Merix Corporation
Encyclopedia
Merix Corporation is a printed circuit board (PCB) manufacturer based in the U.S. state of Oregon
. Prior to a merger in 2010 with Viasystems, the Beaverton
based company had been the 31st largest public company in Oregon based on market capitalization as of 2006. The company is now a subsidiary of Viasystems.
, employing 700 people. Tektronix contiuned to own 27% of the new company. The City of Portland’s Office of Sustainable Development awarded Merix a BEST Award in 1997 for water conservation. 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.
In December 2004, the company bought Data Circuit Systems and named the unit Merix San Jose. That fiscal year Merix returned to profitability with a $20,000 in earnings from $156 million in revenues. On September 29, 2005, Merix purchased the operations of Eastern Pacific Circuits Holding Limited. Merix renamed these operations as Merix Asia. 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.
For the 2006 fiscal year they had revenues of $309 million and a profit of $1.4 million. In January 2008, Merix announced the closing of their Wood Village, Oregon
, factory they opened in 2004. The company laid off 180 people company-wide as part of a restructuring plan at that time. Another 230 people were laid off in early 2009, and the company then lost $8.4 million on nearly $60 million in revenues in the quarter that ended in May 2009.
Also in 2009, the company expanded its military and aerospace customer base, adding contracts to companies such as Rockwell Collins
. In October 2009, Merix announced they would merge with Viasystems with the combined entity headquartered in St. Louis, Missouri
. Merix reported a quarterly profit for the second quarter of their 2010 fiscal year, the first such profit since 2007. The merger with Viasystems was completed in February 2010.
, in the Portland metropolitan area
. The 250000 ft2 facility employs about 800 people and is the city's largest employer. Merix's other U.S. plant is located in San Jose, California
. Company headquarters are in Beaverton, Oregon
, also in the Portland area, with Mike Burger serving as the chief executive officer
since 2007.
Merix produces printed circuit boards that are used in various electronic equipment worldwide. This is primarily multi-layered rigid PCBs used in the automotive industry, communications equipment, testing equipment, and the computer industry. The manufacturing facilities are located primarily in China
.
Oregon
Oregon is a state in the Pacific Northwest region of the United States. It is located on the Pacific coast, with Washington to the north, California to the south, Nevada on the southeast and Idaho to the east. The Columbia and Snake rivers delineate much of Oregon's northern and eastern...
. Prior to a merger in 2010 with Viasystems, the Beaverton
Beaverton, Oregon
Beaverton is a city in Washington County, Oregon, United States, seven miles west of Portland in the Tualatin River Valley.As of the 2010 census, the population is 90,267. This makes it the second-largest city in the county and Oregon's sixth-largest city...
based company had been the 31st largest public company in Oregon based on market capitalization as of 2006. The company is now a subsidiary of Viasystems.
History
Merix Corporation was started in 1994 as a spin-off from Tektronix, Inc. in Oregon’s Silicon ForestSilicon Forest
Silicon Forest is a nickname for the cluster of high-tech companies located in the Portland metropolitan area in the U.S. states of Oregon and Southwest Washington, and most frequently refers to the industrial corridor between Beaverton and Hillsboro in northwest Oregon.The name is similar to...
, employing 700 people. Tektronix contiuned to own 27% of the new company. The City of Portland’s Office of Sustainable Development awarded Merix a BEST Award in 1997 for water conservation. 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.
In December 2004, the company bought Data Circuit Systems and named the unit Merix San Jose. That fiscal year Merix returned to profitability with a $20,000 in earnings from $156 million in revenues. On September 29, 2005, Merix purchased the operations of Eastern Pacific Circuits Holding Limited. Merix renamed these operations as Merix Asia. In February 2007, the company was warned by NASDAQ
NASDAQ
The NASDAQ Stock Market, also known as the NASDAQ, is an American stock exchange. "NASDAQ" originally stood for "National Association of Securities Dealers Automated Quotations". It is the second-largest stock exchange by market capitalization in the world, after the New York Stock Exchange. As of...
for failing to have a full three member independent audit
Audit
The general definition of an audit is an evaluation of a person, organization, system, process, enterprise, project or product. The term most commonly refers to audits in accounting, but similar concepts also exist in project management, quality management, and energy conservation.- Accounting...
committee as required by NASDAQ listing rules.
For the 2006 fiscal year they had revenues of $309 million and a profit of $1.4 million. In January 2008, Merix announced the closing of their Wood Village, Oregon
Wood Village, Oregon
Wood Village is a city in Multnomah County, Oregon, United States. The population was 3,878 at the 2010 census. Despite the name, Wood Village is classified as a city.-Geography:...
, factory they opened in 2004. The company laid off 180 people company-wide as part of a restructuring plan at that time. Another 230 people were laid off in early 2009, and the company then lost $8.4 million on nearly $60 million in revenues in the quarter that ended in May 2009.
Also in 2009, the company expanded its military and aerospace customer base, adding contracts to companies such as Rockwell Collins
Rockwell Collins
Rockwell Collins, Inc. is a large United States-based international company headquartered in Cedar Rapids, Iowa, primarily providing aviation and information technology systems and services to governmental agencies and aircraft manufacturers.- History :...
. In October 2009, Merix announced they would merge with Viasystems with the combined entity headquartered in St. Louis, Missouri
St. Louis, Missouri
St. Louis is an independent city on the eastern border of Missouri, United States. With a population of 319,294, it was the 58th-largest U.S. city at the 2010 U.S. Census. The Greater St...
. Merix reported a quarterly profit for the second quarter of their 2010 fiscal year, the first such profit since 2007. The merger with Viasystems was completed in February 2010.
Operations
The company's main domestic production facility is located in Forest Grove, OregonForest Grove, Oregon
Forest Grove is a city in Washington County, Oregon, United States, west of Portland. Originally a small farm town, it is now primarily a bedroom suburb of Portland. Settled in the 1840s, the town was platted in 1850 and then incorporated in 1872 and was the first city in Washington County...
, in the Portland metropolitan area
Portland metropolitan area
The Portland-Vancouver-Hillsboro, OR-WA Metropolitan Statistical Area , also known as the Portland metropolitan area or Greater Portland, is an urban area in the U.S. states of Oregon and Washington centered around the city of Portland, Oregon. The U.S...
. The 250000 ft2 facility employs about 800 people and is the city's largest employer. Merix's other U.S. plant is located in San Jose, California
San Jose, California
San Jose is the third-largest city in California, the tenth-largest in the U.S., and the county seat of Santa Clara County which is located at the southern end of San Francisco Bay...
. Company headquarters are in Beaverton, Oregon
Beaverton, Oregon
Beaverton is a city in Washington County, Oregon, United States, seven miles west of Portland in the Tualatin River Valley.As of the 2010 census, the population is 90,267. This makes it the second-largest city in the county and Oregon's sixth-largest city...
, also in the Portland area, with Mike Burger serving as the chief executive officer
Chief executive officer
A chief executive officer , managing director , Executive Director for non-profit organizations, or chief executive is the highest-ranking corporate officer or administrator in charge of total management of an organization...
since 2007.
Merix produces printed circuit boards that are used in various electronic equipment worldwide. This is primarily multi-layered rigid PCBs used in the automotive industry, communications equipment, testing equipment, and the computer industry. The manufacturing facilities are located primarily in China
China
Chinese civilization may refer to:* China for more general discussion of the country.* Chinese culture* Greater China, the transnational community of ethnic Chinese.* History of China* Sinosphere, the area historically affected by Chinese culture...
.
External links
- New Merix CEO gets his orders - Portland Business Journal
- Spiraling Merix records another bleak quarter - Portland Business Journal