-
- News
- Books
Featured Books
- smt007 Magazine
Latest Issues
Current IssueSolder Printing
In this issue, we turn a discerning eye to solder paste printing. As apertures shrink, and the requirement for multiple thicknesses of paste on the same board becomes more commonplace, consistently and accurately applying paste becomes ever more challenging.
A Culture of Thriving
One cannot simply command thriving; it must be nurtured, developed, and encouraged. In this issue, we explore strategies to improve your working relationship model—both internally and externally. In this culture of thriving, your business will grow in the process.
Certifications
Certifications have historically been seen as a cost of doing business, but how do we turn them into a positive ROI and a value to both customer and vendor?
- Articles
- Columns
Search Console
- Links
- Events
||| MENU - smt007 Magazine
Flex Enters Agreement to Acquire AGM Automotive
February 22, 2017 | FlexEstimated reading time: 1 minute
![](https://iconnect007.com/application/files/9516/3116/4377/acquisition_fish.jpg)
Flex has entered into a definitive agreement to acquire AGM Automotive (AGM), a global supplier of automotive interior components and systems, including overhead console systems, interior lighting, electronic components and textile flooring solutions. Providing high quality and innovative automotive interior solutions, AGM is a trusted design partner of major original equipment manufacturers (OEMs) around the globe. AGM is headquartered in Troy, Michigan, with additional facilities in the US, Mexico, Costa Rica, Austria and China.
"AGM is a highly respected, award-winning provider of automotive interior components and systems," said Chris Obey, president of Automotive at Flex. "This strategic acquisition will complement and expand our automotive offerings, particularly in lighting, and will further strengthen certain key strategic customer relationships. The addition of AGM will enhance our ability to provide customers with more complete solutions for innovative interior lighting systems, from plastics through electronics, and drive greater growth of our dollar content per vehicle."
"AGM is excited to be joining Flex," said Robert M. Blinstrub, president and CEO of AGM. "With Flex's solid automotive business, broad global footprint and strong culture of forward-looking technological innovation, our integrated offering will increase our reputation as a provider of world-class automotive solutions to our customers."
The acquisition is expected to close in the second quarter of calendar year 2017. Additional terms of the deal were not disclosed. Completion of the transaction is subject to customary closing conditions, including regulatory approvals. The transaction will be immediately accretive to EPS and generate positive free cash flow. Flex intends to fund the acquisition from currently available resources, and remains committed to its target of returning over 50% of annual free cash flow to shareholders.
About Flex
Flex is the Sketch-to-Scale™ solutions provider that designs, manufactures and distributes intelligent products for a connected world™. With approximately 200,000 professionals across 30 countries, Flex provides innovative design, engineering, manufacturing, real-time supply chain insight and logistics services to companies of all sizes in various industries and end-markets. For more information, visit flex.com or follow us on Twitter @flexintl. Flex – Live Smarter™
Suggested Items
HANZA CEO Erik Stenfors Participated at Stora Aktiedagarna
06/21/2024 | HANZAErik Stenfors, CEO of HANZA, gave a presentation at Aktiespararnas event Stora Aktiedagarna.
TactoTek Licenses IMSE Technology to Polestar for Sustainable Electronics Design Innovation
05/15/2024 | TactoTekPolestar, the Swedish electric performance car brand, and Finnish smart surface pioneer TactoTek, have entered a collaboration to explore integration of Injection Molded Structural Electronics (IMSE) technology into Polestar’s vehicle programs.
Demand Rebounds, Global LED Industry Revenue Expected to Grow 3% in 2024 with Market Focus on Automotive Displays
04/01/2024 | TrendForceTrendForce’s latest LED industry report indicates that the global market is set to recover in 2024, with estimated revenues reaching US$13 billion—marking a YoY growth of 3%.
New Features Boost Speed, Accuracy, Ease of Use for YAMAHA AOI System
03/18/2024 | Yamaha Robotics SMT SectionYamaha Robotics has announced Performance-boosting upgrades for the YAMAHA YRi-V 3D AOI system. These upgrades include faster board handling, multi-component alignment checking, and enhanced LED coplanarity measurement, among others.
Red Sky Lighting's High-Temperature Light Earns First UL Verification Worldwide
02/06/2024 | Red Sky LightingRed Sky Lighting, a leading manufacturer of LED lighting for industrial applications, proudly announces that its High Bay Hot Series has received a UL Verification (V-Mark) for 10,000 Hours projected lumen maintenance at an ambient temperature of 176°F (80°C).