So Long, Sola

I have to say, I didn’t think Jure Sola would or could last this long. The cofounder of Sanmina, Sola was one of the poster boys for wanton M&A excess, snatching up more than a dozen companies or OEM plants during the late 1990s and early 2000s. The spree culminated in the purchase of SCI Systems in mid 2001, a $6 billion deal that saddled the company with so much debt, when the ensuring tech collapse occurred, it was forced to take 20 straight quarters of “one-time” charges.

Most execs couldn’t have survived such a bloodletting. Sola wasn’t most execs, however. He continued to place his bets on fabricating in the US — in a memorable line, he told an IPC Printed Circuit Expo audience that “plating was in his blood” — and Sanmina remains the second (or third) largest board supplier in North America. Moreover, he correctly swung to the military and aerospace markets, eschewing the PCs that SCI was so dominant in.

Today the company is half the size in revenue of its peak, but consistently profitable.

Come October Sola will ride off into the sunset with his legacy intact, perhaps not the most beloved man to run a major PCB company, but a success nonetheless. In this era, that’s no small thing.

 

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About Mike

Mike Buetow is editor-in-chief of Circuits Assembly magazine, the leading publication for electronics manufacturing, and PCD&F, the leading publication for printed circuit design and fabrication. He is also vice president and editorial director of UP Media Group, for which he oversees all editorial and production aspects. He has more than 20 years' experience in the electronics industry, including six years at IPC, an electronics trade association, at which he was a technical projects manager and communications director. He has also held editorial positions at SMT Magazine, community newspapers and in book publishing. He is a graduate of the University of Illinois. Follow Mike on Twitter: @mikebuetow