molex
{{Short description|Manufacturing company, subsidiary of Koch Industries}}
{{Use mdy dates|date=January 2025}}
{{Infobox company
| name = Molex Incorporated
| logo =
| logo_size =
| type = Subsidiary
| traded_as = {{NASDAQ was|MOLX}}
| foundation = {{Start date and age|1938}}
| founder =
| location_city = Lisle, Illinois
| location_country = United States
| location =
| locations =
| key_people =
| industry = Electronics
| products = Electrical connectors, Molex connector, Optical fiber connectors, Switches
| services =
| market cap =
| revenue = $3.6bn (June 30, 2013) {{cite press release| website= Molex.com| url= http://www.molex.com/mx_upload/editorial/1466/20131209_koch-molex-final.pdf| title= Koch Industries, Inc. Completes Purchase of Molex Incorporated| publisher= Molex Incorporated; Koch Industries| date= December 9, 2013 | access-date= June 2, 2018}}
| operating_income =
| net_income = $243m (June 30, 2013) {{cite press release | website= Molex.com| url= http://www.molex.com/mx_upload/editorial/1390/FY13Q4_pr.pdf | title= Molex Reports Fourth Quarter and Full Fiscal Year Results | date= August 7, 2013 | access-date= June 2, 2018}}
| assets =
| equity =
| owner =
| num_employees = 45,000 {{cite web | website= Molex.com| url= https://www.molex.com/molex/about/about-us/ | title= Quick Facts About Molex| access-date= October 6, 2020}}
| parent = Koch Industries
| divisions =
| subsid =
| homepage = {{Official URL}}
| footnotes = {{cite web|url=https://www.sec.gov/Archives/edgar/data/67472/000006747213000007/0000067472-13-000007.txt|title=FORM 10-K}}
| intl =
}}
Molex LLC is a manufacturer of electronic, electrical, and fiber optic connectivity systems. Molex produces over 100,000 products for a variety of industries, including data communications, medical, industrial, automotive and consumer electronics. They are notable for pioneering their Molex connector, which has seen universal adoption in personal computing. The company is considered the second largest electronic connector company in the world.{{Cite web |title=Molex Inc |url=https://www.encyclopedia.com/social-sciences-and-law/economics-business-and-labor/businesses-and-occupations/molex-inc |access-date=2022-07-13 |website=www.encyclopedia.com}}
History
Molex was established in 1938 by Frederick Krehbiel.{{Cite web |last=Fisher |first=Daniel |title=Koch's $7.2 Billion Molex Purchase Puts Founding Family In Billonaire's [sic] Circle |url=https://www.forbes.com/sites/danielfisher/2013/09/12/kochs-7-2-billion-molex-purchase-puts-founding-family-in-billonaires-circle/ |access-date=2022-07-13 |website=Forbes |language=en}} 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. Aside from flower pots, Molex also sold salt shakers before it expanded into electrical connectors and sensors. Later they made connectors for General Electric and other appliance manufacturers out of the same plastic.{{cite web | website= reed-electronics.com| url-status= dead| url= http://www.reed-electronics.com/eb-mag/index.asp?layout=articlePrint&articleID=CA6279564#Molex |archive-url= https://web.archive.org/web/20060328032258/http://reed-electronics.com/eb-mag/index.asp?layout=articlePrint&articleID=CA6279564 |title= The 10 most significant companies| first= Geoffrey |last= James | date= November 1, 2005 |archive-date= March 28, 2006| access-date= June 2, 2018}} Molex acquired Woodhead Industries in 2006;{{cite press release |website= Molex.com| url= http://www.molex.com/mx_upload/editorial/archive/060810woodhead.htm|title= Molex Completes Acquisition of Woodhead Industries| date= August 10, 2006| access-date= June 2, 2018}} 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.{{cite press release| date= February 14, 2005| website= Molex.com| url= http://www.molex.com/mx_upload/editorial/archive/050214_prelim2005.html |title= Molex Announces Preliminary 2005 Fiscal Second Quarter and Six Month Results; Provides Guidance for Third and Fourth Fiscal Quarters}} 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.{{cite press release |url= http://globenewswire.com/news-release/2005/04/01/325249/75452/en/Molex-Incorporated-Faces-Securities-Fraud-Suit-Says-Chicago-Law-Firm-Much-Shelist-MOLX.html|title= Molex Incorporated Faces Securities Fraud Suit Says Chicago Law Firm Much Shelist -- MOLX| date= March 31, 2005 | place= Chicago| agency= Primezone| website= globenewswire.com| access-date= June 2, 2018}} In 2007, a settlement of $10.5 million fund plus interest was reached.{{cite web| url= http://securities.stanford.edu/1033/MOLXE05_01/ |url-status= dead| title= Molex Incorporated Class Action Lawsuit| work= Securities Class Action Clearinghouse| via= securities.stanford.edu| publisher= Stanford Law School, Stanford University| archive-url= https://web.archive.org/web/20131103234650/http://securities.stanford.edu/1033/MOLXE05_01/| archive-date= 2013-11-03 }}
In 2009, Hermann Simon mentioned this company as an example of a "Hidden Champion".{{cite book |last=Simon |first=Hermann |title=Hidden Champions of the 21st Century : Success Strategies of unknown World Market Leaders |publisher=Springer |year=2009 |isbn=978-0-387-98147-5 |place=London |pages=10, 94 |author-link=Hermann Simon (manager)}} During this period, Molex already operated 59 manufacturing plants all over the world, posting a sustained 12% annual growth rate. Following another expansion strategy, the company started producing complex, three-dimensional electronic components for medical applications in 2011.{{Cite web |date=2011-11-07 |title=Molex transfers 3D electronics to medical devices |url=https://www.plasticstoday.com/molex-transfers-3d-electronics-medical-devices |access-date=2022-07-13 |website=plasticstoday.com |language=en}}
In September 2013, Koch Industries purchased Molex for $7.2 billion.{{cite news| first= Denis |last= Cosnard| url= http://www.lemonde.fr/economie/article/2013/09/10/les-infames-freres-koch-s-offrent-un-nouveau-grand-nom-de-l-industrie_3474003_3234.html| title= Les 'infâmes frères Koch' s'offrent un nouveau grand nom de l'industrie| work= Le Monde| language= fr| date= September 10, 2013| trans-title= The 'infamous Koch brothers' give themselves a new big name in the industry| access-date= June 2, 2018}} Koch indicated Molex will retain its company name and headquarters in Lisle, Illinois, and be run as a subsidiary.{{Cite news |url= http://www.chicagotribune.com/business/breaking/chi-molex-koch-industries-20130909,0,2022593.story |title=Molex jumps 32% on Koch Industries' $7.2B takeover |agency=Reuters |work=Chicago Tribune |date=September 9, 2013}}{{Cite news |url=http://www.latimes.com/business/la-fi-molex-koch-20130909,0,2378709.story |title=Koch Industries buying electronics maker Molex for $7.2 billion |work=Los Angeles Times |date=September 9, 2013}}
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 around that time in 21 locations worldwide, Phillips-Medisize operates as an indirect subsidiary of Molex.{{cite web | work= Medical Plastic News| url= https://www.medicalplasticsnews.com/news/molex-completes-acquisition-of-phillips-medisize-corporation/ | title= Molex completes acquisition of Phillips-Medisize Corporation| date= November 7, 2016 | access-date= June 2, 2018}}{{cite web | website= pim-international.com| url= http://www.pim-international.com/molex-completes-acquisition-phillips-medisize/| title= Molex completes acquisition of Phillips-Medisize| date= February 17, 2017| access-date= June 2, 2018}}
Further acquisitions in pharmaceuticals included Vectura, a British maker of inhalation drug delivery devices, effective January 2025.{{Cite web |last=Bandhakavi |first=Swagath |date=2024-09-18 |title=Molex to acquire Vectura from Philip Morris subsidiary in £150m deal |url=https://www.medicaldevice-developments.com/news/molex-to-acquire-vectura-from-philip-morris-subsidiary-in-150m-deal/ |access-date=2025-01-24 |website=Medical Device Developments |language=en-US}}
References
{{Reflist}}
External links
{{Commons category inline}}
- {{Official website}}
{{Koch Industries}}
{{Illinois Corporations}}
{{authority control}}
Category:Companies based in DuPage County, Illinois
Category:American companies established in 1938
Category:Companies formerly listed on the Nasdaq
Category:Electronics companies of the United States
Category:Manufacturing companies based in Illinois
Category:2013 mergers and acquisitions
Category:1938 establishments in Illinois