 30
                                                         2000           2001            2000           2001
                                                   --------------  -------------   --------------  ------------
<S>                                                  <C>           <C>               <C>            <C>
Revenue...........................................   $  2,091,883  $  2,660,706      $  3,704,206   $ 5,353,281
Cost of sales.....................................      1,946,047     2,468,535         3,447,784     4,967,802
                                                   --------------  -------------   --------------  ------------
Gross profit......................................        145,836       192,171           256,422       385,479
Selling, general and administrative expenses .....         73,457        86,415           131,482       175,459
Amortization of intangible assets ................         19,248        28,130            34,571        57,708
Integration costs related to acquisitions ........          4,904         7,797             5,571        10,123
Other charges (note 5)............................              -        53,198                 -        56,998
                                                   --------------  -------------   --------------  ------------
Operating income .................................         48,227        16,631            84,798        85,191
Interest on long-term debt........................          3,919         5,115             7,757         9,449
Interest income, net..............................        (10,201)       (7,559)          (15,851)      (15,447)
                                                   --------------  -------------   --------------  ------------
Earnings before income taxes......................         54,509        19,075            92,892        91,189
                                                   --------------  -------------   --------------  ------------
Income taxes:
  Current.........................................         17,390         6,310            30,943        19,314
  Deferred (recovery).............................         (4,308)       (3,067)           (5,578)        1,236
                                                   --------------  -------------   --------------  ------------
                                                           13,082         3,243            25,365        20,550
                                                   --------------  -------------   --------------  ------------
Net earnings for the period.......................         41,427        15,832            67,527        70,639

Retained earnings, beginning of period............         42,308       268,883            16,208       217,512
Convertible debt accretion, net of tax............              -        (3,601)                -        (7,037)
                                                   --------------  -------------   --------------  ------------
Retained earnings, end of period..................   $     83,735    $  281,114      $     83,735    $  281,114
                                                   --------------  -------------   --------------  ------------
                                                   --------------  -------------   --------------  ------------

Basic earnings per share..........................   $       0.20    $     0.06      $       0.34    $     0.31

Diluted earnings per share (note 2)...............   $       0.20    $     0.06      $       0.33    $     0.31

Weighted average number of  shares
 outstanding
   - basic (in thousands)......................           202,729       207,018           196,424       204,673
   - diluted (in thousands) (note 2)..............        211,861       225,548           205,498       223,680
</TABLE>


ADJUSTED NET EARNINGS (NOTE 7)




          SEE ACCOMPANYING NOTES TO CONSOLIDATED FINANCIAL STATEMENTS.

    THESE INTERIM FINANCIAL STATEMENTS SHOULD BE READ IN CONJUNCTION WITH THE
                    ANNUAL CONSOLIDATED FINANCIAL STATEMENTS.

                                                                               2

<PAGE>




                                 CELESTICA INC.

                      CONSOLIDATED STATEMENTS OF CASH FLOWS
                         (IN THOUSANDS OF U.S. DOLLARS)
                                   (UNAUDITED)


<TABLE>
<CAPTION>


                                                            THREE MONTHS ENDED              SIX MONTHS ENDED
                                                                  JUNE 30                        JUNE 30
                                                           2000            2001           2000            2001
                                                      -------------- --------------  --------------  --------------
<S>                                                   <C>            <C>             <C>             <C>
     CASH PROVIDED BY (USED IN):
     OPERATIONS:
       Net earnings for the period ...................  $    41,427    $     15,832    $     67,527    $     70,639
       Items not affecting cash:
         Depreciation and amortization................       48,357          71,291          87,249         141,027
         Deferred income taxes........................       (4,308)         (3,067)         (5,578)          1,236
         Other charges (note 5).......................            -          16,928               -          17,228
         Other........................................       (8,695)           (460)         (9,335)          1,291
                                                      -------------- --------------  --------------  --------------
      Cash from earnings..............................       76,781         100,524         139,863         231,421
                                                      -------------- --------------  --------------  --------------
      Changes in non-cash working capital items:
         Accounts receivable..........................     (227,931)       (128,110)       (324,822)        173,824
         Inventories..................................     (153,626)        208,040        (274,652)        176,686
         Other assets.................................      (23,850)        144,545         (41,024)         91,290
         Accounts payable and accrued liabilities.....      157,895        (108,483)        367,623        (704,513)
      Income taxes payable............................        4,636          (4,345)         (7,407)        (17,283)
                                                      -------------- --------------  --------------  --------------
         Non-cash working capital changes.............     (242,876)        111,647        (280,282)       (279,996)
                                                      -------------- --------------  --------------  --------------
         Cash provided by (used in) operations........     (166,095)        212,171        (140,419)       (48,575)
                                                      -------------- --------------  --------------  --------------

     INVESTING:
        Acquisitions, net of cash acquired............     (461,622)        (82,397)       (596,733)       (148,117)
        Purchase of capital assets....................      (29,311)        (59,252)        (97,903)       (136,085)
       Other..........................................       21,088           1,308          21,647             922
                                                      -------------- --------------  --------------  --------------
       Cash used in investing activities..............     (469,845)       (140,341)       (672,989)       (283,280)
                                                      -------------- --------------  --------------  --------------

     FINANCING:
        Bank indebtedness.............................       (8,880)              -          (8,880)              -
        Decrease in long-term debt....................       (1,046)           (376)         (1,681)         (1,653)
        Deferred financing costs......................          (63)             (4)           (104)            (19)
        Issuance of share capital.....................          631         717,949         764,674         722,029
        Share issue costs, pre-tax....................            -         (10,000)        (26,788)        (10,000)
        Other.........................................       (1,443)         (1,000)         (1,687)         (1,000)
                                                      -------------- --------------  --------------  --------------
     Cash provided by (used in) financing activities..      (10,801)        706,569         725,534         709,357
                                                      -------------- --------------  --------------  --------------

     Increase (decrease) in cash......................     (646,741)        778,399         (87,874)        377,502

     Cash, beginning of period........................      930,389         482,860         371,522         883,757
                                                      -------------- --------------  --------------  --------------
     Cash, end of period..............................  $   283,648    $  1,261,259    $    283,648    $  1,261,259
                                                      -------------- --------------  --------------  --------------
                                                      -------------- --------------  --------------  --------------

     Supplemental information:
       Paid during the period:
         Interest.....................................  $     7,331    $      7,648    $      7,757    $      8,152
         Taxes........................................  $     8,617    $     12,627    $     32,374    $     32,059

     Non-cash financing activities:
      Convertible debt accretion, net of tax .........  $         -    $      3,601    $          -    $      7,037
      Shares issued for acquisitions..................  $         -    $        530    $          -    $      2,030
</TABLE>

      Cash is comprised of cash and short-term investments.


          SEE ACCOMPANYING NOTES TO CONSOLIDATED FINANCIAL STATEMENTS.

    THESE INTERIM FINANCIAL STATEMENTS SHOULD BE READ IN CONJUNCTION WITH THE
                    ANNUAL CONSOLIDATED FINANCIAL STATEMENTS.

                                                                               3

<PAGE>


                                 CELESTICA INC.

                   NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
            (IN THOUSANDS OF U.S. DOLLARS, EXCEPT PER SHARE AMOUNTS)
                                   (UNAUDITED)


1.    NATURE OF BUSINESS:

     The primary  operations of the Company consist of providing a full range of
electronics  manufacturing  services  including design,  prototyping,  assembly,
testing, product assurance, supply chain management,  worldwide distribution and
after-sales   service  to  its   customers   primarily   in  the   computer  and
communications  industries.  The Company has  operations  in the United  States,
Canada,  Mexico, United Kingdom,  Ireland,  Italy,  Thailand,  China, Hong Kong,
Czech Republic, Brazil, Singapore, Japan and Malaysia.

     The Company prepares its financial statements in accordance with accounting
principles  generally  accepted in Canada,  with a reconciliation  to accounting
principles  generally  accepted  in the United  States,  included  in the annual
consolidated financial statements.

       The Company  experiences  seasonal  variation  in revenue,  with  revenue
typically being highest in the fourth quarter and lowest in the first quarter.

2.    SIGNIFICANT ACCOUNTING POLICIES:

     The disclosures contained in these unaudited interim consolidated financial
statements  do not include all  requirements  of generally  accepted  accounting
principles for annual financial  statements.  The unaudited interim consolidated
financial  statements should be read in conjunction with the annual consolidated
financial statements for the year ended December 31, 2000.

     The unaudited  interim  consolidated  financial  statements  are based upon
accounting  principles  consistent  with those used and  described in the annual
consolidated financial statements, except that in the first quarter of 2001, the
Company  adopted   retroactively   the  new  Canadian   Institute  of  Chartered
Accountants  Handbook Section 3500 "Earnings per share",  which requires the use
of the treasury stock method for calculating  diluted  earnings per share.  This
change  results in an earnings per share  calculation  which is consistent  with
United States generally  accepted  accounting  principles.  Previously  reported
diluted earnings per share have been restated to reflect this change.

     The  unaudited  interim  consolidated   financial  statements  reflect  all
adjustments,  consisting only of normal  recurring  accruals,  which are, in the
opinion of management, necessary to present fairly the financial position of the
Company as of June 30, 2001 and the results of operations and cash flows for the
three and six months ended June 30, 2001 and 2000.

3.   ACQUISITIONS:

    During the first half of 2001, the Company  completed  certain  acquisitions
which were  accounted  for as  purchases.  The results of  operations of the net
assets acquired are included in these financial statements from their respective
dates of acquisition.

     In January 2001, the Company  acquired Excel  Electronics,  Inc.  through a
merger with Celestica (US) Inc., a subsidiary of the Company.  In February 2001,
the Company acquired certain assets located in Dublin, Ireland and Mt. Pleasant,
Iowa from Motorola Inc. In March 2001, the Company  acquired certain assets of a
repair  facility in Japan from N.K.  Techno Co.,  Ltd. In May 2001,  the Company
acquired  certain assets located in Little Rock,  Arkansas and Denver,  Colorado
from Avaya Inc. and also entered into agreements to purchase  additional  assets
in the United  States and France,  to be  completed  in phases  during the third
quarter of 2001. In June 2001,  Celestica acquired Sagem CR s.r.o., in the Czech
Republic, from Sagem SA, of France.


                                                                               4

<PAGE>


                                 CELESTICA INC.

                   NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
            (IN THOUSANDS OF U.S. DOLLARS, EXCEPT PER SHARE AMOUNTS)
                                   (UNAUDITED)


Details of the net assets acquired in these acquisitions,  at fair value, are as
follows:

<TABLE>
<CAPTION>

                                                    ACQUISITIONS
                                                    ------------
<S>                                                   <C>
Current assets....................................   $   36,609
Capital assets....................................       82,799
Goodwill and intellectual property................       32,324
Other intangible assets...........................       13,658
Liabilities assumed...............................      (15,243)
                                                    ------------
Net assets acquired...............................   $  150,147
                                                    ------------
                                                    ------------

Financed by:
 Cash.............................................   $  148,117
 Issue of shares..................................        2,030
                                                    ------------
                                                     $  150,147
                                                    ------------
                                                    ------------
</TABLE>

     Other  intangible  assets  represent the excess of purchase  price over the
fair value of tangible assets acquired in facility acquisitions.

     In May 2001,  the Company  entered into an  agreement to acquire  Primetech
Electronics  Inc.  (Primetech),  an  electronics  manufacturer  in  Canada.  The
shareholders of Primetech are entitled to receive 0.22 subordinate voting shares
of Celestica for each share of Primetech.  The total purchase price is estimated
to be  approximately  C$265,000  (US$175,000).  This  acquisition  is subject to
Primetech  shareholder and court approvals and is expected to close in the third
quarter of 2001.

     In June 2001,  the  Company  entered  into an  agreement  to  acquire  Omni
Industries  Limited.  (Omni),  an  electronics  manufacturer   headquartered  in
Singapore.  The  shareholders of Omni are entitled to receive 0.045  subordinate
voting shares of Celestica or a cash payment of S$4.25,  for each share of Omni.
The total purchase price is estimated to be approximately  US$890,000,  with the
maximum  cash outlay  limited to S$860,000  (US$475,000).  This  acquisition  is
subject to Omni  shareholder and court approvals and is expected to close in the
fourth quarter of 2001.

4.   OUTSTANDING SHARES:

     In May 2001, the Company issued  12,000,000  subordinate  voting shares for
gross cash proceeds of $714,000 and incurred $6,588 in share issue costs, net of
tax of $3,412.

     As at June 22, 2001,  Celestica had outstanding  39,065,950 multiple voting
shares,  177,210,407 subordinate voting shares and 16,898,320 options to acquire
subordinate voting shares under Celestica's employee incentive plans.


                                                                               5

<PAGE>


                                 CELESTICA INC.

                   NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
            (IN THOUSANDS OF U.S. DOLLARS, EXCEPT PER SHARE AMOUNTS)
                                   (UNAUDITED)

5.       OTHER CHARGES:

     In response to a slowing end market,  the Company announced a restructuring
plan that  focused on facility  consolidations  and a workforce  reduction.  The
Company recorded a pre-tax  restructuring charge of $53,198 for the quarter. The
following  table  details the  components  of the  restructuring  charge and the
related amounts included in accrued liabilities:

<TABLE>
<CAPTION>

                                                                                      AMOUNTS
                                                   THREE MONTHS    THREE MONTHS     INCLUDED IN
                                                       ENDED           ENDED          ACCRUED
                                                     MARCH 31,        JUNE 30,     LIABILITIES AT
                                                       2001             2001        JUNE 30, 2001
                                                   ------------   -------------  ----------------
<S>                                                <C>             <C>            <C>
Employee termination costs.........................$     1,456     $    22,609    $    18,681
Lease and other contractual obligations............        470          11,469         11,939
Other facility exit costs..........................      1,095           1,656          2,308
Other..............................................        479             536            526
Asset impairment...................................        300          16,928              -
                                                   ------------   -------------  ----------------
                                                   $     3,800     $    53,198    $    33,454
                                                   ------------   -------------  ----------------
                                                   ------------   -------------  ----------------
</TABLE>

     Employee  terminations  were made  across  all  geographic  regions  of the
company with the majority  pertaining to manufacturing  and plant  employees.  A
total of 2,953 employees have been  identified to be terminated.  As of June 30,
2001, 1,129 employees have been terminated.  The remaining termination costs are
expected to be paid out within one year.

     The asset  impairment  reflects the write-down of certain long lived assets
in Canada, US, Europe, and Mexico,  that have become impaired as a result of the
rationalization  of facilities.  The asset  impairments  relate to machinery and
equipment, buildings and improvements. The assets were written down to their net
realizable value based on their recoverable amounts using estimated cash flows.

     The major components of the  restructuring  are estimated to be complete by
the first  quarter of 2002,  except  for  certain  long term  lease  contractual
obligations.

 6.  SEGMENTED INFORMATION:

     The  Company's  operations  fall into one dominant  industry  segment,  the
electronics manufacturing services industry. The Company manages its operations,
and accordingly  determines its operating  segments,  on a geographic basis. The
performance  of  geographic  operating  segments  is  monitored  based  on EBIAT
(earnings  before  interest,  income taxes,  amortization of intangible  assets,
other  charges  and  integration  costs  related to  acquisitions).  The Company
monitors  enterprise-wide  performance based on adjusted net earnings,  which is
calculated  as net earnings  before  amortization  of intangible  assets,  other
charges and  integration  costs related to  acquisitions,  net of related income
taxes. Inter-segment transactions are reflected at market value.

     The  following is a breakdown  of:  revenue,  EBIAT,  adjusted net earnings
(which is after income  taxes) and total assets by  operating  segment.  Certain
comparative  information  has been restated to reflect changes in the management
of operating segments.

<TABLE>
<CAPTION>
                                                         THREE MONTHS ENDED              SIX MONTHS ENDED
                                                               JUNE 30                        JUNE 30
                                                        2000             2001          2000            2001
                                                   --------------  -------------- --------------  ------------
<S>                                                 <C>             <C>            <C>             <C>
Revenue
Americas........................................... $ 1,499,246     $ 1,712,791    $ 2,679,973     $ 3,408,411
Europe.............................................     524,981         839,021        872,854       1,743,906
Asia...............................................     191,382         196,898        345,943         411,860
Elimination of inter-segment revenue...............    (123,726)        (88,004)      (194,564)       (210,896)
                                                   --------------  -------------- --------------  ------------
                                                    $ 2,091,883     $ 2,660,706    $ 3,704,206     $ 5,353,281
                                                   --------------  -------------- --------------  ------------
                                                   --------------  -------------- --------------  ------------
</TABLE>


                                                                               6

<PAGE>


                                 CELESTICA INC.

                   NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
            (IN THOUSANDS OF U.S. DOLLARS, EXCEPT PER SHARE AMOUNTS)
                                   (UNAUDITED)


<TABLE>
<CAPTION>


                                                         THREE MONTHS ENDED              SIX MONTHS ENDED
                                                               JUNE 30                        JUNE 30
                                                        2000            2001           2000            2001
                                                   --------------  -------------- --------------  ---------
<S>                                                <C>             <C>            <C>             <C>
EBIAT
Americas.......................................... $       42,086  $      55,215  $       74,281  $      107,871
Europe............................................         22,216         40,548          34,716          81,721
Asia..............................................          8,077          9,993          15,943          20,428
                                                   --------------  -------------  --------------  --------------
                                                           72,379        105,756         124,940         210,020
Interest, net.....................................          6,282          2,444           8,094           5,998
Amortization of intangible assets.................        (19,248)       (28,130)        (34,571)        (57,708)
Integration costs related to acquisitions.........         (4,904)        (7,797)         (5,571)        (10,123)
Other charges.....................................              -        (53,198)              -         (56,998)
                                                   --------------  -------------- --------------  ---------------
Earnings before income taxes...................... $       54,509  $      19,075  $       92,892  $       91,189
                                                   --------------  -------------- --------------  ---------------
                                                   --------------  -------------- --------------  ---------------
Adjusted net earnings............................. $       63,715  $      93,052  $      103,264  $      180,385
                                                   --------------  -------------- --------------  ---------------
                                                   --------------  -------------- --------------  ---------------
</TABLE>

<TABLE>
<CAPTION>

                                                           AS AT  JUNE 30
                                                        2000           2001
                                                   --------------  -------------
<S>                                                <C>             <C>
TOTAL ASSETS
Americas.......................................... $    2,382,171  $   3,773,205
Europe............................................      1,190,986      1,793,240
Asia..............................................        424,147        435,135
                                                   --------------  -------------
                                                   $    3,997,304  $   6,001,580
                                                   --------------  -------------
                                                   --------------  -------------
</TABLE>

     The Company's  external revenue  allocated by manufacturing  location among
foreign countries exceeding 10% are as follows:

<TABLE>
<CAPTION>

                                                         THREE MONTHS ENDED              SIX MONTHS ENDED
                                                               JUNE 30                        JUNE 30
                                                        2000             2001          2000            2001
                                                   --------------  -------------- --------------  -------------
<S>                                                <C>             <C>            <C>             <C>
Revenue
Canada............................................          32%             22%            33%             24%
United States.....................................          31%             31%            30%             31%
Italy.............................................           6%             12%             3%             13%
United Kingdom....................................          16%             14%            18%             15%
</TABLE>


7.    ADJUSTED NET EARNINGS:

      The  Company  uses  adjusted  net  earnings  as  a  measure  of  operating
performance  on an  enterprise-wide  basis.  Adjusted net  earnings  exclude the
after-tax effect of integration  costs related to acquisitions,  amortization of
intangible assets and other charges.

      The  following  is a breakdown  of adjusted  net earnings and adjusted net
earnings per share - basic and diluted:

<TABLE>
<CAPTION>

                                                          THREE MONTHS ENDED             SIX MONTHS ENDED
                                                                JUNE 30                      JUNE 30
                                                         2000            2001           2000            2001
                                                   --------------  -------------- ---------------   --------------

<S>                                                 <C>              <C>             <C>             <C>
Adjusted net earnings.............................  $   63,715       $   93,052      $   103,264     $   180,385
Adjusted net earnings per share - basic...........  $     0.31       $     0.43      $      0.53     $      0.85
Adjusted net earnings per share - diluted (note 2)  $     0.30       $     0.41      $      0.50     $      0.81
</TABLE>


8.    COMPARATIVE FIGURES:

     Certain  comparative  figures  have been  reclassified  to conform with the
financial statement presentation adopted in the current period.


                                                                              7

</TEXT>
</DOCUMENT>
