Flex

History

2021: Purchase of Anord Mardix Data Center Power Equipment Developer

On October 18, 2021, Flex announced a final agreement to acquire Anord Mardix, a global leader in critical power solutions, from Bertram Capital, a private investment company. This acquisition will fill up a portfolio of food of the Flex company and will expand its offers in the market of the data-processing centers (DPC). The $540 million transaction for the cash settlement was unanimously approved by the Flex Board of Directors and will be completed in the fourth quarter of calendar year 2021, subject to normal closing conditions, including regulatory approval. More details here.

2019: Termination of cooperation with Huawei

On July 25, 2019, it became known that the contract electronics manufacturer Flex held already assembled Huawei devices in its warehouses for more than a month after announcing Washington's sanctions against the Chinese company.

According to the Global Times newspaper, Flex refused to transfer equipment worth 700 million yuan ($101.85 million) to Huawei, which was manufactured at a factory in Zhuhai  (Guangdong province, China).

Partner refused to supply Huawei with already manufactured electronics for $100 million due to sanctions and paid

As Guo Fulin, president of global media relations at Huawei, told Reuters, after negotiations with Flex, it was possible to return equipment worth 400 million yuan. The rest of the products remain with Flex by July 25, 2019.

We cannot understand why their Chinese factory seized our goods. This is too distorted an interpretation of the ban, "he said.

Global Times writes that Huawei terminated relations with Flex, as what happened "angered" the company. Guo Fulin declined to comment on this.^[1]

The publication DigiTimes, citing the Chinese press, reports that Flex really stopped the production of Huawei smartphones in China. As a result, Huawei gave orders to other companies - BYD Electronics International and Foxconn Electronics. In addition to mobile phones, Flex manufactured base stations for 5G networks and other equipment for Huawei.

At the end of May 2019, Nikkei, referring to its informants, wrote about the partial suspension of production lines at the Flex plant in Zhuhai. Then the interlocutors said that the company made such a decision because of the decision of the US Ministry of Trade to include Huawei in the black list.

According to the Economic Times, Flex also stopped the production of equipment for Huawei and its subsidiaries at three Indian factories.

According to IDC analysts, Huawei collects only about 10% of its smartphones on its own, and most of the devices are manufactured at ODM manufacturers, including Flex.

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