Sanmina Corporation

From Wikipedia, the free encyclopedia
  (Redirected from Viking Interworks)
Jump to: navigation, search
Sanmina
Public
Traded as NASDAQSANM
S&P 600 Component
Industry Electronics Manufacturing Services
Founded 1980; 37 years ago (1980)
Founder Jure Sola
Headquarters San Jose, California, United States
Key people
Jure Sola, chairman; Bob Eulau, chief executive and chief financial officer
Revenue US$6.481 billion (2016) [1]
Number of employees
40,178 (2016)
Divisions Viking Technology, SCI, Newisys, 42Q MES
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. The company features in the Fortune 500 list, ranked at 414. It holds a rank in the list for the 16th year.

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]

On July 2, 2015, the company announced that it had acquired the CertainSource Technology Group.

Change of Leadership[edit]

In July 2017, the Sanmina Board of Directors unanimously voted to appoint Bob Eulau as the new CEO of the company. Eulau is scheduled to replace co-founder Jure Sola as the CEO effective October 2, 2017. After this change, Sola will be assuming the role of Executive Chairman of the Board and continue to maintain a presence in the company.[7]

Operations[edit]

In 2015, the San Jose, California-based company had 38,417 employees in over 27 countries on six continents. 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, electrical cables, injection-molded plastics, enclosures and frames, optics.

References[edit]

  1. ^ "414. Sanmina-Corporation". 
  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. ^ https://www.reuters.com/article/brief-bob-eulau-has-been-named-as-next-c-idUSASA09W6P

External links[edit]