Contract manufacturer Flextronics International Ltd said it agreed to take over Motorola Mobility's manufacturing operations in Tianjin, China and Jaguariuna, Brazil. Singapore-based Flextronics said it will acquire the operations in Tianjin and assume management of the Jaguariuna facility.The deal with Motorola, owned by Google, also includes manufacturing and service for Android mobile devices, Flextronics said in a press release.A Google spokeswoman said the agreement encompassed the bulk of Motorola's manufacturing capacity, but declined to provide further comment on the terms of the transaction.Faced with slow demand and macroeconomic uncertainty, Flextronics has cut its exposure to the PC industry to concentrate on more profitable businesses like industrial, automotive and communications.
Flextronics International Ltd. (Flextronics) is a global provider of vertically integrated advanced design and electronics manufacturing services (EMS) to original equipment manufacturers (OEMs). Shares of FLEX fell by 1.77% or $-0.105/share to $5.84. In the past year, the shares have traded as low as $5.47 and as high as $7.49. On average, 4347970 shares of FLEX exchange hands on a given day and today's volume is recorded at 2498157.
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