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Benchmark Electronics history
Benchmark Electronics company history timeline
1979 Founded in Clute, Texas as a manufacturing subsidiary to Intermedics.
It would be incorporated in 1981 as a wholly owned subsidiary.
Compounding Chambers's problems was a 1982 congressional hearing on alleged bribes and kickbacks by pacemaker manufacturers that centered on Intermedics.
Then in 1984 banks declared that Intermedics was in technical default on a $100 million loan.
Chambers hoped to reach $500 million in annual sales by 1985, with less than half coming from pacemakers.
Initially a subsidiary of Intermedics, a medical implant manufacturer, Benchmark was sold to Electronic Investors Corporation in 1986.
1988: Company is renamed Benchmark Electronics, Inc.
In 1990 Benchmark generated $21.3 million in sales, earning $2 million, up from $1.4 million the year before.
Benchmark upgraded its Houston manufacturing facility and purchased new equipment for a Beaverton, Oregon plant that it opened in 1991.
As early as 1992 Benchmark began to shop for possible acquisitions to grow the company.
1994 Benchmark’s new headquarters is constructed in Angleton, Texas.
EMD, with sales of $160 million in 1995, would more than double Benchmark's volume and add 19 new customers.
In March 1996 Benchmark made an acquisition that would accelerate its growth.
As it absorbed EMD, Benchmark saw its sales top $200 million in 1996 while posting a net income of $8.9 million.
1997 Benchmark moves BHE to the New York Stock Exchange.
1998 Benchmark acquires the Lockheed Martin Commercial Electronics Company in Hudson, New Hampshire, giving us a presence in the northeast United States.
By the end of 1998 Benchmark would be halfway toward reaching the mark, generating $524 million in sales.
Results for 1999 were less than anticipated, falling well short of the $1 billion mark in sales, coming in at $877.8 million.
Everyone in 2000 was scrambling to bolster their performance in China and the Far East.
Benchmark's fortunes, however, would improve in 2000, as the company began to take advantage of underutilized Avex facilities and sign up new customers.
In 2007 Benchmark Electronics acquired Pemstar Inc, a contract manufacturer.
2009 After acquiring assets from Oviso Manufacturing, Benchmark’s Precision Technologies is now in four locations.
Smaller than rivals, including Flextronics and Foxconn, as of 2010 Benchmark may be increasingly seeking to move away from traditional, computing-related EMS products to more-profitable ones like medical devices.
2010 Benchmark acquires facilities and assets to expand Precision Technology capabilities in Malaysia and Singapore.
In December 2011, founder and chairman Cary Fu promoted Gayla Delly to CEO in December 2011.
2013 Benchmark acquires the EMS segment of CTS to focus on complex, high-mix, and low-volume manufacturing in the industrial, aerospace & defense, medical and communications markets
2015 The acquisition of Secure Technology deepens Benchmark’s engineering capabilities and enhances our ability to serve customers in the highly regulated industrial, aerospace and defense markets.
On September 16, 2016, Benchmark named Paul J. Tufano president and chief executive officer, effective immediately.
2017 Benchmark Electronics announces corporate headquarters relocation to Arizona.
2018 Our Benchmark Lark RF Technology business unit moves into the new RF and High-Speed design Center of Innovation in Phoenix, Arizona.
Tufano stepped down from his position as president and CEO on March 18, 2019 and is replaced by Jeff Benck.
Benchmark ranked as the 18th largest EMS/ODM company worldwide in the CIRCUITS ASSEMBLY Top 50 for 2019.
In June 2020, the company announced plans to shutter its factory in Angleton, TX.
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Benchmark Electronics competitors
| Company name | Founded date | Revenue | Employee size | Job openings |
|---|---|---|---|---|
| Triumph Group | 1993 | $1.2B | 14,309 | 54 |
| FLIR Systems | 1978 | $1.9B | 4,179 | - |
| Micron Technology | 1978 | $30.8B | 49,000 | 486 |
| Acuity Brands | 1892 | $3.8B | 11,500 | 148 |
| Precision Castparts | 1949 | $10.0B | 30,100 | 568 |
| Skyworks Solutions | 1962 | $4.2B | 11,300 | 162 |
| SLM Technologies | 2014 | - | 6 | - |
| Emerson | 1890 | $15.2B | 83,500 | 1,110 |
| Littelfuse | 1927 | $2.2B | 12,000 | 30 |
| Maxim Integrated | 1983 | $2.6B | 7,100 | 1 |
Benchmark Electronics history FAQs
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Benchmark Electronics may also be known as or be related to Benchmark Electronics, Benchmark Electronics Inc and Benchmark Electronics, Inc.