Jabil

Jabil Inc. is an American multinational manufacturing company involved in the design, engineering, and manufacturing of electronic circuit board assemblies and systems, along with supply chain services, primarily serving original equipment manufacturers.<ref name="cengage2018"/><ref>Template:Cite web</ref> It is headquartered in the Gateway area of St. Petersburg, Florida. It is one of the largest companies in the Tampa Bay area.<ref>Template:Cite web</ref><ref>Template:Cite webTemplate:Dead linkTemplate:Cbignore</ref>

History

Founded in 1966 in the Detroit area, Jabil initially focused on circuit board assembly production and repair for Control Data Systems.<ref name="cengage2018">Template:Cite web</ref> The company name, Jabil, derives from the combination of the first names of its founders, James Golden and Bill Morean.<ref name="cengage2018"/> 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 a majority stake in the company.<ref name="cengage2018"/>

In 1979, Jabil established a high-volume manufacturing partnership with General Motors (GM), moving towards automated manufacturing and advanced assembly technology.<ref name="cengage2018"/>

In 1981, Jabil introduced independent test engineering and development services.<ref name="cengage2018"/> A year later, the company started volume production of circuit boards with manual surface-mount technology (SMT) processes.<ref name="cengage2018"/> By 1984, Jabil had implemented computer-aided design services for production.<ref name="cengage2018"/> A year later, the company transitioned to highly automated volume production using SMT processes.<ref name="cengage2018"/> Towards the end of the 1980s, Jabil adopted the automated tape-automated bonding (TAB) process for circuit board production.<ref name="cengage2018"/><ref>Template:Cite news</ref>

In 1982, Jabil moved its headquarters from Detroit to St. Petersburg, Florida.<ref name="cengage2018"/>

In April 1993, Jabil became a publicly traded company, listing its shares on the New York Stock Exchange.<ref>Template:Cite news</ref><ref>Template:Cite web</ref>

In 1997, Jabil expanded its manufacturing capacity and workforce, completing a new 120,000-square-foot building in St. Petersburg.<ref name="cengage2018"/>

In 2001, Jabil was added to the S&P 500 Index.<ref>Template:Cite web</ref>

In 2013, William D. Morean retired and was succeeded by Timothy Main as board chairman.<ref name="TBJ3121">Template:Cite news</ref><ref name="TBJ312">Template:Cite news</ref> Later, William E. Peters was named president and Mark Mondello was appointed CEO.<ref name="TBJ312"/>

In 2014, Jabil was moved from the S&P 500 Index to the S&P MidCap 400 Index.<ref>Template:Cite web</ref>

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.<ref>Template:Cite web</ref> Jabil laid off approximately 400 people in September 2016, 100 of those being corporate employees located in St. Petersburg Florida.<ref>Template:Cite web</ref> In March 2024, the company announced it would lay off 120 workers in Vancouver, Washington.<ref>Template:Cite news</ref>

In January 2023, it was reported that Jabil had started manufacturing components for AirPods in India.<ref>Template:Cite web</ref> In December 2023, Jabil rejoined the S&P 500 index.<ref>Template:Cite news</ref><ref>Template:Cite news</ref>

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.<ref>Template:Cite web</ref> Following the completion of the investigation, Wilson resigned from the company and Dastoor was named CEO.<ref>Template:Cite web</ref>

Acquisitions and mergers

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.<ref name="Hoovers"/><ref>Template:Cite web</ref>

In 1999, Jabil began its operations in China by acquiring GET Manufacturing.<ref>Template:Cite web</ref><ref>Template:Cite news</ref><ref>Template:Cite web</ref>

In 2001, Jabil expanded its manufacturing capability and acquired Intel's manufacturing facility in Malaysia.<ref>Template:Cite web</ref> A year later, the company acquired a factory of Lucent Technologies in Shanghai.<ref>Template:Cite web</ref><ref>Template:Cite web</ref> In 2002, the company also acquired contract manufacturing services of Philips.<ref>Template:Cite web</ref><ref>Template:Cite web</ref><ref>Template:Cite web</ref>

In 2005, Jabil acquired Varian's electronics manufacturing business for $195 million.<ref>Template:Cite web</ref><ref>Template:Cite web</ref><ref>Template:Cite web</ref> A year later, Jabil expanded its operations to Taiwan and acquired Green Point for $881 million through its subsidiary Jabil Circuit Taiwan.<ref>Template:Cite web</ref><ref>Template:Cite web</ref>

In 2011, Jabil acquired Telmar Network, a communication network service provider based in Texas.<ref>Template:Cite web</ref><ref>Template:Cite web</ref>

In February 2013, Jabil acquired Nypro for $665 million in cash.<ref>Template:Cite news</ref> The purchase was completed in July 2013.<ref name="MargaretCashillJabil">Template:Cite news</ref><ref name="PlasticosPressRelease">Template:Cite web</ref>

In 2015, Jabil acquired Shemer Group, an Israeli metal fabrication company specializing in contract manufacturing for high-tech capital equipment manufacturers.<ref>Template:Cite web</ref><ref>Template:Cite news</ref> In the same year, the company acquired Plasticos Castella, a Spain-based food and consumer packaging manufacturer.<ref>Template:Cite webTemplate:Dead link</ref>

In 2018, Jabil acquired the medical devices business of Johnson & Johnson.<ref>Template:Cite web</ref><ref>Template:Cite web</ref>

In 2021, Jabil acquired Ecologic Brands.<ref name="auto">Template:Cite web</ref>

In August 2023, Jabil sold its mobility business in China to BYD.<ref name="auto"/> In November 2023, Jabil acquired the Silicon Photonics business of Intel.<ref>Template:Cite web</ref><ref>Template:Cite web</ref>

In November 2023, Jabil acquired ProcureAbility.<ref>Template:Cite web</ref>

External links

• Template:Official website