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 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.
September 4, 2002 |
Microsoft Corp. hired a unit of Taiwan's Acer Inc. to make the Xbox video game console, seeking to cut costs and close the gap with market leaders Sony Corp. and Nintendo Co. Wistron Corp., the manufacturing arm of computer maker Acer, will make the console in its plant in Zhongshan, China, by the end of the year. Slack demand for the Xbox prompted the world's biggest software maker to drop prices in Europe for the second time last week.
June 5, 2007 |
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.