Sanmina-SCI Corporation

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Sanmina Corporation
Type Public
NASDAQSANM
Industry Electronics Manufacturing Services
Founded 1980
Founders Jure Sola
Headquarters San Jose, California, United States
Key people Jure Sola, Chairman and Chief Executive Officer; Bob Eulau, Executive Vice President and Chief Financial Officer
Revenue $6.32 billion USD (2010) [1]
Employees 43,000 (2013)
Website http://www.sanmina.com/

Sanmina Corporation is a global electronics manufacturing services (EMS) provider headquartered in San Jose, California that serves original equipment manufacturers in technology-related industries such as communications and computer hardware. Sanmina has nearly 80 manufacturing sites. The company is one of the world’s largest independent manufacturers of printed circuit boards and backplanes.

History[edit]

SCI was founded as "Space Craft Inc." in a basement in Huntsville, Alabama, in 1961 by engineers Olin B. King, Bill Greaver, and Joe Kirk. The company grew into a billion-dollar business by constructing aerospace components. Some of SCI's client companies included Boeing, Sperry, International Business Machines (IBM), Commodore, Thiokol, and Northrop.[2] In the 1990s the firm made Commodore Amiga computers in Scotland for the European market.[3]

The Sanmina company was founded by Milan Mandarić and Jure Sola in 1980, as a printed circuit manufacturer. By the end of the 1980s, the company expanded to backplanes and subassemblies.[4]

Merger and name changes[edit]

In December 2001, Sanmina merged with SCI Systems of Huntsville, Alabama for $6 billion in cash, stock, and debt. Although Sanmina was only half as large as SCI at the time, it was in a better cash position because its core telecommunications business was performing well, whereas SCI's lower-margin businesses such as personal computer manufacturing, were struggling.[5] Shortly after, Sanmina-SCI bought E-M Solutions, a bankrupt Fremont, California electronics manufacturer, for $110 million in cash.[6] Then in early 2002, Sanmina acquired Viking Interworks of Rancho Santa Margarita for $15 million ($10.9 million in cash and 390,000 shares of Sanmina stock worth $10.26 per share at the time).[7]

On Nov. 15, 2012, the company changed its name to Sanmina.[8]

Operations[edit]

In 2012 the San Jose, CA based company has 41,000 employees in over 20 countries. It serves clients in the fields of communications, computing, multimedia, semiconductors, defense, aerospace, medical applications, and automotive technology. It provides "end-to-end" manufacturing services for these clients (including consulting, design, engineering, logistics, new product introduction, assembly, machining, and fabrication), to produce printed circuit boards, backplanes, cables, injection-molded plastics, enclosures and frames, optics. It was ranked number 366 on the 2011 Fortune 500 list of the 500 largest United States public corporations.[9]

References[edit]

  1. ^ "366. Sanmina-SCI". Fortune 500: Our annual ranking of America's Largest Corporations. Fortune. Retrieved 25 April 2012. 
  2. ^ SCI Systems, Inc.
  3. ^ [pending whitelist /news/commodore_signs_sci_to_make_amiga_600_in_scotland COMMODORE SIGNS SCI TO MAKE AMIGA 600 IN SCOTLAND]
  4. ^ WHAT WE MAKE, MAKES A DIFFERENCE.
  5. ^ Todd Wallack (July 17, 2001). "Sanmina buys rival SCI Systems". San Francisco Chronicle. Retrieved 2007-09-28. 
  6. ^ "Net expansion adds 52,000 domain names". San Francisco Chronicle. September 25, 2001. Retrieved 2007-09-28. 
  7. ^ "Year later, Sanmina-SCI revives Viking". Orange County Business Journal. Retrieved 2010-10-27. 
  8. ^ Sanmina Dropping 'SCI' from Name
  9. ^ "Fortune 500: Our ranking of America's largest corporations". Fortune Magazine. Retrieved 30 April 2012.Key people:Murugan Chellam. 

External links[edit]