Word: solectron
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...divestiture trend is a boon to the entire EMS industry, but Flextronics is growing the fastest. It has 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...
Consider Donna Dubinsky and Jeff Hawkins, the brains behind the ubiquitous PDA, the Palm Pilot. They left Palm three years ago and started Handspring with a scheme for a competing PDA, the Visor. Within 15 months, Handspring was shipping its new Visors, thanks to Flextronics and Solectron. And now the Visor has 7% of the $4.3 billion global PDA market...
...leveraging its early presence in Malaysia and China into a solid share of the "enclosures" market--doing final assembly for cellular phones, personal computers and printers. But when the Asian economic crisis hit in 1997, Marks says, "I was all ready to sell it off to Sanmina or Solectron...
...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...
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