Molex Celebrates Its 75th Anniversary
"Throw me that cable with the Molex three pin connectors," the audio engineer said on my first day as his helper. That was in 1970, and I was learning to set up a soundstage. The connectors might not have been made by Molex, but they certainly were called that. Molex has become an icon of connectivity, and they released, on July 1, a notice that they are celebrating their 75th birthday:
LISLE, IL –July 1, 2013 – As Molex Incorporated (NASDAQ: MOLX and MOLXA), begins its new fiscal year today, the company proudly celebrates its 75th year in business serving customers in the global electronics industry. Providing innovative interconnect solutions to the world’s leading manufacturers, the company’s primary markets include data communications, telecommunications, consumer electronics, industrial, automotive, aerospace and defense, medical and lighting. Molex sells more than 100,000 different products and ranks among the top three connector companies in the world based on annual revenue.
“Molex has built a legacy of innovation while growing from a small, local enterprise in Chicago’s western suburbs to one of the largest connector companies in the world,” states Martin P. Slark, vice chairman and CEO, Molex. “This milestone gives us an opportunity to reflect on where we’ve been, as we look forward to a promising and powerful future.”
Established in 1938, Molex earned an industry reputation for developing unique interconnect solutions for challenging design problems. Examples include: simple PCB connectors and stamped circuitry, as well as nylon plugs and receptacles for color TVs. Molex also introduced ever-smaller connectors and modular interconnects—the micro products of their day—and continues to be a leader in the miniaturization of electronic components.
Molex opened its first factory outside the U.S. in Japan in 1970. The company has since opened manufacturing operations in many other overseas locations, including Mexico, Ireland, Hong Kong, Singapore, India and China. In 1972, Molex went public launching a period of rapid growth as the company expanded into global markets to provide design, customer service and manufacturing capabilities closer to its increasingly diverse customer base. On its 60th anniversary, Molex sales had reached over $1.6 billion in annual revenue—a figure that has since more than doubled.
“Investing in the development of innovative products has always been an important part of our strategy and that will not change,” adds Slark. “Molex continues to invest in design innovation, organic growth and strategic acquisitions to bring greater value to our shareholders and customers.”
From flowerpots in 1938 to high-speed HDMI connectors today, product innovation remains a cornerstone of the brand. Molex continues to invest five percent or more of annual net revenue in R&D, which ranks it among the highest levels of R&D investment in the electronics industry. In FY12, Molex released more than 200 new products, received 319 patents and sold 60 billion connectors.
“For 75 years, Molex has been proud to work with electronics industry leaders to develop new interconnection technologies that help change the way people live, work and play. With the increasing role electronics play in the lives of people all over the world, we know Molex will continue to provide the innovative solutions the industry requires,” continues Slark. “As we celebrate this milestone year, we want to thank our global employees, customers, partners and the many communities that have supported Molex around the world. Without them, none of our success would have been possible.”
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