Merix Corporation

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Script error: No such module "Infobox".Template:Template otherScript error: No such module "Check for conflicting parameters".Script error: No such module "Check for unknown parameters". Merix Corporation was an American printed circuit board (PCB) manufacturer based in Beaverton, Oregon.[1] Prior to a merger in 2010 with Viasystems, the company had been the 31st largest public company in Oregon based on market capitalization as of 2006.[2][3] The company is now part of TTM Technologies.

History

Merix Corporation was started in 1994 as a spin-off from Tektronix, Inc. in Oregon's Silicon Forest, employing 700 people.[4] Tektronix continued to own 27% of the new company.[5] The City of Portland's Office of Sustainable Development awarded Merix a BEST Award in 1997 for water conservation.[6] Merix lost $9.6 million on revenues of $87 million in 2002, and followed that with losses of $30 million in 2003 on revenues of $95 million.[7]

In December 2004, the company bought Data Circuit Systems and named the unit Merix San Jose.[7] That fiscal year, Merix returned to profitability with a $20,000 in earnings from $156 million in revenues.[7] On September 29, 2005, Merix purchased the operations of Eastern Pacific Circuits Holding Limited. Merix renamed these operations as Merix Asia.[8] In February 2007, the company was warned by NASDAQ for failing to have a full three member independent audit committee as required by NASDAQ listing rules.[9]

For the 2006 fiscal year they had revenues of $309 million and a profit of $1.4 million.[7] In January 2008, Merix announced the closing of their Wood Village, Oregon, factory they opened in 2004.[10] The company laid off 180 people company-wide as part of a restructuring plan at that time.[10] Another 230 people were laid off in early 2009,[11] and the company then lost $8.4 million on nearly $60 million in revenues in the quarter that ended in May 2009.[12]

Also in 2009, the company expanded its military and aerospace customer base, adding contracts to companies such as Rockwell Collins.[13] In October 2009, Merix announced they would merge with Viasystems with the combined entity headquartered in St. Louis, Missouri.[14] Merix reported a quarterly profit for the second quarter of their 2010 fiscal year, the first such profit since 2007.[15] The merger with Viasystems was completed in February 2010.[16] Viasystems was acquired by California-based TTM Technologies in May 2015 for $368 million.[17][18]

Operations

The company's main domestic production facility was located in Forest Grove, Oregon, in the Portland metropolitan area.[19] The Script error: No such module "convert". facility employed about 800 people and was the city's largest employer.[19] Merix's other U.S. plant is located in San Jose, California.[19] Company headquarters were in Beaverton, Oregon, also in the Portland area,[19] with Mike Burger as the chief executive officer since 2007.[13]

Merix produced printed circuit boards used in various electronic equipment worldwide. This was primarily multi-layered rigid PCBs used in the automotive industry, communications equipment, testing equipment, and the computer industry. The manufacturing facilities were located primarily in China.[20]

References

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  1. ↑ Merix Corporation (MERX). Portland Business Journal. Retrieved on March 25, 2008.
  2. ↑ Script error: No such module "citation/CS1".
  3. ↑ Merix North America. Merix. Retrieved on May 14, 2008.
  4. ↑ "Tektronix In a Spinoff", The New York Times, April 4, 1994.
  5. ↑ Company News; Tektronix, posting a loss, plans 10% cut in work force. The New York Times, September 17, 1998.
  6. ↑ 1997 BEST Winners. City of Portland, Oregon. Retrieved on March 25, 2008.
  7. ↑ a b c d Merix Corporation 2006 Annual Report. Securities and Exchange Commission. Retrieved on March 25, 2008.
  8. ↑ Merix Corporation - Company Profile Snapshot. Template:Webarchive Wright Reports. Retrieved on March 25, 2008.
  9. ↑ NASDAQ warns Merix. Portland Business Journal, February 19, 2007.
  10. ↑ a b Trevison, Catherine. Merix to lay off 180, close plant. The Oregonian, January 10, 2008.
  11. ↑ Script error: No such module "citation/CS1".
  12. ↑ Script error: No such module "citation/CS1".
  13. ↑ a b Script error: No such module "citation/CS1".
  14. ↑ Script error: No such module "citation/CS1".
  15. ↑ Script error: No such module "citation/CS1".
  16. ↑ Script error: No such module "citation/CS1".
  17. ↑ Script error: No such module "citation/CS1".
  18. ↑ Script error: No such module "citation/CS1".
  19. ↑ a b c d Script error: No such module "citation/CS1".
  20. ↑ Company profile for MERX. Reuters. Retrieved on March 25, 2008.

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External links

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