Molex

Last updated
Molex Incorporated
Type Subsidiary of Koch Industries
Industry Electronics
Founded1938
Headquarters
Lisle, Illinois
,
United States
Products Electrical connectors, Molex connector, Optical fiber connectors, Switches
Revenue$3.6bn (June 30, 2013) [1]
$243m (June 30, 2013) [2]
Number of employees
45,000 [3]
Parent Koch Industries
Website www.molex.com

Molex LLC is a manufacturer of electronic, electrical, and fiber optic connectivity systems. Molex offers over 100,000 products across a variety of industries, including data communications, medical, industrial, automotive and consumer electronics. They are notable for pioneering the Molex connector, which has seen universal adoption in personal computing. The company is considered the second largest electronic connector company in the world. [4]

History

Molex was established in 1938 by Frederick Krehbiel. [5] The company began by making flowerpots out of an industrial byproduct plastic called Molex. Krehbiel developed this material by combining asbestos tailings, coal tar pitch, and limestone. [4] Aside from flower pots, Molex also sold salt shakers before it expanded into electrical connectors and sensors. [5] Later they made connectors for General Electric and other appliance manufacturers out of the same plastic. [6] Molex acquired Woodhead Industries in 2006; [7] the largest acquisition in the former's history at the time.

On February 14, 2005, Molex announced its results for the six months ended December 31, 2004, that reflect certain adjustments to its results of operations for the first fiscal quarter ended September 30, 2004. [8] In March 2005, a class action lawsuit against Molex Inc. and certain of its officers and directors for artificially inflating the market price through materially false and misleading statements was announced. [9] In 2007, a settlement of $10.5 million fund plus interest was reached. [10]

In 2009, Hermann Simon mentioned this company as an example of a "Hidden Champion". [11] During this period, Molex already operated 59 manufacturing plants all over the world, posting a sustained 12% annual growth rate. [11] Following another expansion strategy, the company started producing complex, three-dimensional electronic components for medical applications in 2011. [12]

In September 2013, Koch Industries purchased Molex for $7.2 billion. [13] Koch indicated Molex will retain its company name and headquarters in Lisle, Illinois, and be run as a subsidiary. [14] [15]

In November 2016, Molex acquired the Wisconsin-based Phillips-Medisize. As a private equity investment firm, Phillips-Medisize specializes in plastic injection molding and the manufacture of medical instruments. Phillips-Medisize incorporates a wide variety of products and services, including drug delivery, mobile and portable medical devices, and primary pharmaceutical packaging and diagnostic products. Employing 5,400 people in 21 locations worldwide, Phillips-Medisize operates as an indirect subsidiary of Molex. [16] [17]

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References

  1. ↑ "Koch Industries, Inc. Completes Purchase of Molex Incorporated" (PDF). Molex.com (Press release). Molex Incorporated; Koch Industries. December 9, 2013. Retrieved June 2, 2018.
  2. ↑ "Molex Reports Fourth Quarter and Full Fiscal Year Results" (PDF). Molex.com (Press release). August 7, 2013. Retrieved June 2, 2018.
  3. ↑ "Quick Facts About Molex". Molex.com. Retrieved October 6, 2020.
  4. 1 2 "Molex Inc | Encyclopedia.com". www.encyclopedia.com. Retrieved 2022-07-13.
  5. 1 2 Fisher, Daniel. "Koch's $7.2 Billion Molex Purchase Puts Founding Family In Billonaire's Circle". Forbes. Retrieved 2022-07-13.
  6. ↑ James, Geoffrey (November 1, 2005). "The 10 most significant companies". reed-electronics.com. Archived from the original on March 28, 2006. Retrieved June 2, 2018.
  7. ↑ "Molex Completes Acquisition of Woodhead Industries". Molex.com (Press release). August 10, 2006. Retrieved June 2, 2018.
  8. ↑ "Molex Announces Preliminary 2005 Fiscal Second Quarter and Six Month Results; Provides Guidance for Third and Fourth Fiscal Quarters". Molex.com (Press release). February 14, 2005.
  9. ↑ "Molex Incorporated Faces Securities Fraud Suit Says Chicago Law Firm Much Shelist -- MOLX". globenewswire.com (Press release). Chicago. Primezone. March 31, 2005. Retrieved June 2, 2018.
  10. ↑ "Molex Incorporated Class Action Lawsuit". Securities Class Action Clearinghouse. Stanford Law School, Stanford University. Archived from the original on 2013-11-03 – via securities.stanford.edu.
  11. 1 2 Simon, Hermann (2009). Hidden Champions of the 21st Century : Success Strategies of unknown World Market Leaders. London: Springer. pp. 10, 94. ISBN   978-0-387-98147-5.
  12. ↑ "Molex transfers 3D electronics to medical devices". plasticstoday.com. 2011-11-07. Retrieved 2022-07-13.
  13. ↑ Cosnard, Denis (September 10, 2013). "Les 'infâmes frères Koch' s'offrent un nouveau grand nom de l'industrie" [The 'infamous Koch brothers' give themselves a new big name in the industry]. Le Monde (in French). Retrieved June 2, 2018.
  14. ↑ "Molex jumps 32% on Koch Industries' $7.2B takeover". Chicago Tribune. Reuters. September 9, 2013.
  15. ↑ "Koch Industries buying electronics maker Molex for $7.2 billion". Los Angeles Times. September 9, 2013.
  16. ↑ "Molex completes acquisition of Phillips-Medisize Corporation". Medical Plastic News. November 7, 2016. Retrieved June 2, 2018.
  17. ↑ "Molex completes acquisition of Phillips-Medisize". pim-international.com. February 17, 2017. Retrieved June 2, 2018.
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