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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.[5] It is headquartered in the Gateway area of St. Petersburg, Florida. It is one of the largest companies in the Tampa Bay area.[6][7]

History

Founded in 1966 in the Detroit area, Jabil initially focused on circuit board assembly production and repair for Control Data Systems.[8] The company name, Jabil, derives from the combination of the first names of its founders, James Golden and Bill Morean.[8] 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.[8]

In 1979, Jabil established a high-volume manufacturing partnership with General Motors (GM), moving towards automated manufacturing and advanced assembly technology.[8]

In 1981, Jabil introduced independent test engineering and development services.[8] A year later, the company started volume production of circuit boards with manual surface-mount technology (SMT) processes.[8] By 1984, Jabil had implemented computer-aided design services for production.[8] A year later, the company transitioned to highly automated volume production using SMT processes.[8] Towards the end of the 1980s, Jabil adopted the automated tape-automated bonding (TAB) process for circuit board production.[8][9]

In 1982, Jabil moved its headquarters from Detroit to St. Petersburg, Florida.[8]

In April 1993, Jabil became a publicly traded company, listing its shares on the New 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.[8]

In 2001, Jabil was added to the S&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 the S&P 500 Index to the S&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 in Vancouver, Washington.[18]

In January 2023, it was reported that Jabil had started manufacturing components for AirPods in 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

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 of Johnson & Johnson.[47][48]

In 2021, Jabil acquired Ecologic Brands.[49]

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

In November 2023, Jabil acquired ProcureAbility.[52]

In January 2026, it was announced that Jabil had acquired Hanley Energy Group, a provider of energy management and critical power systems for data centre infrastructure. The all-cash transaction, completed on 2 January 2026, was valued at approximately $725 million, with additional contingent consideration linked to future revenue targets.[53]

External links

References

  1. Jabil Locations Jabil, retrieved 20 November 2020^
  2. Jabil Yahoo! Finance information Yahoo Finance, retrieved 25 June 2012^
  3. Jabil FY 2024 10K Annual Report U.S. Securities and Exchange Commission, 28 October 2024^
  4. Jabil Circuit, Inc. History hoovers.com, retrieved 25 June 2012^
  5. Jabil–The Manufacturing Giant You've Never Heard Of–Steps Out of the Shadows Fast Company, 6 May 2015^
  6. In Slower Economy, More Cautious Jail Circuit Still Expects Third Record Year retrieved 25 June 2012^
  7. Jabil, Fortune 500 Fortune, retrieved 21 November 2018^
  8. Jabil Circuit, Inc Cengage^
  9. Labouring in obscurity: electronics manufacturing The Economist, September 17, 1994^
  10. Equity Issues This Week The New York Times, April 26, 1993, retrieved 25 June 2012^
  11. Investor FAQ retrieved 25 June 2012^
  12. Anthony Salveggi. Jabil Flexes Its Muscles Amidst Tampa Bay Business Journal, 9 May 2005, retrieved 27 August 2012^
  13. William D. Morean To Retire From Jabil Tampa Bay Business Journal, 18 October 2012, retrieved 1 March 2013^
  14. Margie Manning. Jabil Shakes Up Executive Ranks Tampa Bay Business Journal, 31 January 2013, retrieved 1 March 2013^
  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 retrieved 2017-04-04^
  17. Jabil Circuit laying off 400 workers, including nearly 100 in St. Petersburg Tampa Bay Times, 9 September 2015, retrieved 4 April 2017^
  18. Mike Rogoway. Electronics manufacturer Jabil will lay off 120 in Vancouver www.msn.com, The Oregonian, 2024-03-04^
  19. Apple's India supplier Jabil making AirPods parts for export-Bloomberg Reuters, 30 January 2023, retrieved 2024-04-05^
  20. Uber, Jabil and Builders FirstSource Set to Join S&P 500 Bloomberg, December 1, 2023^
  21. Ben Glickman. Uber, Jabil, Builders FirstSource to Join S&P 500 WSJ, retrieved 2024-04-05^
  22. Jabil's stock declines as CEO Kenny Wilson goes on paid leave pending an investigation Morningstar, Inc., 2024-04-18, retrieved 2024-04-19^
  23. Amanda Gerut. CEO at $14 billion electronics firm can't talk about his resignation following an internal investigation Fortune, May 24, 2024, retrieved 2024-05-26^
  24. Jabil Global Services Netherlands B.V. retrieved 27 August 2012^
  25. Jabil Circuit moves into China with acquisition of GET Manufacturing EE Times, 1999-09-13, retrieved 2024-06-04^
  26. Jabil Circuit in $250 Million Deal for Get Manufacturing The New York Times, 1999-08-06, retrieved 2024-04-19^
  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, retrieved 2024-04-19^
  29. Jabil Circuit to acquire Lucent factory in Shanghai EE Times, 2002-05-23, retrieved 2024-06-04^
  30. Jabil buys Lucent's Shanghai assets www.bizjournals.com, retrieved 2024-04-19^
  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, retrieved August 5, 2024^
  33. Jabil buys Philips consumer electronics division www.bizjournals.com, retrieved 2024-04-19^
  34. Jabil to acquire EMS business of Varian EE Times, 2005-02-07, retrieved 2024-06-04^
  35. Varian Deal Is 'Positive' For Jabil Circuit Forbes^
  36. Jabil Circuit to Buy Varian Unit - WSJ Wall Street Journal, 8 February 2005^
  37. Jabil Circuit to buy Taiwan's Green Point for US$881 MLN Reuters, 9 August 2007^
  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. John Keller. Jabil enhances expertise in reverse logistics and repair services with acquisition of Telmar Network Technology Military Aerospace, December 4, 2011^
  41. Eric Savitz. Jabil Circuit To Buy Nypro For $665 million In Cash Forbes, 4 February 2013, retrieved 12 August 2013^
  42. Margaret Cashill. Jabil Circuit Completes Nypro Deal Tampa Bay Business Journal, 1 July 2013, retrieved 12 August 2013^
  43. Nypro Moves into Smart Packaging, Extending Reach into Europe and Food & Beverage Markets 28 September 2015, retrieved 28 October 2015^
  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. Wayne Heilman. Johnson & Johnson turning over Monument operation to Jabil Colorado Springs Gazette, November 5, 2018^
  49. BYD unit buys US firm Jabil's China mobility business for $2.2 billion CNN, August 28, 2023^
  50. Jabil to Acquire Intel's Silicon Photonics Business Tom's Hardware, October 31, 2023^
  51. Joseph F. Kovar. Intel Offloads Silicon Photonics Product Line To Jabil | CRN www.crn.com^
  52. ProcureAbility now backed by Jabil Inc. November 1, 2023^
  53. Joe Peck. Jabil acquires Hanley Energy Group Data Centre & Network News, 2026-01-06, retrieved 2026-01-06^