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Jabil

Topic: Company

 From HandWiki - Reading time: 8 min
Short description: American manufacturing company
Jabil Inc.
TypePublic company
IndustryElectronics Manufacturing Services[1]
Founded1966; 58 years ago (1966) in Detroit, Michigan, U.S.
Founders
  • William E. Morean
  • James Golden
HeadquartersSt. Petersburg, Florida, U.S.
Number of locations
30 countries[2]
Area served
Worldwide
Key people
Mark Mondello (Chairman & CEO)[3]
Michael Dastoor (Exec. Vice President & CFO)
RevenueIncrease US$33.48 billion (2022)[3]
Increase US$1.41 billion (2022)[3]
Increase US$996 million (2022)[3]
Total assetsIncrease US$19.72 billion (2022)[3]
Total equityIncrease US$2.45 billion (2022)[3]
Number of employees
250,000[3]
Websitewww.jabil.com
Footnotes / references
[4]

Jabil Inc. is a global manufacturing company headquartered in the Gateway area of St. Petersburg, Florida in the United States of America. It is one of the largest companies in the Tampa Bay area.[5] Jabil has approximately 260,000 employees based across 100 plants in 30 countries.[6]

History

The company's name derives from the first names of James Golden and William (Bill) E. Morean, who together founded the company in 1966. Jabil was formally incorporated in Detroit, Michigan, in 1969. One of the early products it manufactured was PCBs.[4]

In the 1980s, the company was making parts for PC companies like Dell,[4] and this continued through the mid-1990s.[7]

The company went public in 1993.[8] In 1998, Jabil began trading publicly on the New York Stock Exchange under ticker symbol JBL.[9] The company was then added to the S&P 500 Index in 2001.[10] In 2014, the company was moved from the S&P 500 Index to the S&P MidCap 400 Index.[11]

On March 1, 2013, Jabil appointed William E. Peters as president and William D. Muir Jr. as chief operating officer. Both had been with Jabil for more than 20 years. On the same day, Mark Mondello was appointed CEO, replacing Timothy Main, elected chairman of the board of directors.[12] The appointments were sparked by the retirement of board chairman William D. Morean, the son of one of the Jabil founders.[13]

In 2017, Jabil announced that it would be closing its first European international plant in Livingston, UK, by the end of the year. Two hundred sixty-six employees in Livingston would lose their jobs.[14] Jabil laid off approximately 400 people in September 2016, 100 of those being corporate employees located in St. Petersburg Florida.[15]

Business areas

Jabil customers span numerous industries, including aerospace, automotive, computing, consumer lifestyles, digital home, energy, healthcare, industrial, networking, storage, and telecommunications.[16] Its services include design engineering, manufacturing and supply chain services for the EMS and consumer industries; and materials technology services (plastics, metals, automation and tooling). Jabil diversifies their business into three areas.[17]

Services

Design engineering

Jabil is involved in design engineering services. The company has industrial design services that concentrate on designing the look and feel of enclosures for printed circuit board assemblies and systems. Jabil's mechanical design services include dimensional design and analysis of electronic and optical assemblies. Computer-assisted design from Jabil includes testing and verification for printed circuit board assembly design and other consulting services.[17] Jabil has assisted many Fortune 500 companies with design and engineering.

Supply chain and logistics

Jabil provides supply chain and logistic services. These services include electronic sourcing, virtual/vertical mechanics, logistics, supply chain management, advanced planning, quality, standardized global systems, supply chain solutions, and business analytics. The company's supply chain and logistics management were seen during Japan's 2011 Tōhoku earthquake and tsunami.[18] When supply chain disruption occurred, Jabil re-routed supply from alternative sources, allocated limited production to key customers and distributors, specified quality alternative parts, and called on existing suppliers to help reduce the impact of the disruptions.[19][20] Jabil was able to do the same during the 2010 and 2011 Thailand floods.[21]

Company culture

Jabil's internal company culture emphasises the use of lean manufacturing principles and process improvement using the Kaizen approaches.[22]

Jabil also holds an annual improvement competition known as "Deliver Best Practices." This is a company-wide (and worldwide) competition to recognize, support, and promote process advancements within the company. Employee teams enter innovative and cost-saving projects into the Deliver Best Practices competition. After several rounds, the top twenty-four projects from the global teams win a trip to Jabil's corporate offices and present their projects to company executives in person. One project in four different categories is chosen, and the team receives a $10,000 prize.[23]

Social and environmental responsibility

Jabil is involved in both social and environmental responsibility.[24] Jabil employs a director of social and environmental responsibility as part of their company who also serves on the board of directors for the Electronic Industry Citizenship Coalition [citation needed]. Jabil is also involved with a charity and non-profit organizations outside of the Tampa / St. Petersburg area. They are a donor for the Guadalajara Los Pinos Boys Shelter in Los Pinos, Mexico.[25] In Japan, Jabil Gotemba employees harvest and sell fruits to Jabil employees and use the proceeds to purchase and donate wheelchairs to the Gotemba community.[26]

As part of the company's global initiative, more than 7,000 Jabil employees donated money to help the victims of the 2011 earthquake and tsunami in Japan[citation needed]. Jabil Green Point Wuxi and Wuxi Konggang Industrial Park teamed up to build the Shuofang Agricultural Sanatorium for the Disabled and the Health and Happiness Garden. The facility opened on May 15, 2012[citation needed].

Awards and recognition

Jabil has been the recipient of many awards and recognition. It was the first-ever recipient of the Mexican government's National Quality Award, which was given to it in 2006. This award is given to organizations recognized for their total quality management practices.[27]

The company was awarded the Excellence in Best Practices Award from Frost & Sullivan in 2009[citation needed]. The company also received an HR award in Poland[28] and a NEC Solution America's Favored Supplier Award.[29] Jabil was awarded with the 2010 Save Energy Now Award by the United States Department of Energy[citation needed].

Jabil made the list of Newsweek S&P 500 Green Companies in 2011[citation needed]. It was the 3rd consecutive year for Jabil to be on the list, improving each year from number 200 to number 127 in 2011[citation needed]. They were also given the 2010-2011 Annual Enterprise of Harmonious Labor Relation of Guangzhou City award.[30]

In 2012, Jabil was recognized by Fortune Magazine as one of the Fortune 500 Most Admired Companies [citation needed]. Jabil was also awarded the 2012 Kaizen Award in China by 1MFG and Masaaki lmai's Kaizen Institute Consulting Group (KICG).[31] In 2012, Tim Main, former CEO and current chairman of the board, and Bill Morean, former chairman of the board of directors, won Entrepreneur of the Year Awards from Ernst & Young, LLC for the Florida region.[32] Jabil Circuit Shanghai received the Institute of Engineers Lean Best Practice Award in 2014, an award given in recognition of innovation and Lean Six Sigma capabilities.[33] Jabil Singapore received the prestigious ASQ ITEA Silver Award[citation needed] and First Place Winner for Institute of Industrial Engineers Annual Lean Best Practice Award in 2016[citation needed].

Acquisitions and expansion

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][34] In 2011, Jabil opened a Photovoltaic Certification and Testing Laboratory in St. Petersburg, FL.[35] In February 2013, Jabil announced it would be purchasing Nypro for $665 million in cash.[36] The purchase was completed in July 2013.[37][38]

Year Company Acquisition Details
2015 Shemer Group Purchased Shemer Group, an Israeli company specializing in contract manufacturing for high-tech capital equipment manufacturers. Among its customers: Applied Materials, KLA Tencor, HP and GE.[39]
2015 Plasticos Castella Purchased Plasticos Castella, a European company that manufactures plastic packaging products for the food, beverage, and consumer product goods industries.[38]
2013 Nypro Purchased Nypro, a private company that manufactures plastic products for the healthcare industry.[37] Included Radius Product Development.
2011 Telmar Network Technology, Inc. Purchased Telmar, a global provider of complex reverse logistics, repair services, technical support, and spare parts management solutions for communication network service providers.
2006 Taiwan Green Point Enterprises Acquired Green Point, specializing in plastic parts for cell phones and other portable electronic products. It is now referred to as Jabil's material technology services.
2005 Varian, Inc. Purchased the contract manufacturing division of the company for approximately $195 million.
2002 Lucent Technologies of Shanghai $75 million purchase of most of their assets included a deal to supply Lucent with optical switching and other communication components for three years.
2002 Philips Contract Manufacturing Services Purchased the division from Philips for approximately $210 million and signed a 4-year supply agreement worth about €4 billion.
2001 Intel Corporation Agreed with Intel to acquire an Intel plant in Malaysia. The acquisition included an agreement to supply Intel with parts for three years.
1999 GET Manufacturing Acquired electronics manufacturer. The acquisition allowed Jabil to expand into China.

References

  1. ↑ Yahoo Finance. "Jabil Yahoo! Finance information". https://finance.yahoo.com/q/in?s=JBL+Industry. 
  2. ↑ "Jabil Locations". https://www.jabil.com/contact/locations.html/. 
  3. ↑ 3.0 3.1 3.2 3.3 3.4 3.5 3.6 "Jabil 2022 10K Annual Report". U.S. Securities and Exchange Commission. 25 October 2022. https://www.sec.gov/ix?doc=/Archives/edgar/data/898293/000119312522268383/d389587d10k.htm. 
  4. ↑ 4.0 4.1 4.2 4.3 Hoovers. "Jabil Circuit, Inc. History". http://www.hoovers.com/company/Jabil_Circuit_Inc/rjrcri-1-1njhxk.html. 
  5. ↑ Tampa Bay Times. "In Slower Economy, More Cautious Jail Circuit Still Expects Third Record Year". http://www.tampabay.com/blogs/venturebiz/content/slower-economy-more-cautious-jabil-circuit-still-expects-third-record-year. 
  6. ↑ "Jabil, Fortune 500". http://fortune.com/fortune500/jabil/. [|permanent dead link|dead link}}]
  7. ↑ "Labouring in obscurity: electronics manufacturing". The Economist. September 17, 1994. 
  8. ↑ New York Times. "Equity Issues This Week". https://www.nytimes.com/1993/04/26/business/equity-issues-this-week.html. 
  9. ↑ Jabil Circuit. "Investor FAQ". http://jbl.client.shareholder.com/faq.cfm. 
  10. ↑ Salveggi, Anthony (9 May 2005). "Jabil Flexes Its Muscles Amidst". Tampa Bay Business Journal. http://www.bizjournals.com/tampabay/stories/2005/05/09/focus3.html?page=2. 
  11. ↑ "Level 3 Communications Set to Join the S&P 500; Jabil Circuit to Join the S&P MidCap 400". http://www.prnewswire.com/news-releases/level-3-communications-set-to-join-the-sp-500-jabil-circuit-to-join-the-sp-midcap-400-280844932.html. 
  12. ↑ Manning, Margie (31 January 2013). "Jabil Shakes Up Executive Ranks". Tampa Bay Business Journal. http://www.bizjournals.com/tampabay/blog/morning-edition/2013/01/jabil-shakes-up-executive-ranks.html. 
  13. ↑ "William D. Morean To Retire From Jabil". Tampa Bay Business Journal. 18 October 2012. http://www.bizjournals.com/tampabay/news/2012/10/18/william-d-morean-to-retire-from-jabil.html. 
  14. ↑ "Level 3 Jobs threatened at Jabil electronics plant in Livingston". http://globalsmtuk.net/industry_news/jobs-threatened-at-jabil-electronics-plant-in-livingston/. 
  15. ↑ "Jabil Circuit laying off 400 workers, including nearly 100 in St. Petersburg". Tampa Bay Times. 9 Sep 2015. http://www.tampabay.com/news/business/corporate/jabil-circuit-laying-off-400-workers-including-nearly-100-in-st-petersburg/2294393. 
  16. ↑ "Jabil Inc - Company analysis report" (in en-GB). https://www.platformexecutive.com/swot_analysis/jabil-circuit/. 
  17. ↑ 17.0 17.1 "Jabil Circuit Inc.". https://www.reuters.com/finance/stocks/companyProfile?rpc=66&symbol=JBL. 
  18. ↑ WSJ.com. "Reinforcing the Supply Chain". http://mobile.blogs.wsj.com/cfo/2012/01/11/reinforcing-the-supply-chain/. 
  19. ↑ Kinaxis Supply Chain Expert Community. "EIU Prediction of a Highly Uncertain and Potential Volatile Global Economy Should Prompt Scenario-Based Planning". https://community.kinaxis.com/blogs/bob_ferrari/tags/supply_chain_agility. 
  20. ↑ Kinaxis Supply Chain Expert Community. "Turning Supply Chain Risk into Opportunity at Jabil". https://community.kinaxis.com/blogs/21st-century-supply-chain/2012/02/24/turning-supply-chain-risk-into-opportunity-at-jabil. 
  21. ↑ The Ferrari Group. "Supply Chain Matters". http://www.theferrarigroup.com/supply-chain-matters/2011/11/09/response-management-capabilities-are-being-put-to-another-significant-test/. 
  22. ↑ Tampa Bay Times. "How Jabil Circuit Defies The Flatlining Global Economy For Now". http://www.tampabay.com/news/business/corporate/how-jabil-circuit-defies-the-flatlining-global-economy-for-now/1194148. 
  23. ↑ ABC News. "Electronics Giant Jabil Holds International Competition To Find Bright Ideas". http://www.abcactionnews.com/dpp/money/business_news/electronics-giant-jabil-holds-international-competition-to-find-bright-ideas. 
  24. ↑ Mad Money -CNBC. "Jabil Circuit CEO on Earnings Beat". https://www.cnbc.com/id/46811522/Jabil_Circuit_CEO_on_Earnings_Beat. 
  25. ↑ Los Pinos Children's Home. "Our Donors". http://www.lospinos.org/ingles/nuestros.html. 
  26. ↑ Tampa Bay Times. "Despite Japan vulnerability, Jabil Circuit looking at breakthrough year of growth". http://www.tampabay.com/blogs/venturebiz/content/despite-japan-vulnerability-jabil-circuit-looking-breakthrough-year-growth. 
  27. ↑ "Jabil First Manufacturer To Receive Mexican Quality Award". Circuit Tree via HighBeam. 1 July 2007. http://www.highbeam.com/doc/1G1-167151468.html. 
  28. ↑ Prof Info. "Personel Plus (poszczególne numery czasopisma) - numery archiwalne" (in pl). http://www.profinfo.pl/hr-kadry/kariera-i-praca/p,personel-plus-poszczegolne-numery-czasopisma,39352.html. 
  29. ↑ EMS Now. "Jabil earns NEC solution America's Favored Supplier Award for reaching 10,000-unit milestone". http://www.emsnow.com/newsarchives/archivedetails.cfm?ID=8962. 
  30. ↑ "Annual Enterprise of Harmonious Labor Relation" (in zh). Sina News. http://news.sina.com.cn/c/2012-07-27/080924855505.shtml. 
  31. ↑ TPIF. "2012 Kaizen Award". http://www.tpif.or.th/. 
  32. ↑ Tampa Bay Times. "Two Tampa Bay Entrepreneurs Win State Award, Head To National Contest". http://www.tampabay.com/news/business/article1235559.ece. 
  33. ↑ "Jabil Shanghai Takes First Place in Institute of Industrial Engineers' Lean Best Practice Competition". Automation World. 24 June 2014. http://www.automationworld.com/industry-business/follow-jabil-shanghai-takes-first-place-institute-industrial-engineers-lean-best. 
  34. ↑ "Jabil Global Services Netherlands B.V.". http://company.info/org/341913790000/Jabil_Global_Services_Netherlands_B.V._Schiphol-Rijk/nieuws_jaarverslag_cijfers_management_uittreksel_markt. 
  35. ↑ Staff Writer (16 February 2011). "Jabil Opens New Photovoltaic Testing Laboratory In Florida". Solar Industry Mag. http://solarindustrymag.com/e107_plugins/content/content.php?content.7294. 
  36. ↑ Savitz, Eric (4 February 2013). "Jabil Circuit To Buy Nypro For $665 million In Cash". Forbes. https://www.forbes.com/sites/ericsavitz/2013/02/04/jabil-circuit-to-buy-nypro-for-665-million-in-cash/. 
  37. ↑ 37.0 37.1 Cashill, Margaret (1 July 2013). "Jabil Circuit Completes Nypro Deal". Tampa Bay Business Journal. http://www.bizjournals.com/tampabay/news/2013/07/01/jabil-circuit-acquires-nypro.html. 
  38. ↑ 38.0 38.1 "Nypro Moves into Smart Packaging, Extending Reach into Europe and Food & Beverage Markets". 28 September 2015. http://jbl.client.shareholder.com/releasedetail.cfm?ReleaseID=933463. 
  39. ↑ "Jabil Circuit to acquire Shemer Group - Israel Electronics News". August 10, 2015. https://techtime.news/2015/08/10/jabil-circuit/. 

External links



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