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Flextronics International Ltd

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BUSINESS
December 7, 2002 | From Bloomberg News
Flextronics International Ltd.'s Multek unit, a maker of printed circuit boards for other companies, said it would close plants in Irvine and Kumla, Sweden, to reduce costs. The facilities make the thin plates on which chips and other electronic components are placed. The Singapore-based company didn't indicate how many jobs would be affected. Flextronics shares rose 4 cents to $10.08 on Nasdaq.
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BUSINESS
June 5, 2007 | From Times Wire Services
Flextronics International Ltd. said it would buy rival Solectron Corp. for $3.6 billion in cash and stock to cut costs and expand its product line. The merger between the biggest U.S. companies in the contract electronics industry would create a company with more than $30 billion in annual revenue and a workforce of about 200,000 people, they said. Under the deal, each Solectron share will be swapped for either 0.3450 Flextronics share or $3.89 cash.
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BUSINESS
September 26, 2003 | From Reuters
Flextronics International Ltd., which was ordered by a jury to pay Beckman Coulter Inc. of Fullerton $934 million in a fraud case, said Thursday that it expected to appeal and that the final cost to the company would be less than $10 million. Flextronics shares fell $1.10 to $13.90 on Nasdaq. Beckman Coulter lost $1.75 to $44.95 on the New York Stock Exchange.
BUSINESS
April 28, 2004 | Alex Pham, Times Staff Writer
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.
BUSINESS
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.
BUSINESS
November 20, 1996 | Times Staff and Wire Reports
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.
BUSINESS
July 3, 2001 | Bloomberg News
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.
BUSINESS
June 5, 2007 | From Times Wire Services
Flextronics International Ltd. said it would buy rival Solectron Corp. for $3.6 billion in cash and stock to cut costs and expand its product line. The merger between the biggest U.S. companies in the contract electronics industry would create a company with more than $30 billion in annual revenue and a workforce of about 200,000 people, they said. Under the deal, each Solectron share will be swapped for either 0.3450 Flextronics share or $3.89 cash.
BUSINESS
November 23, 1999 | Bloomberg News
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.
BUSINESS
October 2, 2003 | James F. Peltz, Times Staff Writer
Flextronics International Ltd. and Beckman Coulter Inc. are in talks to possibly settle a contract dispute that resulted in a stunning $934-million award against Flextronics by an Orange County jury last week, a lawyer for Beckman Coulter said Wednesday. But the lawyer, Daniel Callahan in Santa Ana, cautioned that the companies remained far apart in their negotiations. "The only offer we've received from Flextronics thus far is $10 million," a sum that is "woefully too low," Callahan said.
BUSINESS
November 27, 2003 | Lisa Girion, Times Staff Writer
Conceding that the days of massive punitive damage awards may be over, Beckman Coulter Inc. on Wednesday settled its fraud and breach-of-contract lawsuit against Flextronics International Ltd. for $23 million, a far cry from the $934 million it was awarded by a jury. The settlement is the latest fallout from a U.S. Supreme Court decision in April that is being interpreted by lower courts as limiting punitive damages to no more than nine times actual damages.
BUSINESS
October 2, 2003 | James F. Peltz, Times Staff Writer
Flextronics International Ltd. and Beckman Coulter Inc. are in talks to possibly settle a contract dispute that resulted in a stunning $934-million award against Flextronics by an Orange County jury last week, a lawyer for Beckman Coulter said Wednesday. But the lawyer, Daniel Callahan in Santa Ana, cautioned that the companies remained far apart in their negotiations. "The only offer we've received from Flextronics thus far is $10 million," a sum that is "woefully too low," Callahan said.
BUSINESS
September 26, 2003 | From Reuters
Flextronics International Ltd., which was ordered by a jury to pay Beckman Coulter Inc. of Fullerton $934 million in a fraud case, said Thursday that it expected to appeal and that the final cost to the company would be less than $10 million. Flextronics shares fell $1.10 to $13.90 on Nasdaq. Beckman Coulter lost $1.75 to $44.95 on the New York Stock Exchange.
BUSINESS
July 25, 2003 | From Bloomberg News
Flextronics International Ltd., the world's largest maker of electronics for other companies, said its fiscal first-quarter loss widened because of costs to close two printed circuit-board factories in the U.S. and Mexico. The net loss expanded to $289.7 million, or 56 cents a share, from $131.2 million, or 25 cents, in the same period last year. Sales in the quarter ended June 30 fell less than 1% to $3.11 billion.
BUSINESS
December 7, 2002 | From Bloomberg News
Flextronics International Ltd.'s Multek unit, a maker of printed circuit boards for other companies, said it would close plants in Irvine and Kumla, Sweden, to reduce costs. The facilities make the thin plates on which chips and other electronic components are placed. The Singapore-based company didn't indicate how many jobs would be affected. Flextronics shares rose 4 cents to $10.08 on Nasdaq.
BUSINESS
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.
BUSINESS
July 25, 2003 | From Bloomberg News
Flextronics International Ltd., the world's largest maker of electronics for other companies, said its fiscal first-quarter loss widened because of costs to close two printed circuit-board factories in the U.S. and Mexico. The net loss expanded to $289.7 million, or 56 cents a share, from $131.2 million, or 25 cents, in the same period last year. Sales in the quarter ended June 30 fell less than 1% to $3.11 billion.
BUSINESS
October 3, 2001 | From Times Staff and Wire Reports
Struggling copier maker Xerox Corp. said Tuesday that it has agreed to sell its office equipment manufacturing business to Flextronics International Ltd. of Singapore for about $220 million as part of an effort to return to profitability. The sale will cut Xerox's total production roughly in half and save $1 billion in annual costs. About 4,900 Xerox jobs will be transferred to Flextronics, and 1,100 more will be cut, said Christa Carone, spokeswoman for the Stamford, Conn.-based company.
BUSINESS
October 3, 2001 | From Times Staff and Wire Reports
Struggling copier maker Xerox Corp. said Tuesday that it has agreed to sell its office equipment manufacturing business to Flextronics International Ltd. of Singapore for about $220 million as part of an effort to return to profitability. The sale will cut Xerox's total production roughly in half and save $1 billion in annual costs. About 4,900 Xerox jobs will be transferred to Flextronics, and 1,100 more will be cut, said Christa Carone, spokeswoman for the Stamford, Conn.-based company.
BUSINESS
July 3, 2001 | Bloomberg News
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.
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