What if I told you Flex LTD has roots stretching back to 1969? It began as Flextronics Inc. Flex LTD stands as a testament to Singapore’s role in global manufacturing.
Flex LTD is not just any company. It is a Singapore-domiciled multinational manufacturing powerhouse. Flex is among the largest global electronics manufacturing services companies. It ranks behind only Pegatron for original equipment manufacturers. The U.S. corporate headquarters operate from Austin, Texas.
In 1990, the company embraced its international identity. Flextronics International, Ltd. was registered in Singapore. Venture capital funding arrived in 1993 through Sequoia Capital. The company became publicly held again in 1994. IndustryWeek recognized Flextronics. It ranked them third on “100 Best-Managed Companies” in 2000.
Flex LTD has a global presence. The company has manufacturing operations in over 30 countries. These operations engage approximately 172,000 employees.
Flex LTD faced both successes and challenges. In 2006, Flextronics took over part of Lego’s production. By 2009, Lego ended relations and purchased the facilities back. Flextronics offered to purchase Solectron for US$3.6 billion in 2007. This acquisition made Solectron a subsidiary.
The NASDAQ stock market recognized Flextronics. In 2009, they were invited to ring the opening bell. This celebrated their 15-year anniversary of being NASDAQ-listed. LG Electronics selected Flextronics to manufacture LCD television receivers. Multek, a Flextronics company, received Danaher Test and Measurement’s award. This award was based on quality and engineering support.
Flex LTD partnered with Brammo Inc. in 2010. They aimed to manufacture electric motorcycles. Flextronics also signed an agreement with Lenovo for European manufacturing.
Elementum, a supply chain management company, was incubated by Flextronics in 2012. It later spun off as a separate entity.
The company faced controversy in 2014. Flextronics manufactured the Fitbit Force. The product was recalled due to users developing rashes.
The name changed in July 2015. Flextronics officially became Flex. Flex acquired Nextracker, a solar tracker company, for $330 million. Wink, a smart home platform, was acquired in November 2015. Flex sold Wink to i.am+ in July 2017.
Michael M. McNamara resigned as CEO at the end of 2018. Revathi Advaithi became CEO in February 2019.
Flex LTD faced a breach of contract lawsuit. Beckman Coulter Inc. claimed damages. A former executive leaked confidential USB charger data. In 2019, Huawei goods were seized due to tariff disputes.
Today, Flex LTD continues to evolve. It provides design, engineering, and supply chain services. The company serves various industries globally. Flex is headquartered right here in Singapore. Flex LTD stands as a vital player in the electronics manufacturing landscape. Its journey reflects adaptability. It shows strategic growth in a dynamic global market.