June 4, 2002
* General Motors Corp. said it will buy a $30-million stake in a Chinese minivan and mini-truck maker, moving into the largest sector of China's auto market. * Flextronics International Ltd., the second-largest maker of electronics for brand-name companies, cut its fiscal first-quarter profit forecast to 5 cents to 8 cents a share on revenue of about $3 billion from an April forecast of 10 cents to 13 cents on revenue of $3.3 billion.
November 20, 1996 |
Flextronics International Ltd. agreed to buy a main production unit of Ericsson's business networks division in Sweden for between $100 million and $150 million. The San Jose-based electronics equipment maker said the acquisition will double its revenue to $1 billion next year. Its shares rose $5.25 to $33 on Nasdaq. The acquisition will be paid for initially through bank financing, followed by some equity financing, said Michael Marks, Flextronics chief executive.
July 3, 2001 |
Motorola Inc. and Flextronics International Ltd., the second-biggest contract electronics manufacturer, said they're changing the terms of a $30-billion, five-year agreement because of weaker-than-expected demand. The companies said they're removing the volume incentives and five-year terms of the deal under which Flextronics makes mobile phones, pagers and other devices for Motorola. They didn't specify new terms.
November 23, 1999 |
Flextronics International Ltd., which makes and assembles circuit boards and cell phones for other companies, agreed to buy rival DII Group Inc. for about $2.4 billion in stock to boost production and add customers. San Jose-based Flextronics will swap 0.805 share for each share of DII Group, valuing each DII share at $65.41, 26% more than Friday's close. Flextronics will get DII's 12,000 employees and 22 plants worldwide, making it the world's No.
April 28, 2004 |
Flextronics International Ltd., the world's largest contract electronics manufacturer, said Tuesday that higher demand boosted sales, but restructuring costs drove down profit in its fiscal fourth quarter. The Singapore-based company, which has corporate offices in San Jose, posted net income of $16 million, or 3 cents a share, down 18% from $19.5 million in the same quarter a year ago. Sales rose to $3.8 billion, up 23% from $3.1 billion last year.
November 25, 2003
Hewlett-Packard Co. began selling a new line of computer data-storage products to challenge IBM Corp. and Dell Inc. * Attorneys for Flextronics International Ltd. asked a Santa Ana Superior Court judge to set aside a nearly $1 billion verdict against the firm won by Fullerton-based Beckman Coulter Inc., saying that there was no legal basis for it.