Sanmina Corporation

Sanmina Corporation
Public
Traded as NASDAQ: SANM
S&P 600 Component
Industry Electronics Manufacturing Services
Founded 1980 (1980)
Founder Jure Sola
Headquarters San Jose, California, USA
Key people
 Jure Sola (Executive Chairman); Michael Clarke (Chief Executive Officer)
Revenue US$6.9 billion (2017) [1]
Number of employees
 40,178 (2016)
Divisions Viking Technology, SCI, Newisys, 42Q MES
Website www.sanmina.com
The President of Israel, Reuven Rivlin, visiting Sanmina Corporation factory in Ma'alot-Tarshiha, Israel, February 2018

Sanmina Corporation is an American electronics manufacturing services (EMS) provider headquartered in San Jose, California that serves original equipment manufacturers in communications and computer hardware fields. The firm has nearly 80 manufacturing sites, and is one of the world’s largest independent manufacturers of printed circuit boards and backplanes. It is ranked number 414 in the Fortune 500 list, and has been included in the list for the 16th year.

History

Sanmina was founded by Jure Sola and Milan Mandarić in 1980 as a printed circuit board manufacturer. During the 1980s, it expanded into manufacturing backplanes and subassemblies [2] for the telecommunications industry. During the 1990s, the company grew , producing complete products for major OEM companies and completing a number of 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

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

Bob Eulau replaced co-founder Jure Sola as the CEO effective October 2, 2017. After this change, Sola assumed the role of Executive Chairman of the Board .[7]

Operations

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

  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
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