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Jabil

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Jabil Inc.
Company typePublic
IndustryElectronics Manufacturing Services[1]
Founded1966;58 years ago(1966)inDetroit, Michigan,U.S.
Founders
  • William E. Morean
  • James Golden
HeadquartersSt. Petersburg, Florida,U.S.
Number of locations
30 countries[2]
Area served
Worldwide
Key people
Mark Mondello (Chairman)[3]
Mike Dastoor (CEO)
Gregory Hebard (CFO)
RevenueIncreaseUS$34.7 billion(2023)[3]
IncreaseUS$1.54 billion (2023)[3]
DecreaseUS$818 million (2023)[3]
Total assetsDecreaseUS$19.4 billion (2023)[3]
Total equityIncreaseUS$2.87 billion (2023)[3]
Number of employees
236,000 (2023)[3]
Websitejabil.com
Footnotes / references
[4]

Jabil Inc.is an Americanmultinationalmanufacturing company involved in the design, engineering, and manufacturing of electronic circuit board assemblies and systems, along with supply chain services, primarily servingoriginal equipment manufacturers.[5][6]It is headquartered in theGateway areaofSt. Petersburg, Florida.It is one of the largest companies in theTampa Bay area.[7][8]

History

[edit]

Founded in 1966 in the Detroit area, Jabil initially focused oncircuit boardassembly production and repair for Control Data Systems.[5]The company name, Jabil, derives from the combination of the first names of its founders, James Golden and Bill Morean.[5]After Golden exited the business, Bill Morean's son, William, joined the company and gradually began to shape its direction by signing new contracts, including an offer to purchase amajority stakein the company.[5]

In 1979, Jabil established a high-volume manufacturing partnership withGeneral Motors(GM), moving towards automated manufacturing and advanced assembly technology.[5]

In 1981, Jabil introduced independent test engineering and development services.[5]A year later, the company started volume production of circuit boards with manualsurface-mount technology(SMT) processes.[5]By 1984, Jabil had implementedcomputer-aided designservices for production.[5]A year later, the company transitioned to highly automated volume production using SMT processes.[5]Towards the end of the 1980s, Jabil adopted the automatedtape-automated bonding(TAB) process for circuit board production.[5][9]

In 1982, Jabil moved its headquarters fromDetroittoSt. Petersburg, Florida.[5]

In April 1993, Jabil became a publicly traded company, listing its shares on theNew York Stock Exchange.[10][11]

In 1997, Jabil expanded its manufacturing capacity and workforce, completing a new 120,000-square-foot building in St. Petersburg.[5]

In 2001, Jabil was added to theS&P 500 Index.[12]

In 2013, William D. Morean retired and was succeeded by Timothy Main as board chairman.[13][14]Later, William E. Peters was named president and Mark Mondello was appointed CEO.[14]

In 2014, Jabil was moved from theS&P 500 Indexto theS&P MidCap 400 Index.[15]

In 2017, Jabil announced that it would be closing its first European international plant in Livingston, United Kingdom, by the end of the year. Two hundred sixty-six employees in Livingston would lose their jobs.[16]Jabil laid off approximately 400 people in September 2016, 100 of those being corporate employees located in St. Petersburg Florida.[17]In March 2024, the company announced it would lay off 120 workers inVancouver,Washington.[18]

In January 2023, it was reported that Jabil had started manufacturing components forAirPodsin India.[19]In December 2023, Jabil rejoined the S&P 500 index.[20][21]

On 19 April 2024, Jabil announced that CEO Kenny Wilson would take paid leave pending an investigation related to company policies, although not affecting the company's financial statements or reporting. Following Wilson's leave, which began on April 15, CFO Michael Dastoor was appointed as interim CEO by the board of directors.[22]Following the completion of the investigation, Wilson resigned from the company and Dastoor was named CEO.[23]

Acquisitions and mergers

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Jabil has acquired numerous companies and arms of companies. Their acquisitions have expanded their presence in countries such as China, Mexico, India, Spain, the Netherlands and Russia.[4][24]

In 1999, Jabil began its operations in China by acquiring GET Manufacturing.[25][26][27]

In 2001, Jabil expanded its manufacturing capability and acquired Intel's manufacturing facility in Malaysia.[28]A year later, the company acquired a factory of Lucent Technologies in Shanghai.[29][30]In 2002, the company also acquired contract manufacturing services of Philips.[31][32][33]

In 2005, Jabil acquired Varian's electronics manufacturing business for $195 million.[34][35][36]A year later, Jabil expanded its operations to Taiwan and acquired Green Point for $881 million through its subsidiary Jabil Circuit Taiwan.[37][38]

In 2011, Jabil acquired Telmar Network, a communication network service provider based in Texas.[39][40]

In February 2013, Jabil acquired Nypro for $665 million in cash.[41]The purchase was completed in July 2013.[42][43]

In 2015, Jabil acquired Shemer Group, an Israeli metal fabrication company specializing in contract manufacturing for high-tech capital equipment manufacturers.[44][45]In the same year, the company acquired Plasticos Castella, a Spain-based food and consumer packaging manufacturer.[46]

In 2018, Jabil acquired the medical devices business ofJohnson & Johnson.[47][48]

In 2021, Jabil acquired Ecologic Brands.[49]

In August 2023, Jabil sold its mobility business in China toBYD.[49]In November 2023, Jabil acquired the Silicon Photonics business of Intel.[50][51]

In November 2023, Jabil acquiredProcureAbility.[52]

References

[edit]
  1. ^"Jabil Yahoo! Finance information".Yahoo Finance.Retrieved25 June2012.
  2. ^"Jabil Locations".Jabil.Archived fromthe originalon 10 July 2022.Retrieved20 November2020.
  3. ^abcdefg"Jabil 2023 10K Annual Report".U.S. Securities and Exchange Commission.20 October 2023.
  4. ^ab"Jabil Circuit, Inc. History".hoovers.com.Retrieved25 June2012.
  5. ^abcdefghijkl"Jabil Circuit, Inc".Cengage.
  6. ^https://www.fastcompany.com/3045936/jabil-circuit[bare URL]
  7. ^"In Slower Economy, More Cautious Jail Circuit Still Expects Third Record Year".Archived fromthe originalon 2012-06-24.Retrieved25 June2012.
  8. ^"Jabil, Fortune 500".Fortune.Retrieved21 November2018.[dead link]
  9. ^"Labouring in obscurity: electronics manufacturing".The Economist.September 17, 1994.
  10. ^"Equity Issues This Week".The New York Times.April 26, 1993.Retrieved25 June2012.
  11. ^"Investor FAQ".Archived fromthe originalon 2012-06-15.Retrieved25 June2012.
  12. ^Salveggi, Anthony (9 May 2005)."Jabil Flexes Its Muscles Amidst".Tampa Bay Business Journal.Retrieved27 August2012.
  13. ^"William D. Morean To Retire From Jabil".Tampa Bay Business Journal.18 October 2012.Retrieved1 March2013.
  14. ^abManning, Margie (31 January 2013)."Jabil Shakes Up Executive Ranks".Tampa Bay Business Journal.Retrieved1 March2013.
  15. ^"Jabil Circuit Is Moving From S&P 500 to S&P Midcap 400".Tampa Bay Times.
  16. ^"Level 3 Jobs threatened at Jabil electronics plant in Livingston".Archived fromthe originalon 2017-04-04.Retrieved2017-04-04.
  17. ^"Jabil Circuit laying off 400 workers, including nearly 100 in St. Petersburg".Tampa Bay Times. 9 September 2015.Retrieved4 April2017.
  18. ^Rogoway, Mike (2024-03-04)."Electronics manufacturer Jabil will lay off 120 in Vancouver".www.msn.com.The Oregonian.
  19. ^"Apple's India supplier Jabil making AirPods parts for export-Bloomberg".Reuters.Retrieved2024-04-05.
  20. ^"Uber, Jabil and Builders FirstSource Set to Join S&P 500".Bloomberg.December 1, 2023 – via www.bloomberg.com.
  21. ^Glickman, Ben."Uber, Jabil, Builders FirstSource to Join S&P 500".WSJ.Retrieved2024-04-05.
  22. ^"Jabil's stock declines as CEO Kenny Wilson goes on paid leave pending an investigation".Morningstar, Inc.2024-04-18.Retrieved2024-04-19.
  23. ^Gerut, Amanda (May 24, 2024)."CEO at $14 billion electronics firm can't talk about his resignation following an internal investigation".Fortune.Retrieved2024-05-26.
  24. ^"Jabil Global Services Netherlands B.V."Archived fromthe originalon 21 March 2014.Retrieved27 August2012.
  25. ^"Jabil Circuit moves into China with acquisition of GET Manufacturing".EE Times.1999-09-13.Retrieved2024-06-04.
  26. ^"Jabil Circuit in $250 Million Deal for Get Manufacturing".The New York Times.1999-08-06.ISSN0362-4331.Retrieved2024-04-19.
  27. ^"Jabil buys into Chinese market".Tampa Bay Times.
  28. ^"Intel sells plant as part of outsourcing deal with Jabil".EE Times.2001-09-20.Retrieved2024-04-19.
  29. ^"Jabil Circuit to acquire Lucent factory in Shanghai".EE Times.2002-05-23.Retrieved2024-06-04.
  30. ^"Jabil buys Lucent's Shanghai assets".www.bizjournals.com.Retrieved2024-04-19.
  31. ^"Jabil buys most of Philips unit".Tampa Bay Times.
  32. ^"Jabil to Buy Contract Business From Philips for $231.1 Million".Wall Street Journal.August 28, 2002.RetrievedAugust 5,2024.
  33. ^"Jabil buys Philips consumer electronics division".www.bizjournals.com.Retrieved2024-04-19.
  34. ^"Jabil to acquire EMS business of Varian".EE Times.2005-02-07.Retrieved2024-06-04.
  35. ^"Varian Deal Is 'Positive' For Jabil Circuit".Forbes.
  36. ^"Jabil Circuit to Buy Varian Unit - WSJ".
  37. ^https://www.reuters.com/article/idUSTP160462/[bare URL]
  38. ^"Jabil takes control of the Green Point Enterprises board - Taipei Times".Taipei Times.March 10, 2007.
  39. ^"Jabil buys $145 million firm".Business Observer.August 25, 2011.
  40. ^Keller, John (December 4, 2011)."Jabil enhances expertise in reverse logistics and repair services with acquisition of Telmar Network Technology".Military Aerospace.
  41. ^Savitz, Eric (4 February 2013)."Jabil Circuit To Buy Nypro For $665 million In Cash".Forbes.Retrieved12 August2013.
  42. ^Cashill, Margaret (1 July 2013)."Jabil Circuit Completes Nypro Deal".Tampa Bay Business Journal.Retrieved12 August2013.
  43. ^"Nypro Moves into Smart Packaging, Extending Reach into Europe and Food & Beverage Markets".28 September 2015. Archived fromthe originalon 2015-10-04.Retrieved28 October2015.
  44. ^"Circuits Assembly Online Magazine - Jabil Acquires Israeli Metal Fab Company".circuitsassembly.com.
  45. ^"Jabil opens Israel optics innovation center".Globes.May 23, 2018.
  46. ^"Nypro expands smart packaging capabilities with Plasticos Castella acquisition".September 30, 2015.
  47. ^"Circuits Assembly Online Magazine - Jabil Signs $1B Deal to Acquire Johnson & Johnson Medical Sites".www.circuitsassembly.com.
  48. ^Heilman, Wayne (November 5, 2018)."Johnson & Johnson turning over Monument operation to Jabil".Colorado Springs Gazette.
  49. ^ab"BYD unit buys US firm Jabil's China mobility business for $2.2 billion".CNN.August 28, 2023.
  50. ^Anton Shilov (October 31, 2023)."Jabil to Acquire Intel's Silicon Photonics Business".Tom's Hardware.
  51. ^Kovar, Joseph F."Intel Offloads Silicon Photonics Product Line To Jabil | CRN".www.crn.com.
  52. ^"ProcureAbility now backed by Jabil Inc".November 1, 2023.
[edit]
  • Official website
  • Business data for Jabil Inc.:
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