Merix Corporation
| Company type | Public |
|---|---|
| Industry | Electronics manufacturing (printed circuit boards) |
| Predecessor | Tektronix, Inc. (spin-off) |
| Founded | 1994 |
| Fate | Merged with Viasystems in 2010; now part of TTM Technologies |
| Headquarters | Beaverton, Oregon , United States |
Key people | Mike Burger (CEO from 2007) |
| Products | Multi-layer rigid printed circuit boards (PCBs) |
Number of employees | ~800 (at Forest Grove facility) |
Merix Corporation was a U.S.-based manufacturer of printed circuit boards (PCBs) located in Beaverton, Oregon. Before its 2010 merger with Viasystems, it was ranked as Oregon’s 31st largest publicly traded company by market value in 2006. Currently, the business operates under the umbrella of TTM Technologies.
History
Established in 1994 as a spin-off from Tektronix, Inc. within Oregon’s Silicon Forest, Merix started with a workforce of 700 employees, while Tektronix maintained a 27% ownership stake. The firm earned Portland’s Office of Sustainable Development BEST Award in 1997 for its efforts in conserving water resources. During the early 2000s, Merix experienced financial difficulties, recording losses of $9.6 million on $87 million in revenue for 2002 and $30 million losses on $95 million revenue in 2003.
In December 2004, Merix expanded by acquiring Data Circuit Systems and established Merix San Jose. That year marked a return to profitability with a slight net income of $20,000 on revenues of $156 million. The company further grew in September 2005 through the acquisition of Eastern Pacific Circuits Holding Limited, which was renamed Merix Asia. By fiscal year 2006, revenues had increased to $309 million with earnings of $1.4 million. However, in 2007, NASDAQ issued a warning to Merix for failing to meet requirements related to an independent audit committee.
January 2008 saw the closure of Merix’s Wood Village facility along with layoffs affecting 180 employees as part of restructuring efforts; an additional 230 employees were laid off in early 2009. For the quarter ending May 2009, the company reported an $8.4 million loss on nearly $60 million in revenue. That same year, Merix expanded its presence within military and aerospace sectors by securing contracts including deals with Rockwell Collins.
In October 2009, Merix announced plans to merge with Viasystems, headquartered in St. Louis, Missouri, completing the merger by February 2010. During the second quarter of fiscal 2010, Merix recorded its first quarterly profit since 2007. Subsequently, Viasystems was acquired by California-based TTM Technologies in May 2015 for $368 million.
Operations
Merix’s main manufacturing site in the United States was located in Forest Grove, Oregon, part of the Portland metropolitan area. This facility employed approximately 800 workers, making it the largest employer within the city. Additional U.S. operations included a plant in San Jose, California, while corporate headquarters were maintained in Beaverton, Oregon. Mike Burger held the position of chief executive officer beginning in 2007.
The company focused on producing multi-layer rigid printed circuit boards (PCBs) for international markets such as automotive, telecommunications, test equipment, and computing industries. The majority of its manufacturing activities were conducted primarily in China.
External links
- New Merix CEO gets his orders - Portland Business Journal
- Spiraling Merix records another bleak quarter - Portland Business Journal
- Defunct computer companies of the United States
- Defunct computer hardware companies
- Companies based in Beaverton, Oregon
- Manufacturing companies based in Oregon
- Electronics companies established in 1994
- Companies formerly listed on the Nasdaq
- 1994 establishments in Oregon
- 2010 mergers and acquisitions
- Motherboard companies