Flex (company) facts for kids
.svg){kind=logo} |
|
Former U.S. headquarters in San Jose, California
|
|
| Public | |
| Traded as | NASDAQ: FLEX |
| Industry |
|
| Founded | 25 September 1969 (as Flextronics, Inc.) |
| Founders |
|
| Headquarters | Austin, Texas, U.S. (operations) Singapore (legal domicile) |
|
Number of locations
|
100 |
|
Key people
|
|
| Revenue |  US$30.35 billion (2023) |
|
Operating income
|
US$1.18 billion (2023) |
| US$1.03 billion (2023) |
|
| Total assets | US$21.4 billion (2023) |
| Total equity | US$5.71 billion (2023) |
|
Number of employees
|
172,108 (March 2023) |
.jpg)
Flex Ltd. is a very large company that makes many different electronic products. It used to be called Flextronics International Ltd. or Flextronics. Flex is one of the biggest companies in the world that helps design and build electronics for other companies.
Its main office in the U.S. is in Austin, Texas. Flex has factories and offices in over 30 countries. About 172,000 people work for Flex around the world.
History of Flex
Flex started in 1969 as Flextronics, Inc. It was founded by Joe and Barbara Ann McKenzie.
In 1990, the company changed its name to Flextronics International, Ltd. It was officially registered in Singapore. In 1993, the company got money from a special investment group called Sequoia Capital. The next year, in 1994, it became a public company again. This means its shares could be bought and sold on the stock market.
In 2000, a magazine called IndustryWeek listed Flextronics as one of the "100 Best-Managed Companies."
Around 2006, Flextronics started making some parts for Lego toys. However, in 2009, Lego decided to make those parts themselves again. They bought the factories from Flextronics in Mexico and Hungary.
In 2007, Flextronics bought another big electronics company called Solectron. This made Flextronics even larger. The deal was completed by the end of October 2007.
Milestones and Partnerships
On March 18, 2009, Flextronics was invited to ring the opening bell at the NASDAQ stock market. This celebrated their 15th year of being listed on NASDAQ. The CEO at the time, Mike McNamara, was there for the event.
Later in 2009, LG Electronics (LGE) chose Flextronics to make LCD televisions. Flextronics made different sizes of TVs for LG in its factory in Ciudad Juárez, Mexico. These TVs were sold in North and South America.
Also in 2009, a part of Flextronics called Multek won an award. They received the 2009 Outstanding Supplier Award from Danaher Test and Measurement. This award was for their excellent quality and delivery of products.
In 2010, Flextronics made agreements with other companies. They worked with Brammo, which made electric motorcycles, to help with manufacturing. They also signed a deal with Lenovo to make computers for Europe.
In 2012, Flextronics helped start a new company called Elementum. Elementum focuses on managing supply chains, which means making sure products get from factories to customers smoothly. In 2014, Elementum became its own separate company.
In 2014, Flextronics was named as the company that made the Fitbit Force. This product was recalled because some users got rashes from it.
Name Change and Recent Events
In July 2015, the company officially changed its name from Flextronics to Flex.
In September 2015, Flex bought a company called Nextracker for $330 million. Nextracker makes special equipment for solar panels that helps them follow the sun.
In November 2015, Flex also bought Wink, a company that makes smart home devices. Flex had already been making hardware for Wink. However, in July 2017, Flex sold Wink to another company for $38.7 million.
At the end of 2018, Michael M. McNamara stepped down as the CEO. In February 2019, Revathi Advaithi became the new CEO of Flex.
See also
In Spanish: Flextronics para niños
