Word: sci
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...inhaled 39 suppliers and competitors in less than two years, and its $12 billion market capitalization hovers near that of industry leader Solectron, based in Milpitas, Calif. Both, though, face tough competition from Sanmina, which is based in San Jose and which last month agreed to buy rival SCI Systems, in a stock swap worth about $, 4 billion, plus assumption of $1.5 billion in debt...
...gets the name) never dispatches an enemy with a smug, hip one-liner; he's an appealingly naive, reserved wanderer, as might be found in one of the spaghetti westerns Tartakovsky also cites as an influence. You might call Jack a soba western. Or sashimi sci-fi. Either way, you'll slurp...
...hotel conference room where they met near the Phoenix, Ariz., airport was cramped and seriously lacking in air conditioning. Even the bottled water was too warm to drink as Randy Furr, president and COO of Sanmina, made the pitch for his younger firm, then worth $7.7 billion, to buy SCI, then worth $4 billion, and considered a pioneer in the fast-growing business of manufacturing tech hardware for name-brand companies like Dell, Hewlett-Packard and Nokia. After nearly a day's wrangling, Furr could not get Eugene Sapp, chief executive officer of SCI, to agree on anything, except that...
...after eight weeks of dickering, the deal got done--as both companies recognized that it was the only way they could compete against larger rivals Solectron and Flextronics. SCI, with $9.1 billion in sales last year, mainly assembles PCs and telecom gear, using relatively low-paid labor in countries like Mexico and Malaysia. Sanmina manufactures more complex switches, routers and optical-networking equipment for the likes of Cisco, Alcatel and Motorola, often using skilled labor or factories equipped with robots and lasers. If the merger is approved, as expected, by shareholders and regulators in the U.S. and Europe, the combined...
That's terrific for Furr and his boss, Jure Sola, who will run the company after Sapp retires next year. But it is the end of an era for the old hands at SCI, formerly Space Craft Industries. The Huntsville, Ala., company was founded in 1961 by Olin King, a former NASA engineer who subcontracted for the space agency. SCI evolved into a major manufacturer of PCs and then, under Sapp, who became CEO in 1999, diversified into optical and wireless technology. In fact, at the nadir of the current tech slump, the company in March bought Nokia factories...