Molex history

The shift occurred in 1960, when Molex launched its first nylon plug and receptacle line.

By manufacturing connectors for companies such as Zenith, RCA, and Magnavox, Molex realized rapid growth, generating $1.06 million in annual sales in 1962, the first year the company eclipsed the $1 million mark.

In 1967, Edwin Krehbiel wanted to retire and began looking for investors to purchase his stake in Molex.

Accordingly, the company's first plant outside the United States was constructed in Yamato City, Japan, opening in 1970.

An additional overseas plant was constructed in Ireland in 1971, paving the way for the prodigious geographic expansion that would take place during the decade.

By 1979, domestic sales at Molex totaled $44.6 million, while its international sales reached $53.4 million, representing the first year the company's business overseas surpassed the total recorded domestically.

Driven by the nearly insatiable demand for electronic connectors by computer and other electronics manufacturers during the decade, Molex prospered, recording $253 million in sales by 1985.

By 1991, Molex had become a genuine multinational company, a global company that was beating its competition by virtue of its early and aggressive expansion overseas and by sustaining the entrepreneurial spirit that originally had engendered its creation.

By this time, the third generation of Krehbiels was fully in charge of the company; when John Krehbiel, Sr., died in 1993, Fred Krehbiel took on the additional duty of chairman.

The firm had sales of about $100 million during 1998.

A prime example of this was Molex's June 1999 purchase of Cardell Corporation for $129 million.

Molex confidently announced its most ambitious expansion in history in late 2000.

During the fourth quarter of fiscal 2001, profits fell 83 percent, contributing to a 9 percent decline in profits for the full year.

Despite all the negatives, Molex remained in excellent financial shape: At the end of fiscal 2002, the firm had a very light long-term debt load of $14.2 million, and was cash-strong, with more than $300 million on hand.