| Type | Public |
|---|---|
| Industry | electronics |
| Founded | 1994, Oregon |
| Headquarters | Beaverton, Oregon, United States |
| Key people | William C. McCormick, Chairman Mike Burger, CEO |
| Products | printed circuit boards |
| Revenue | $287 million USD (FY 2009) |
| Operating income | $49 million USD (FY 2006) |
| Net income | $49 million USD (FY 2006) |
| Employees | 2,950 (2009) |
| Parent | Viasystems |
| Divisions | Merix San Jose Merix Asia Merix Oregon |
| Website | merix.com |
| References: Financial data[1] | |
Merix Corporation is a printed circuit board (PCB) manufacturer based in the U.S. state of Oregon.[2] 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.[3][4] The company is now a subsidiary of Viasystems.
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Merix Corporation was started in 1994 as a spin-off from Tektronix, Inc. in Oregon’s Silicon Forest, employing 700 people.[5] Tektronix contiuned to own 27% of the new company.[6] The City of Portland’s Office of Sustainable Development awarded Merix a BEST Award in 1997 for water conservation.[7] 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.[8]
In December 2004, the company bought Data Circuit Systems and named the unit Merix San Jose.[8] That fiscal year Merix returned to profitability with a $20,000 in earnings from $156 million in revenues.[8] On September 29, 2005, Merix purchased the operations of Eastern Pacific Circuits Holding Limited. Merix renamed these operations as Merix Asia.[9] 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.[10]
For the 2006 fiscal year they had revenues of $309 million and a profit of $1.4 million.[8] In January 2008, Merix announced the closing of their Wood Village, Oregon, factory they opened in 2004.[11] The company laid off 180 people company-wide as part of a restructuring plan at that time.[11] Another 230 people were laid off in early 2009,[12] and the company then lost $8.4 million on nearly $60 million in revenues in the quarter that ended in May 2009.[13]
Also in 2009, the company expanded its military and aerospace customer base, adding contracts to companies such as Rockwell Collins.[14] In October 2009, Merix announced they would merge with Viasystems with the combined entity headquartered in St. Louis, Missouri.[15] Merix reported a quarterly profit for the second quarter of their 2010 fiscal year, the first such profit since 2007.[16] The merger with Viasystems was completed in February 2010.[17]
The company's main domestic production facility is located in Forest Grove, Oregon, in the Portland metropolitan area.[18] The 250,000-square-foot (23,000 m2) facility employs about 800 people and is the city's largest employer.[18] Merix's other U.S. plant is located in San Jose, California.[18] Company headquarters are in Beaverton, Oregon, also in the Portland area,[18] with Mike Burger serving as the chief executive officer since 2007.[14]
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.[19]
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