Molex Expands Flex Circuit Capabilities With Aflextech, Inc. Acquisition
Lisle, IL, USA - July 1, 2008 -- Molex Incorporated (NASDAQ:MOLX and MOLXA), a global electronic components company, today said that it has completed its previously announced- acquisition of Taipei, Taiwan-based AFlextech, Inc.
AFlextech, Inc. designs and manufactures a variety of flexible circuits and assemblies that provide innovative power and signal interconnect solutions in a unitized package that also helps lower total applied costs and enhances reliability of the finished assembly.
According to Todd Hester, Molex's Vice President and General Manager of the Printed Circuit Products unit of the Global Integrated Products Division, this is a strategic acquisition that will help Molex boost its share of the global flex circuit market.
"AFlextech is an excellent fit for Molex because it expands our flex circuit capabilities in terms of product offerings and markets as well as geographically," said Hester. "AFlextech specializes in 1 to 10 layer flex circuits for applications that include consumer handheld devices such as smart phones and personal medical electronics as well as computer peripherals, data storage and automotive. We already offer more complex circuits of up to 20 layers for military, datacom, industrial and large medical equipment through our Copper Flex Products business in St. Paul, Minnesota. So now we can offer a wide range of flex circuit products, supported by our connector design and technical expertise, in both the U.S. and Asia. And because AFlextech was a Molex supplier, we are familiar not only with their solid capabilities but with their commitment to quality and customer service. AFlextech has technical expertise, a strong customer base, and an excellent group of talented and experienced people. With Molex's global resources we are confident that together we will grow even faster in rapidly expanding market for flex circuit boards."
According to Sando Chen, General Manager, AFlextech Inc., the company also offers Molex expanded capabilities for SMT, through-hole and hybrid assembly in addition to flex circuit capabilities.
"The combination of Molex's global footprint and resources with AFlextech's flex circuit expertise and assembly services will help expand our offerings globally," Chen said. "The employees and management staff at AFlextech are excited to join the Molex family."
AFlextech Inc., which was founded in 2003, has sales of approximately $25 million and has 300 employees. It will operate as a subsidiary of Molex Incorporated and will be part of the company's Global Integrated Products Division.
Molex Incorporated is a 70-year-old manufacturer of interconnection systems, including electrical and fiber optic interconnection products and systems, switches and integrated products, with 59 plants in 19 countries throughout the world.
Editor's note: Molex is traded on the NASDAQ Global Select Market (MOLX and MOLXA) in the United States and on the London Stock Exchange. The Company's voting common stock (MOLX) is included in the S&P 500 Index.
Investors Contact: Neil Lefort
Senior Vice President
Telephone: (630) 527-4334
E-mail: neil.lefort@Molex.com
Editorial Contact: Susan Armitage
Director of Public Relations
Telephone: 630-527-4561
E-mail: susan.armitage@molex.com
Product Information Contact:
Gary Manchester
Director of Product Marketing
Telephone: 630-527-4043
Email: gary.manchester@molex.com
