Flex: Relocation to Mexico, China and the United States

Flex LTD, also known as Flextronics International LTD, further increased its assets in property, plant and equipment in Mexico compared to China and the United States.

As of March 31, 2023, this company’s assets in Mexico were US$763 million, an increase of 21.9% over the immediately preceding fiscal year.

Flex is one of the world’s largest providers of global supply chain solutions, with revenues of $30.346 billion in the fiscal year ended March 31, 2023.

To serve the growing outsourcing needs of multinational and regional customers, the company has established an extensive network of manufacturing facilities in the world’s major consumer and business markets (Asia, the Americas and Europe).

Specifically, Flex designs, manufactures, ships and services consumer and business products for its customers through a network of more than 100 facilities in approximately 30 countries on four continents.

It also provides software solutions and smart, integrated solar trackers used in utility-scale and ground-mounted distributed generation solar projects around the world.

As of March 31, 2023, its total manufacturing capacity was approximately 27 million square feet.

Flex

Below Mexico, the company closed its last fiscal year with US$365 million in property and equipment in the United States, up 3.1% year-on-year.

In third place was China, with assets of US$338 million, an increase of 13% year-on-year.

Globally, Flex’s assets totaled US$2.349 billion, up 10.5 percent.

Flex helps its customers design and manufacture products. It does this by providing its customers with product development lifecycle services, from innovation, design and engineering to manufacturing, supply chain solutions, component services, logistics, fulfillment and circular economy offerings.

Flex’s strategy is to continue to invest in areas where it can differentiate and add value, whether through engineering and design services, product technologies or by developing differentiated business processes and methods.

The company is strengthening its capabilities in software, robotics, artificial intelligence, factory automation, simulation, digital twins and other disruptive technologies.

In its last fiscal year, Flex recorded sales in Mexico of $6.589 billion (+30.2 percent year-on-year), $6.539 billion in China (+6.4 percent) and $5.020 billion in the United States (+36 percent).

Its competitors include Benchmark Electronics, Celestica, Jabil and Sanmina Corporation.