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| Type | Public NASDAQ: FLEX |
|---|---|
| Founded | 1969 |
| Founder(s) | Joe McKenzie |
| Headquarters | Singapore |
| Key people | Mike McNamara, CEO |
| Industry | Electronics Manufacturing Services |
| Website | http://www.flextronics.com |
Flextronics International Ltd. (Flextronics) is an electronics manufacturing services provider that offers services to original equipment manufacturers (OEM). It also provides supporting supply chain services, including packaging and transportation throughout the world, as well as design and after-sales.
The company operates within several markets including automotive, computing, consumer, industrial, infrastructure, medical and mobile. In addition, the company operates five business units: Multek, a provider of multi-layer printed and flexible circuit boards, interconnect technologies and complex displays; Vista Point Technologies (VPT), which offers a comprehensive range of camera module solutions; Global Services, which focuses on logistics, reverse logistics and repair operations; FlexPower, a provider of semi-custom and custom power supplies and battery chargers; and Retail Technical Services, a field services organization for customer operations.
Flextronics has manufacturing operations in over 30 countries, totalling approximately 27.2 million square feet (as of March 2009).
On June 4, 2007, Flextronics offered to purchase Solectron for US$3.6b and thus making Solectron a subsidiary of Flextronics. The acquisition of Solectron was completed by end of October 2007, earlier than anticipated.
On March 18, 2009, Flextronics was invited to ring the NASDAQ stock market opening bell, signifying the day’s start of trading and celebrated 15 year NASDAQ-listed anniversary. Mike McNamara (CEO) and a group of top executives represented the company at the ringing of the bell.
On August 25, 2009, Flextronics announced that it was chosen by LG Electronics (LGE), a global provider of advanced digital products and applied technologies, to manufacture 19, 22, 26, 32, and 37-inch LCD TVs at its Juarez, Mexico facility for distribution to the North and South American markets.[1]
On September 2, 2009, Flextronics announced that Multek received Danaher Test and Measurement's 2009 Outstanding Supplier Award. The award was given based on quality, delivery performance, engineering support and cost for work with two of Danaher's business units, Tektronix and Fluke.[2]
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Customers
Flextronics has a contract from Microsoft to build the Zune[1], Xbox[2] and Xbox 360[3]. They are also contracted by Apple Inc., to service their electronics.
After a series of losses, the Lego Group contracted most of their production capabilities to Flextronics.[4]
As of March 2009, Flextronics' largest customers include Cisco Systems, Inc. (consumer electronics products), Eastman Kodak (digital cameras and self-service kiosks), Ericsson Telecom AB (business telecommunications systems and GSM infrastructure), Hewlett-Packard (inkjet printers and storage devices), Microsoft (computer peripherals and consumer electronics gaming products), Motorola (cellular phones and telecommunications infrastructure), Reseaerch in Motion(RIM) (smartphones and other mobile communication devices), Sony-Ericsson (cellular phones), and Sun Microsystems (network computing infrastructure products)[5]. Their RTS division is also contracted by Verizon Wireless for in-store technical support services[6]
History
- 1969 - Founded in Silicon Valley as Flextronics Inc by Joe McKenzie.
- 1980 - Sold to Bob Todd, Joe Sullivan, and Jack Watts as the new owners. Todd became CEO.
- 1981 - Becomes the first U.S. manufacturer to go offshore by setting up a manufacturing facility in Singapore.
- 1987 - Went public.
- 1990 - Return to private in a leveraged buyout and is reorganized as Flextronics International Ltd., with Singapore as its new base.
- 1993 - Received venture capital funding through Sequoia Capital[7]
- 1994 - Went public for the second time. Michael Marks became CEO in January 1994.
- 1996 - Closed its contract electronic manufacturing plant in Richardson, Texas. Acquired two companies in Hong Kong - the Astron Group and FICO Plastics Ltd. and the Ericsson Business Networks production facility in Karlskrona, Sweden
- 1998 - Annual revenue surpasses $1 billion in fiscal 1998 ending March 31, 1998.
- 2000 - Ranked third on Industry Week's list of '100 Best-Managed Companies.
- 2005 - Bought out the manufacturing division of the Nortel Networks Corporation.
- 2007 - Purchased Solectron.
- 2008 - $16-billion global electronics manufacturing services provider
- 2009 - Enter the Solar Industry.
External links
The Teamsters Union is organizing a demonstration on October 21 on Parliament Hill, in Ottawa. The goal of this gathering is to make the Canadian people and federal elected officials aware of the situation of Flextronics workers.*[3]
- Official website
- Multek Website
- Retail Technical Services website
- Vista Point Technologies Website
- EMS Research On Flextronics By iSuppli
- EMS News
Notes
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