Flextronics

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Flextronics International Ltd.
Type Public
Traded as NASDAQ: FLEX
Industry Electronic manufacturing services
Founded 1969
Founder(s) Joe McKenzie and Barbara Ann McKenzie
Headquarters Singapore
Key people Mike McNamara, CEO
Website http://www.flextronics.com

Flextronics International Ltd. (simply known as Flextronics or Flex) is a Singaporean electronics manufacturing services provider that offers services to original equipment manufacturers (OEM). Flextronics in 2011 was ranked, according to CircuitsAssembly.com, [1] as the second largest global Electronics Manufacturing Services (EMS) by revenue.

Flextronics has manufacturing operations in over 30 countries, totaling approximately 27.2 million square feet (as of March 2009).

Contents

History [edit]

 This section needs additional citations for verification. Please help improve this article by adding citations to reliable sources. Unsourced material may be challenged and removed. (July 2012)
Flextronics' Singapore headquarters in August 2006

In 1969, the company was founded in Silicon Valley as Flextronics, Inc. by Joe McKenzie. In 1980, the company was sold to Bob Todd, Joe Sullivan and Jack Watts. In 1981, Flextronics became a publicly held company.

In 1990, the company returned to being a private company in a leveraged buyout and was renamed as Flextronics International, Ltd. with Singapore as its new base. In 1993, the company received venture capital funding through Sequoia Capital,[2] and became a public held company again in 1994. The company closed its contract electronic manufacturing plant in Richardson, Texas in 1996. The company acquired two companies in Hong Kong, Astron Group and FICO Plastics Ltd. and a Swedish-based company, Ericsson Business Networks. In 2000, the company ranked third on "100 Best-Managed Companies" by Industry Week. In 2005, the company purchased the manufacturing division of Nortel Networks, and Solectron in 2007. On June 4, 2007, Flextronics offered to purchase Solectron for US$3.6 billion 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.[citation needed] 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 television receivers at its Juarez, Mexico facility for distribution to the North and South American markets.[3] 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.[4]

On September 15, 2010, Flextronics announced that it had been chosen by Brammo, Inc., a global leader in the electric motorcycle business, to be its manufacturing partner for the production and distribution of plug-in electric motorcycles and components. The partnership represented an expansion of Flextronics' Automotive Division's portfolio for battery powered vehicles and complemented its expertise in high voltage and energy recuperation for the automotive market.[5][6] In 2010, the company signed an agreement with Lenovo to provide manufacturing for Europe. That same year, Flextronics also signed an agreement with Brammo to provide acquisition and manufacturing in North America, Asia and Europe.

In 2012, Flextronics sold Vista Point Technologies camera module business subsidiary to DigitalOptics Corp., a wholly owned subsidiary of Tessera Technologies.[7]

Customers [edit]

Since 2005, Flextronics has had a contract from Microsoft to build the Zune,[8] Xbox[9] and Xbox 360.[10]

After a series of losses, the LEGO Group contracted most of their production capabilities to Flextronics.[11] However, LEGO cancelled most of its contracts between 2007-2008.

In July 2011 former Flextronics' senior director pleaded guilty in insider probe on selling information about Apple's iPhone 4, supplies materials of which for manufacturing is partially coordinated by the company. [12]

Notes [edit]

  1. ^ http://www.circuitsassembly.com/cms/component/content/article/159/10901-ems-top-50
  2. ^ "Sequoia Capital funds Flextronics". 
  3. ^ [1][dead link]
  4. ^ [2][dead link]
  5. ^ Miles, Matthew. "Brammo Partners with Flextronics — Industry News". CycleWorld Magazine. Retrieved 2010-09-16. [dead link]
  6. ^ Williams, Christina (16 September 2010). "Brammo teams with Flextronics". Portland Business Journal. Retrieved 23 September 2010. 
  7. ^ "Flextronics to Sell Camera Module Assets to Tessera". 
  8. ^ Zune vs Ipod Comparison
  9. ^ Wired 9.11: The Making of the Xbox
  10. ^ Radd, David (2005-08-16). "Xbox 360 Manufacturers Revealed". Bloomberg Businessweek. Retrieved 2010-08-19. 
  11. ^ Billionaire's Lego Farms Out To Flextronics
  12. ^ "UPDATE 1-Expert pleads guilty in U.S. insider probe". Reuters. Retrieved 2012-07-12. 

External links [edit]

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