Get To Know Your Stock: Jabil, Inc.
Although the company is not a household name, Jabil Inc. (formerly Jabil Circuits Inc.) is a worldwide electronic manufacturing services company. It provides solutions to customers around the globe operating in nearly every industry, including companies such as Apple, Amazon, Cisco, and Hewlett-Packard. With an extensive network of global manufacturing sites, Jabil is able to not only provide supply chain improvements and cost optimization services but also design, assemble, test, and supply electronics components for its customers.
Founded in suburban Detroit in 1966, Jabil was started to repair and produce circuit assemblies. The company derives its name from a combination of the first names of its founders, James Golden and Bill Morean. Bill’s son joined Jabil in 1977 and purchased a controlling share of the company; he remained at the head of Jabil until his retirement as the Chairman of the Board in 2013.
With Bill’s son at the forefront of the company, a 1979 deal with General Motors turned Jabil from a small circuits producer into a full-service high-volume manufacturing company, providing everything from product design and sourcing to assembly, testing, and distribution. Shortly after, it moved its headquarters to St. Petersburg, Florida.
After going public on the New York Stock Exchange in 1993, a series of acquisitions over the years enhanced Jabil’s scope. The first and most important of these acquisitions was of GET Manufacturing in 1999. With over 1 million square feet of manufacturing capacity and 5000 employees, Jabil was able to greatly expand operations and establish a berth in fast growing Asia.
Today, Jabil has become a global manufacturing giant. With over 177,000 employees and 100 plants spread across 28 countries, Jabil has exposure in nearly every industry. It now primarily operates in two main segments: electronics manufacturing services and diversified manufacturing services. Its EMS segment deals primarily with utilizing its large-scale manufacturing plants for its customers in nearly every industry. The company’s DMS segment is focused on engineering solutions with customers in the technology and healthcare industries. Just one of its many success stories comes from Athos, a company that produces athletic clothing to track heartrate, muscle activity, and give feedback to optimize the wearer’s performance. Jabil became involved at the product’s conception and has helped Athos design, test, and manufacture its product. Jabil helps companies large and small to make business owners’ ideas come to life.