Sanmina Corporation

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Sanmina Corporation
Public
NASDAQSANM
Industry Electronics Manufacturing Services
Founded 1980
Founder 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 $6.22 billion USD (2014) [1]
Number of 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]

Sanmina was founded by Jure Sola and Milan Mandarić in 1980 as a printed circuit board manufacturer. During the 1980s, the company expanded into manufacturing backplanes and subassemblies [2] for the telecommunications industry. During the 1990s, the company grew significantly, producing complete products for major OEM companies and completing a number of strategic acquisitions. Jure Sola became CEO and Chairman of Sanmina in 1991. The company completed an initial public offering on NASDAQ in 1993.

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.[3] Shortly after, Sanmina-SCI bought E-M Solutions, a bankrupt Fremont, California electronics manufacturer, for $110 million in cash.[4] 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).[5]

On November 15, 2012, the company changed its name to Sanmina.[6]

Operations[edit]

In 2014, the San Jose, CA based company had 43,000 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 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.[7]

References[edit]

  1. ^ "366. Sanmina-SCI". Fortune 500: Our annual ranking of America's Largest Corporations. Fortune. Retrieved 25 April 2012. 
  2. ^ WHAT WE MAKE, MAKES A DIFFERENCE.
  3. ^ Todd Wallack (July 17, 2001). "Sanmina buys rival SCI Systems". San Francisco Chronicle. Retrieved 2007-09-28. 
  4. ^ "Net expansion adds 52,000 domain names". San Francisco Chronicle. September 25, 2001. Retrieved 2007-09-28. 
  5. ^ "Year later, Sanmina-SCI revives Viking". Orange County Business Journal. Retrieved 2010-10-27. 
  6. ^ Sanmina Dropping 'SCI' from Name
  7. ^ "Fortune 500: Our ranking of America's largest corporations". Fortune Magazine. Retrieved $1 $2.  Check date values in: |accessdate= (help)

External links[edit]