What changed in this filing

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Item 1. Business

2022-11-10 compared with 2021-11-12 · 115 added, 167 removed, 330 unchanged (46% of the section changed)

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We provide these comprehensive offerings primarily to original equipment manufacturers, or OEMs, in the following industries:

industrial, medical, defense and aerospace, automotive, communications networks and cloud solutions.

industrial, medical, defense and aerospace, automotive, communications networks and cloud infrastructure.

The combination of our advanced technologies, extensive manufacturing expertise and economies of scale enables us to meet the specialized needs of our customers.

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2) Components, Products and Services (CPS).

Components include interconnect systems (printed circuit board fabrication, backplanes, cable assemblies and plastic injection molding) and mechanical systems (enclosures and precision machining).

Components include printed circuit boards, backplanes and backplane assemblies, cable assemblies, fabricated metal parts, precision machined parts, and plastic injected molded parts.

Products include memory solutions from our Viking Technology division;

high-performance storage platforms for hyperscale and enterprise solutions from our Viking Enterprise Solutions (VES) division;

optical, radio frequency (RF) and microelectronic (microE) design and manufacturing services from Advanced Micro Systems Technologies;

optical, radio frequency (RF) and microelectronic (microE) design and manufacturing services from Advanced Microsystems Technologies;

defense and aerospace products from SCI Technology;

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CPS generated approximately 20% of our total revenue in 2022.

We have manufacturing facilities in 20 countries on six continents.

We service our customers from 24 countries on five continents.

We locate our facilities near our customers and their end markets in major centers for the electronics industry or in lower cost locations.

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• vertically integrated global/regional manufacturing capabilities;

• comprehensive IT systems and a flexible global supplier base;

• comprehensive IT systems and flexible global supplier base;

• expertise in serving diverse end markets;

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Attracting and Retaining Long-Term Customer Partnerships.

A core component of our strategy is to attract, build and retain long-term partnerships with companies in growth industries that will benefit from our global footprint and unique value proposition in advanced electronics manufacturing.

A core component of our strategy is to attract, build and retain long-term partnerships with companies in growth industries that will benefit from our global/regional footprint and unique value proposition in advanced electronics manufacturing.

Promoting New Product Introduction (NPI) and Joint Design Manufacturing (JDM) Solutions.

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We continually seek to identify and undertake strategic transactions that give us the opportunity to grow our business by accessing new customers' products, manufacturing solutions, repair service capabilities, intellectual property, technologies and geographic markets.

In addition, we plan to continue to pursue OEM divestiture transactions that will augment existing strategic customer relationships or build new relationships with customers in attractive end markets.

In an OEM divestiture transaction, we purchase manufacturing assets and hire employees from a customer and enter into a long-term supply agreement with such customer to provide products previously manufactured by them.

Potential future transactions may include a variety of different business arrangements, including acquisitions, asset purchases, spin-offs, strategic partnerships, restructurings and divestitures.

Continuing to Seek Cost Savings and Efficiency Improvements.

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We continue to invest in factory automation, process improvements, robotics and AI to further enhance our efficiency output.

We maintain extensive operations in lower cost locations, including Latin America, Eastern Europe, China, Southeast Asia and India, and we plan to expand our presence in these lower cost locations as appropriate, taking into consideration tariffs and other factors, to meet the needs of our customers.

We believe we are well positioned to take advantage of future opportunities on a global/regional basis as a result of our existing manufacturing footprint in 20 countries on six continents.

Our results of operations have been negatively impacted by rapidly changing market and economic conditions caused by the COVID-19 pandemic, as well as by numerous measures imposed by government authorities to try to contain the virus.

These conditions and measures disrupted our operations and those of our customers, interrupted the supply of components, temporarily limited the types of products we could manufacture and the capacity of our logistics providers to deliver those products, and resulted in temporary closures of manufacturing sites and reduced staffing as mandated by government orders.

Although employee infections have not yet had a significant impact on our operations, these conditions and measures require us to perform contact tracing, exclude potentially infected employees from the workplace and clean work areas used by infected employees.

We are unable to accurately predict the full impact that the COVID-19 pandemic will have on us due to a number of uncertainties, including the duration of ongoing supply chain constraints directly and indirectly caused by the pandemic, the extent of the impact of the pandemic on our customers' businesses, the number of employees who may become infected or exposed to infected persons whom we would then be required to exclude from our plants, the need for temporary plant closures caused by large scale employee infections, the duration of the outbreak, the continued efficacy and availability of COVID-19 vaccines, the geographic locations of any future outbreaks, including outbreaks caused by variants of COVID-19 and actions that government authorities may take in response, such as the potential reimposition of government restrictions on staffing and the types of products we are permitted to build.

However, we believe it is likely that the pandemic will continue to have a negative impact on our business, results of operations and financial condition for the foreseeable future.

We believe we are well positioned to take advantage of future opportunities on a global/regional basis.

Our Competitive Strengths

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Our end-to-end solutions are among the most comprehensive in the industry because we focus on adding value before and after the actual manufacturing of our customers' products.

These solutions also enable us to 1) provide our customers with a single source of supply for their design, supply chain and manufacturing needs, 2) reduce the time required to bring products to market, 3) lower product costs and 4) allow our customers to focus on those activities they expect to add the highest value to their business.

These solutions also enable us to 1) provide our customers with a single source of supply for their design, supply chain and manufacturing needs, 2) reduce the time required to bring products to market and 3) lower product costs, while allowing our customers to focus on those activities they expect to add the highest value to their business.

We believe our end-to-end solutions allow us to develop closer relationships with our customers and more effectively compete for their future business.

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Our engineering engagement models include Joint Design Manufacturing (JDM), Contract Design Manufacturing (CDM) and consulting engineering for DFx, Value Engineering (cost reduction re-design), and design for global environmental compliance regulations such as the European Union's Restrictions of Hazardous Substances (RoHS) and Waste Electrical and Electronic Equipment (WEEE).

We focus on industry segments that include industrial, medical, defense and aerospace, automotive, communications networks and cloud solutions.

We focus on industry segments that include industrial, medical, defense and aerospace, automotive, communications networks and cloud infrastructure.

System solutions for these industry segments are supported by our vertically integrated component technologies, namely printed circuit boards, backplanes, enclosures, cable assemblies, precision machining, plastics, memory modules, and optical, RF and microelectronics modules.

In these engagement models, our customers bring market knowledge and product requirements.

We provide complete design engineering and new product introductions (NPI) services.

For JDM products, typically the intellectual property is jointly owned by us and the customer, and we perform manufacturing and logistics services.

In these engagement models, our customers bring market knowledge and product requirements and we provide complete design engineering and new product introductions (NPI) services.

For JDM products, the intellectual property is typically jointly owned by us and the customer, and we perform manufacturing and logistics services.

For CDM projects, customers pay for all services and own the intellectual property.

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Our customers benefit significantly from our experience in these areas, including product cost reduction, minimization of assets deployed for manufacturing, accelerated time-to-market and a simplified supply chain.

Key system components we manufacture include high-technology printed circuit boards and printed circuit board assemblies, backplanes and backplane assemblies, enclosures, cable assemblies, plastic injection molded products, precision machined components, optical and RF modules and memory modules.

Key system components we manufacture include high-technology printed circuit boards and printed circuit board assemblies, backplanes and backplane assemblies, cable assemblies, fabricated metal parts, precision machined parts, plastic injected molded parts, and optical and RF modules and memory modules.

These components and sub-assemblies are integrated into a final product or system, configured and tested to our customer’s or the end-customer’s specifications and delivered to the final point of use, with us managing the entire supply chain.

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Examples of products for which our experience and vertically integrated model provide competitive advantage include wireless base stations, network switches, routers and gateways, optical switches, servers and storage appliances, automotive products, avionics and satellite systems, magnetic resonance imaging (MRI) and computer tomography (CT) scanners, and equipment used in semiconductor manufacturing processes, including equipment for photolithography, chemical mechanical polishing, vapor deposition and robotics for wafer transfer.

For these and many other products, customers can gain competitive advantage with our manufacturing technology, while reducing the capital requirements associated with manufacturing and global supply chain management.

For these and many other products, customers can gain a competitive advantage with our manufacturing technology, while reducing the capital requirements associated with manufacturing and global supply chain management.

Advanced Component Technologies.

We provide advanced component technologies, which we believe allow us to differentiate ourselves from our competitors.

These advanced technologies include the fabrication of complex printed circuit boards, backplanes, enclosures, cable assemblies, precision machining, plastics, memory modules, and optical, RF and microelectronics modules.

For example, we produce some of the most advanced printed circuit boards and backplanes in the world, with up to 70 layers, that are manufactured with a range of low signal loss, high-performance materials and include features such as buried capacitance and thin-film resistors, high-density interconnects and micro via technology.

We also manufacture high-density flex and rigid-flex printed circuit boards with up to 32 layers and 8 transition layers for the defense and aerospace markets and high-end medical electronics market.

These advanced technologies include the fabrication of complex printed circuit boards, backplanes and backplane assemblies, cable assemblies fabricated metal parts, precision machined parts, plastic injected molded parts, memory modules, and optical, RF and microelectronics modules.

For example, we produce some of the most advanced printed circuit boards and backplanes in the world that are manufactured with a range of low signal loss, high-performance materials and include features such as buried capacitance and thin-film resistors, high-density interconnects and micro via technology.

We also manufacture high-density rigid-flex printed circuit boards with up to 32 layers and 8 transition layers for the defense and aerospace markets and high-end medical electronics market.

Our printed circuit board assembly technologies include micro ball grid arrays, chip scale packages, fine-pitch discretes and small form factor radio frequency and optical components, chip on board, as well as advanced packaging technologies used in high pin count applications for specific integrated circuits and network processors.

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Our assembly services use advanced technologies, including precision optical alignment, multi-axis precision stages and machine vision technologies.

We use sophisticated procurement and production management tools to effectively manage inventories for our customers and ourselves.

We use sophisticated procurement and production management tools to manage inventories for our customers and ourselves as effectively as possible.

We have also developed build-to-order (BTO) and configure-to-order (CTO) systems and processes that enable us to manufacture and ship finished systems in as little as 8 hours after receipt of an order.

We utilize a centralized Technology Council to coordinate the development and introduction of new

technologies to meet our customers' needs in various locations and to increase technical collaboration among our facilities and divisions.

We utilize a centralized Technology Council to coordinate the development and introduction of new technologies to meet our customers' needs in various locations and to increase technical collaboration among our facilities and divisions.

Global Manufacturing Capabilities.

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As such, they require global solutions that include regional manufacturing for selected end markets, especially when time to market, local manufacturing or content and low cost solutions are critical objectives.

Our global network of manufacturing facilities in 20 countries provides our customers a combination of sites to maximize both the benefits of regional and low cost manufacturing solutions and repair services, and to help alleviate tariff costs.

In addition to our manufacturing and repair locations in 20 countries, we support our customers’ logistics and repair requirements through a certified partner network worldwide.

We offer customers five regions in which all of our technology and components, integrated manufacturing and logistics solutions can be implemented and can serve both regional and global business needs.

Our global network of manufacturing facilities provides our customers a combination of sites to maximize both the benefits of regional and low cost manufacturing solutions and repair services.

In addition to our manufacturing and repair locations, we support our customers’ logistics and repair requirements through a certified partner network.

To manage and coordinate our global operations, we employ an enterprise-wide Enterprise Resource Planning (ERP) system at substantially all of our manufacturing locations that operates on a single IT platform and provides us with company-wide inventory planning and purchasing capabilities.

This system enables us to standardize planning and purchasing at the facility level and to help optimize inventory visibility and management, improve asset utilization worldwide and reduce risk throughout the entire product lifecycle.

This system enables us to standardize planning and purchasing at the facility level and to optimize inventory visibility and management, improve asset utilization worldwide and reduce risk throughout the entire product lifecycle.

Our systems also enable our customers to receive key information regarding the status of their programs.

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Our primary supply chain goal is to consolidate our global spend to create the synergy and leverage to drive our supply base for better cost competitiveness, more favorable terms and leading-edge supply chain solutions.

As a result, we often receive more favorable terms and supply chain solutions from suppliers, which generally enables us to provide our customers with greater total cost reductions than they could obtain themselves.

As a result, we often receive favorable terms and supply chain solutions from suppliers, which generally enables us to provide our customers with greater total cost reductions than they could obtain themselves.

Our strong supplier relationships are beneficial when electronic components and other materials are in short supply and provide us the necessary support to better optimize the use of our inventories.

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We collaborate with our customers to enable us to respond to their changing component requirements and to reflect any changes in these requirements in our ERP system.

This system enables us to forecast future supply and demand imbalances and develop strategies to help our customers manage their component requirements, especially during supply shortages that have affected our industry in the past.

This system enables us to forecast

future supply and demand imbalances and develop strategies to help our customers manage their component requirements, especially during supply shortages that have affected our industry in the recent past.

Our enterprise-wide ERP systems provide us with company-wide information regarding component inventories and orders to help optimize inventories, planning and purchasing at the facility level.

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Account teams led by global account managers are directly responsible for account management.

Global account managers coordinate the additional resource required to facilitate the customer-specific solutions.

Global account managers coordinate the additional resources required to facilitate customer-specific solutions.

As needed, these teams may include subject matter experts in design, specific technology components, services, products, and supply chain.

These teams create the hub for interaction between the customer and our locations, providing local support to customer worldwide.

These teams create the hub for interaction between the customer and our locations, providing local support to customers worldwide.

Expertise in Serving Diverse End Markets.

We have experience in serving our customers in the industrial, medical, defense and aerospace, automotive, communications networks and cloud solutions end markets.

We have experience in serving customers in the industrial, medical, defense and aerospace, automotive, communications networks and cloud infrastructure end markets.

Our diversification across end markets reduces our dependence upon any one customer or end market.

In order to cater to the specialized needs of customers in particular market segments, we have dedicated personnel, and in some cases facilities, with industry-specific capabilities and expertise.

In order to service to the specialized needs of customers in particular market segments, we have dedicated personnel, and in some cases facilities, with industry-specific capabilities and expertise.

Expertise in Industry Standards and Regulatory Requirements.

We maintain compliance with industry standards and regulatory requirements applicable to certain markets, including, among others, medical, automotive, energy and defense and aerospace.

We maintain compliance with industry standards and regulatory requirements applicable to certain markets, including, among others, medical, automotive and defense and aerospace.

Our Products and Solutions

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In-circuit testing verifies that all components are properly inserted and attached and that electrical circuits are complete.

We perform functional tests to confirm the board or assembly operates in accordance with its final design and manufacturing specifications.

Functional tests are performed to confirm the board or assembly operates in accordance with its final design and manufacturing specifications.

We design and procure test fixtures and develop our own test software or use our customers' test fixtures and test software.

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Examples include complex electro-mechanical assemblies, fluid and blood analysis systems, food dispensing equipment, diagnostic medical devices, high-voltage power management systems, rotating x-ray equipment for airport security, particle analyzers for homeland security and motorized magnetic resonance imaging units.

Our facilities also support full system level assembly and test and logistic support for a variety of complex electronic systems, including radio base stations and transmission equipment for 5G wireless networks, optical central offices and wireline switching and routing hardware, server and storage systems for data centers, carriers central offices and video streaming service providers, surgical controllers, ultrasound systems, patient monitoring systems, automotive sensor assemblies and power control modules.

vehicle power control systems and modules.

With decades of experience in automated system assembly and test, we have focused on glucose meters, disposable sensors, IOT communication modules and disposable drug delivery systems.

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Printed Circuit Boards.

We have the ability to produce multilayer printed circuit boards on a global basis with high layer counts and fine line circuitry.

We currently produce printed circuit boards with up to 70 layers and circuit trace widths as narrow as two mils (50 microns).

We produce a wide range of multilayer printed circuit boards on a global basis with high layer counts and fine line circuitry.

Specialized production equipment along with an in-depth understanding of high performance laminate materials allow us to fabricate some of the largest form factor and highest speed circuit boards in the industry.

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We manufacture backplane assemblies by press-fitting high density connectors into plated through-holes in the fabricated backplane.

In addition, many of the newer, advanced technology backplanes require SMT attachment of passive discrete components as well as active high-pin count ball grid array packages.

In addition, many of the newer, advanced technology backplanes require surface-mounted attachment of components, including active high-pin count packages that come in a variety of sophisticated package types.

These advanced assembly processes require specialized equipment and a strong focus on quality and process control.

We also perform in-circuit and functional tests on backplane assemblies.

We often perform in-circuit and functional tests on backplane assemblies.

We have developed proprietary technologies and process “know-how” which enable backplanes to run at data rates in excess of 50 gigahertz.

We currently have capabilities to manufacture backplanes at greater than 60 layers in sizes up to 26x40 inches and up to a nominal thickness of 0.425 inches and in a wide variety of high performance laminate materials.

These are among the largest and most complex commercially manufactured backplanes and the test equipment we have ensures the quality and performance of these backplane systems is “world class.” We are not only fully capable of the electronic integrity testing of these backplanes, but can also utilize state of the art x-ray equipment to verify defect-free installation of the new high density/high speed connectors.

Lastly, performance of the backplane system is checked through a signal integrity tester to ensure the product will meet its design intent.

We are one of a limited number of manufacturers with this comprehensive suite of capabilities.

These are among the largest and most complex commercially manufactured backplanes and the test equipment we have ensures the quality and performance of these backplane systems is “world class.” We are capable of testing the signal integrity of these backplanes, and often also utilize state of the art x-ray equipment to verify defect-free installation of the new high density/high speed connectors.

Cable Assemblies.

Cable assemblies are used to connect modules, assemblies and subassemblies in electronic devices.

We provide a broad range of cable assembly products and services, from cable assemblies and harnesses for automobiles, to complex harnesses for industrial products and semiconductor manufacturing equipment.

Cable assemblies are used to connect modules, assemblies and subassemblies, including backplane assemblies in electronic systems.

We provide a broad range of cable assembly products and services, from cable assemblies and harnesses for automobiles to very complex harnesses for industrial products and semiconductor manufacturing equipment.

We also provide mechanical assembly and integration services where we often assemble, integrate and test cables with electromechanical systems or sub-systems.

We design and manufacture a broad range of high-speed data, radio frequency and fiber optic cabling products.

Our cable assemblies are often used in large rack systems to interconnect subsystems and modules.

Our manufacturing footprint with facilities in the U.S., Mexico, the EU and China enables us to support our customers NPI and volume production needs on a global basis.

Plastic Injection Molded Products.

Plastic injection molded products are used to create a vast array of everyday items, from very small intricate mechanical components, to cosmetic enclosures designed to protect sensitive electronic equipment.

Our diverse capability within the plastic injection molding space spans all major markets and industries.

We are equipped with nearly 80 plastic injection molding machines with clamping pressure ranging from 28 tons to 1,000 tons.

Our experienced tooling, process, quality and resin engineers work concurrently using a scientific molding approach to develop cost effective, highly reliable manufacturing solutions for medical, industrial, defense, multimedia, computing and data storage customers.

We apply the principles of scientific molding, combined with strategic partnerships with U.S.

and Asian toolmakers, to enable delivery of cost effective high-quality plastic manufacturing solutions.

Mechanical Systems.

Mechanical systems are used across all major markets to house and protect complex, critical and fragile electronic components, modules and sub-systems so that the system's functional performance is not compromised due to mechanical, environmental or any other usage conditions.

Our mechanical systems manufacturing services are capable of fabricating mechanical components, such as cabinets, chassis (via soft tool and hard progressive tools), frames, racks, and data storage enclosures integrated with various electronic components and sub-systems with power management, thermal management, sensing functions and control systems.

We manufacture a broad range of enclosures for a wide range of products from set-top boxes, medical equipment, alternative energy storage, data management shelves and data storage, to large and highly complex mechanical systems, such as those used in indoor and outdoor wireless base station products and high precision vacuum chambers for the semiconductor, telecom, networking, healthcare, aerospace and homeland security industries.

Our mechanical systems expertise is available at several of our state-of-the-art facilities worldwide.

Our operations provide metal fabrication by soft tools methodology, high-volume metal stamping and forging by hard tools with stage and progressive tools, plastic injection molding, robotic welding, powder coating, wet painting, plating and cleaning processes.

We also offer a suite of world-class precision machining services in the U.S., Mexico and Israel.

We use advanced numerically controlled machines enabling the manufacture of components to very tight tolerances and the assembly of these components in clean environments.

We build cable assemblies that are used in power systems typically classified as low and medium voltage.

Our manufacturing footprint with facilities in the U.S., the EU, Mexico and China enables us to support our customers’ NPI and volume production needs on a global basis.

Fabricated Metal Parts.

Parts that are fabricated from metal are often used in sub-assemblies and full enclosures, racks or cabinets that are used to house and protect complex, critical and fragile electronic components, modules and sub-systems so that the system's functional performance is not compromised due to mechanical, environmental or any other use conditions.

Our mechanical systems manufacturing services are capable of fabricating mechanical components that range from single parts to complex enclosures, racks or cabinets and we often integrate these with various electronic components and sub-systems including backplane assemblies and cables with power and thermal management, and other sensor and control systems.

Our services often will include overseeing specialist cleaning or surface treatments with our suppliers as well as painting using a variety of techniques in our own facilities.

Precision Machined Parts.

We offer a suite of world-class precision machining services in the U.S.

We use advanced numerically controlled machines enabling the manufacture of components that are machined to very tight tolerances and we often perform further assembly services with these components in clean-room environments.

Our capabilities include complex medium and large format mill and lathe machining of aluminum, stainless steel, plastics, ferrous and nonferrous alloys and exotic alloys.

We also have helium and hydrostatic leak-test capabilities.

By leveraging our established supply chain, we do lapping, anodizing, electrical discharge machining (EDM), heat-treating, cleaning, laser inspection, painting and packaging.

We have dedicated facilities supporting machining and complex integration with access to a range of state-of-the-art, computer-controlled machining equipment that can satisfy rigorous demands for production and quality meeting very tight tolerances.

This includes fully automated “lights-out” machinery that continues production in the absence of human operators and can operate 24/7.

By leveraging our established supply chain, we oversee lapping, anodizing, electrical discharge machining (EDM), heat-treating, cleaning, laser inspection, painting and packaging.

We have specialized facilities supporting machining and complex integration with access to a range of state-of-the-art, computer-controlled machining equipment that can satisfy rigorous demands for production and quality and meet very tight tolerance specifications.

With some of the largest horizontal milling machines in the U.S., we are a supplier of vacuum chamber systems for the semiconductor, flat-panel display, LED equipment, industrial, medical and AS9100-certified aerospace markets.

Advanced Micro Systems Technologies .

Plastic Injection Molded Parts.

Plastic injection molded parts are used to create a vast array of everyday items, from very small intricate plastic parts to cosmetic enclosures designed to protect sensitive electronic equipment.

Our diverse capability within the plastic injection molding space spans all major markets and industries.

We are equipped with nearly 80 plastic injection molding machines with a wide variety of clamping pressures.

Our experienced tooling, process, quality and resin engineers work concurrently using a scientific molding approach to develop cost-effective, highly reliable manufacturing solutions for medical, industrial, defense, multimedia, computing and data storage customers.

Strategic relationships with U.S.

and Asian toolmakers allow us to deliver cost-effective high-quality plastic manufacturing solutions.

Advanced Microsystems Technologies .

Optical and radio frequency (RF) components built off of advanced micro-electronics are key building blocks of many systems.

Our Advanced Micro Systems Technologies product technology and engineering division focuses on optical, RF and microelectronics (microE) design and manufacturing services.

Our Advanced Microsystems Technologies product technology and engineering division focuses on optical, RF and microelectronics (microE) design and manufacturing services.

Our mission is to deliver leading-edge technology solutions that enable our customer products while optimizing the value and performance of our customers’ applications.

Based on our microelectronic design and advanced manufacturing technologies, built off Advanced Micro Systems Technologies foundational IP, we provide RF and optical components, modules and systems for customers across many industries including the communications, networking, automotive, medical, industrial, military and aerospace markets.

Within the Advanced Micro Systems Technologies Division, we produce both passive and active optical components as well as modules that are built from a combination of industry standard and/or custom components and interconnected using microelectronic and micro-optic technologies to achieve a unique function.

Our experience in RF and optical communication and networking products spans long-haul/ultra-long-haul and metro applications for transport/transmission, as well as broadband access and switching applications, including last-mile solutions.

Based on our microelectronic design and advanced manufacturing technologies, built off Advanced Microsystems Technologies foundational IP, we provide RF and optical components, modules and systems for customers across many industries including the communications, networking, automotive, medical, industrial, military and aerospace markets.

Within the Advanced Microsystems Technologies Division, we produce both passive and active optical components as well as modules that are built from a combination of industry standard and/or custom components and interconnected using microelectronic and micro-optic technologies to achieve a unique function.

Our experience in RF and optical communication and networking products spans across long-haul/ultra-long-haul and metro applications for transport/transmission, as well as broadband access and switching applications, including last-mile solutions.

We currently supply optical products ranging from 10G to 800G to the optical communication marketplace.

For the medical end market, we develop components and subassemblies that support Sanmina’s medical manufacturing operations for products such as blood analyzers, food contamination analyzers, and specialized optical spectrometers and fluorometers utilizing the latest optical technologies.

In the automotive and industrial end markets, we are working with customers on next generation photonics based Lidar product offerings.

Our Advanced Micro Systems Technologies service offerings are designed to deliver end-to-end solutions with special focus on product design, test infrastructure development and commercialization, along with optical module and mmWave RF components and module manufacturing.

automotive and industrial end markets, we are working with customers on next generation photonics based Lidar product offerings.

Our Advanced Microsystems Technologies service offerings are designed to deliver end-to-end solutions with special focus on product design, test infrastructure development and commercialization, along with optical module and mmWave RF components and module manufacturing.

Customers can couple these components with Sanmina’s broader IMS services of blade server manufacturing, as well as system integration and test, providing a complete end-to-end solution for their customers.

Viking Technology.

Viking Technology supplies leading edge Solid State Drives (SSD), DRAM memory modules and Non-Volatile DIMMs (NVDIMM), along with state-of-the-art Microelectronics Multi-Chip Package (MCP) memory solutions.

Viking Technology supplies leading-edge Solid State Drives (SSD), DRAM memory modules and Non-Volatile DIMMs (NVDIMM), along with state-of-the-art ruggedized Microelectronics Multi-Chip Package (MCP) memory solutions.

Viking Technology provides DRAM memory and flash storage solutions, including high-performance computing SSDs tailored, high reliable / high performance small form factor flash and DRAM modules, to diverse application for the networking, industrial, data center, transportation, medical, AI to military markets.

To continue its leadership in the memory space, Viking Technology has invested in several advanced packaging technologies and products, such as multi-chip packaging, system-in-package, and rugged, reliable and secure storage class memory solutions.

These investments have enabled Viking Technology to support a wider range of markets and applications.

Viking Technology will continue its focus on the enterprise and embedded markets with further emphasis on markets such as military, defense and aerospace and industrial/automotive applications.

Viking Enterprise Solutions.

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VES provides end-to-end, design and manufacturing solutions for both platform-based and fully customized data center products.

From our US-based design and development team, we provide a full array of design services from early product conceptualization, through design, product validation and world-wide product certifications.

From our US-based design and development team, we provide a full array of services from early product conceptualization, through design, product validation and world-wide product certifications.

In addition, VES supports all phases of product manufacturing, including NPI, support for unique product configurations, RMA and product end-of-life support.

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Global Services.

We offer fulfillment and integration services, after-market services and life cycle management services to support the needs of customers in the communications, embedded computing, medical, industrial, 3D printing, and automotive markets worldwide.

Through our operational infrastructure of 30 Sanmina Global Services sites and a 31 site qualified repair partner network, we provide a wide range of services, including direct-order-fulfillment, integration and configure-to-order, high-level assembly, inventory and warranty management, repair, refurbishment, manufacturing, triage screening, advanced exchange, life-extension services, end of life and obsolescence management as well as sustaining and reverse engineering.

Drawing on a robust set of information systems, we offer configurable environments tailored to meet specific customer needs, including customized web portals, order and serial number tracking, special routings and marketing promotions.

Local, regional and global solutions are supported by a robust set of business processes that focus on quick-turn, inventory reduction and risk mitigation.

This can improve cycle times by leveraging infrastructure, people and technology to enable reliable shipments of products to end users worldwide generally within 24 to 72 hours, depending on our customer’s requirements.

Global Services complement our end-to-end manufacturing strategy by integrating engineering, supply chain, manufacturing, logistics and repair into a seamless solution for customers, for both Sanmina manufactured, and non-Sanmina manufactured products around the world.

Sanmina Global Services complements our end-to-end manufacturing strategy by integrating engineering, supply chain, manufacturing, logistics, repair and environmentally friendly disposition into a seamless solution for customers, for both Sanmina manufactured, and non-Sanmina manufactured products around the world.

We provide a wide range of services, including new product introduction, high-level assembly, distribution services and warranty management, life-extension services and end-of-life management as well as programs that focus on reuse, repair, refurbishment, recycle, recover and redesign.

42Q provides an innovative, world-class cloud-based manufacturing execution solution (MES) that is scalable, flexible, secure and easy to implement.

Our solution provides customers advantages in efficiencies and costs relative

to legacy systems and offers traceability and genealogy, multi-plant visibility, compliance management and on-demand work instructions.

Our solution provides customers advantages in efficiencies and costs relative to legacy systems and offers traceability and genealogy, multi-plant visibility, compliance management and on-demand work instructions.

Our End Markets

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We believe that markets involving complex, rapidly changing products offer opportunities to produce products with higher margins because they require higher value-added manufacturing services and may also include our advanced vertically integrated components.

Our diversification across market segments and customers helps mitigate our dependence on any particular market or customer.

Industrial/Medical/Defense/Automotive

We provide design and engineering, end-to-end component and complex assembly services to the industrial market.

We support a wide range of segments, including transportation, power management, industrial controls, instrumentation and test equipment, inspection and public safety equipment, capital equipment, and self-service kiosk solutions.

Our significant experience in the precision machining of components is utilized in highly complex systems such as vacuum chambers, photolithography tools, etch tools, wafer handling systems, airport security, 3D printing, flat panel display test and repair equipment, chem-mech planarization tools, optical inspection and x-ray equipment, explosive detection equipment, and large format printing machines.

We have specialized and dedicated facilities for the assembly of large / complex electro-mechanical, thermal and liquid-management equipment for applications, including ATMs, beverage dispensing, cash-counting and management systems, industrial printers and semiconductor capital equipment.

We are committed to serving companies that are leading the energy and clean technology revolution in the solar, wind, battery systems, LED lighting fixtures (including indoor, outdoor, industrial-grade and construction lighting products), and smart infrastructure industries.

Clean technology customers benefit from our end-to-end solutions in areas related to power electronics, control and distribution, smart meters and full-system integration of complex industrial power inverters.

In addition, our extensive range of electro-mechanical design and complex system manufacturing capabilities are an excellent fit across all clean technology segments.

Our design and manufacturing operations are strategically located in close proximity to clean technology business hubs.

We provide comprehensive manufacturing and related services to the medical industry, including design, logistics, repair and regulatory services.

The design, manufacturing and repair of products for the medical industry often requires compliance with domestic and foreign regulations, including the Food and Drug Administration's (FDA's) quality system regulations and the European Union's medical device directive.

In addition to complying with these standards, our medical facilities comply with ISO 13485 (formerly EN 46002) and ISO 9001, where required.

We manufacture components, sub-assemblies and systems for a broad range of medical devices, including blood glucose meters, disposable sensors and insulin pumps, computed tomography scanner assemblies, respiration systems, blood analyzers, molecular diagnostic systems, cosmetic surgery systems, ultrasound imaging systems and a variety of patient monitoring equipment.

We provide our end-to-end services to the defense, aerospace and high-reliability electronics industry.

We design, manufacture and support a comprehensive range of defense and aerospace products, including avionics systems and processors, cockpit and wireless communications systems, tactical and secure network communications systems, radar subsystems, machine vision systems, unmanned aircraft airframes and avionics, and fiber-optic systems, security and bomb detection for defense related applications.

We believe our experience, as well as product design and engineering capabilities, are key competitive strengths in these markets.

We provide manufacturing services to the automotive industry for sensors, controllers, engine control units, infotainment modules, eMobility sub-modules, LIDAR, Electric Vehicle (EV) charging system sub-modules, heating ventilation and air-conditioning (HVAC) control modules, a wide array of LED (Light Emitting Diode) interior and exterior light assemblies, as well as cables for interconnect solutions.

We also provide design support, product and process qualification, manufacturing, supply chain management, supplier quality assurance and end-of-life services.

Substantially all of our automotive facilities are IATF 16949 certified and produce printed circuit boards, printed circuit board assemblies, cable assemblies and higher level electronic assemblies.

Communications Networks & Cloud Solutions

Communications Networks.

In the communications sector, we leverage our extensive product design and engineering capabilities to develop and manufacture advanced communications products and components for LTE, 5G and microwave wireless RF filters and antennas, wireline access, switching, routing, optical networking and transmission and enterprise networking systems.

Products we manufacture include wireless base stations, remote radio heads and small cells, point-to-point microwave systems and other fronthaul/backhaul solutions, satellite receivers and various radio frequency appliances, optical PON, metro and long-haul, transmission hardware and switching along with core, service and edge routers.

We also design and manufacture advanced optical, RF and microelectronic components which are key elements in many of these products.

Cloud Solutions .

We provide comprehensive design and manufacturing solutions, as well as BTO and CTO services, to the embedded computing and data storage markets.

We tightly couple our vertically integrated supply chain with manufacturing and logistics enabling the assembly and distribution of products all over the world.

In addition, we manufacture a broad range of products with embedded processor capabilities, including digital home gateways, professional audio-video equipment, a variety of touch-screen equipment and internet connected entertainment devices.

Our vertical integration capabilities include racks, enclosures, cables, complex multi-layer printed circuit boards, printed circuit board assemblies and backplanes, fiber optics and high-level assembly and test, direct order fulfillment and repair services.

In addition, we have designed and developed some of the most compact and powerful storage modules available in the market today, which we have coupled with our global, vertically integrated supply chain to deliver some of the most compelling embedded computing and storage solutions to the data storage industry.

Sales to our ten largest customers typically represent approximately 50% of our net sales.

Nokia represented 10% or more of our net sales in 2021, 2020 and 2019.

We seek to establish and maintain long-term relationships with our customers.

Historically, we have had substantial recurring sales from existing customers.

We seek to expand our customer base through our marketing and sales efforts as well as acquisitions.

We have been successful in broadening relationships with customers by providing vertically integrated products and services as well as multiple products and services in multiple locations.

We typically enter into supply agreements with our major OEM customers with terms ranging from three to five years.

Our supply agreements generally do not obligate the customer to purchase minimum quantities of products.

However, the customer is typically liable for the cost of the materials and components we have ordered to meet their production forecast but which are not used, provided that the material was ordered in accordance with an agreed-upon procurement plan.

In some cases, the procurement plan contains provisions regarding the types of materials for which our customers will assume responsibility.

Our supply agreements generally contain provisions permitting cancellation and rescheduling of orders upon notice and are subject to cancellation charges and, in some cases, rescheduling charges.

Order cancellation charges vary by product type, depending how far in advance of shipment a customer notifies us of an order cancellation.

In some circumstances, our supply agreements with customers include provisions for cost reduction objectives during the term of the agreement, which can have the effect of reducing revenue and profitability from these arrangements.

diversification across the industrial, medical, defense and aerospace, automotive, communications networks and cloud infrastructure market segments and customers helps mitigate our dependence on any particular market or customer.

Because of the diversity of our customer base, we generally have not experienced significant seasonality in our business in recent years.

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Therefore, we do not believe the backlog of expected product sales covered by firm orders is a meaningful measure of future sales.

Sales and Marketing

Customers and Marketing

A key component of our strategy is to attract and retain long-term customer partnerships with leading companies in growth industries that will benefit from our global/regional footprint and unique value proposition in advanced electronics manufacturing.

We develop relationships with our customers and market our vertically integrated manufacturing solutions through our sales and marketing staff.

Our sales team works closely with our customers' engineering and technical personnel to understand

their strategy and roadmaps to enable their go-to-market strategy.

Our sales team works closely with our customers' engineering and technical personnel to understand their strategy and roadmaps to enable their go-to-market strategy.

Our sales and marketing staff supports our business strategy of providing end-to-end solutions by encouraging cross-selling vertically integrated manufacturing solutions and component manufacturing across a broad range of major OEM products.

We utilize our existing technical capabilities in design, technology components, and complex assembly, integration, and after-sales services to provide tailored solutions to our customers.

With our extensive market knowledge and global footprint, we can align these solutions to our facilities in each region around the world.

Our structure supports this strategy with global customer-centric account teams.

Each account team is led by a global account manager who is directly responsible for account management.

Global account managers coordinate the resources required to facilitate the customer-specific solutions.

As needed, these teams may include subject matter experts in design, specific technology components, services, products, and supply chain.

These teams create a hub for interaction between the customer and Sanmina locations, providing local support to customer worldwide.

With our extensive market knowledge and global/regional footprint, we can align these solutions to our facilities in each region around the world.

Sales to our ten largest customers typically represent approximately 50% of our net sales.

Nokia and Motorola each represented 10% or more of our net sales in 2022.

Nokia represented 10% or more of our net sales in 2021 and 2020.

We typically enter into supply agreements with our major OEM customers with terms ranging from three to five years.

Our supply agreements generally do not obligate the customer to purchase minimum quantities of products.

In some cases, the procurement plan contains provisions regarding the types of materials for which our customers will assume responsibility.

Our supply agreements generally contain provisions permitting cancellation and rescheduling of orders upon notice and are subject to cancellation charges and, in some cases, rescheduling charges.

For our integrated manufacturing solutions business, we face competition from other major global EMS companies such as Benchmark Electronics, Inc., Celestica, Inc., Flex Ltd., Hon Hai Precision Industry Co., Ltd.

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We compete with different companies depending on the type of solution or geographic area.

We believe the primary competitive factors in our industry include manufacturing technology, quality, global footprint, delivery, responsiveness, provision of value-added solutions and price.

We believe the primary competitive factors in our industry include manufacturing technology, quality, global/regional footprint, delivery, responsiveness, provision of value-added solutions and price.

We believe our primary competitive strengths include our ability to provide mission critical end-to-end solutions, product design and engineering resources, vertically integrated manufacturing solutions, advanced technologies, global manufacturing capabilities, global supplier base, customer focus and responsiveness, expertise in serving diverse end markets, and expertise in industry standards and regulatory requirements.

Intellectual Property

and foreign patents and patent applications relating to, among other things, printed circuit board manufacturing technology, enclosures, cables, memory modules, optical technology, medical devices and computing and storage.

For other proprietary processes, we rely primarily on trade secret protection.

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and internationally.

Sanmina, Viking, Viking Enterprise Solutions, Viking Technology and 42Q are registered trademarks of Sanmina Corporation.

Compliance with Government Regulations

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Furthermore, our compliance with these regulations is subject to audit or investigation by governmental authorities and, from time to time, we receive formal and informal inquiries from government agencies and regulators regarding our compliance.

Finally, the design, manufacture and repair of products that we conduct for the medical industry often requires compliance with domestic and foreign regulations, including the Food and Drug Administration’s (FDA’s) quality system regulations and the European Union’s medical device directive.

In addition to complying with these standards, our medical facilities comply with ISO 13485 (formerly EN 46002) and ISO 9001, where required.

Should we be found to have violated one or more of such regulations, we could become subject to civil damages (which in some cases can be trebled) or criminal penalties and administrative sanctions, including fines, penalties, appointment of government monitors, termination of our government contracts and, ultimately, debarment from doing further business with the U.S.

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General Information About Our Human Capital Resources

As of October 2, 2021, we had approximately 35,000 employees, including approximately 3,000 temporary employees, in 23 countries.

Approximately 50% of our employees are located in the Americas, 13% are located in EMEA and 37% are located in China and Asia Pacific.

As of October 1, 2022, we had approximately 34,000 employees and approximately 4,000 temporary employees, in 24 countries.

Region Approximate Breakdown of Employees

Americas 51 %

Core Principles

The principles of the Responsible Business Alliance (RBA) are fundamental to our corporate culture and core values and are reflected in our commitments to our customers, stakeholders, employees and communities in which we do business around the world.

These commitments drive us to provide a safe and positive work environment for our employees that emphasizes learning and professional development, respect for individuals and ethical conduct, and that is facilitated by a direct management-employee engagement model.

For over a decade, we have tracked human capital metrics that we consider to be key to our business, including health and safety, career growth and development, turnover, hiring and diversity and inclusion.

At Sanmina, we believe our employees are the key to our success.

We cultivate an agile, innovative workplace culture fueled by collaboration, diversity, equity and inclusion.

Having highly engaged employees is essential to our culture and achieving our mission.

We embrace diverse perspectives and empower our employees to improve our organization, help us innovate, and continuously strengthen our workplace.

As a founding member of the Responsible Business Alliance (“RBA”), the principles of the RBA are fundamental to our corporate culture and core values and are reflected in our commitments to our customers, stakeholders, employees and communities in which we do business around the world.

We have aligned our work programs, processes and procedures to the RBA Code of Conduct to help ensure a safe and positive work environment for our employees that emphasizes learning and professional development, respect for individuals and ethical conduct, and that is facilitated by a direct management-employee engagement model.

Management regularly reviews these metrics and seeks to improve them.

Health and Safety

The health and safety of our employees is of utmost important to us.

The health and safety of our employees is of utmost importance to us.

In the U.S., we are subject to the requirements of the United States Department of Labor’s Occupational Safety & Health Administration (“OSHA”) and we are guided by the Environmental Health and Safety principles as described in the RBA’s Code of Conduct worldwide.

We conduct regular self-assessments and audits to ensure compliance with our health and safety guidelines and regulatory requirements.

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Career Growth and Development

We invest resources in professional development and growth as a means of improving employee performance and improving retention.

For example, we launched our “Sanmina University” online training platform over a decade ago to provide employees with continuous learning, professional training and development opportunities.

Over 12,000 employees took courses on this platform in 2021.

We invest resources in professional development and growth as a means of improving employee performance and retaining our employees.

We leverage both formal and informal programs, including in-person, virtual, social and self-directed learning, mentoring, coaching, and outside seminars and educational programs, when applicable, to identify, foster, and retain top talent.

Employees have access to courses through our learning and development platforms including Pilgrim, Sanmina Online Education and Sanmina University.

Our performance review process is intended to promote transparent communication of team member performance, which we believe is a key factor in our success.

The performance reviews enable ongoing assessments, reviews, and mentoring to identify career development and learning opportunities for our employees.

Our emphasis on employee retention, talent reviews, employee evaluations and succession planning contributed to a promotion rate of approximately 5% in 2022.

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We believe the combination of competitive compensation, career growth and development opportunities have helped increase employee tenure and reduce voluntary turnover.

The average tenure of our employees is approximately eight years and more than one third of our employees have been employed by us for more than ten years.

The average tenure of our employees is approximately seven years and approximately 30% of our employees have been employed by us for more than ten years.

Hiring Practices

We recruit the best people for the job without regard to gender, ethnicity or other protected traits and it is our policy to comply fully with all domestic, foreign and local laws relating to discrimination in the workplace.

Diversity and Inclusion

Recognizing and respecting our global presence, we strive to maintain a diverse and inclusive workforce everywhere we operate.

Almost 50% of our employees worldwide are female and, in the U.S., non-Caucasian employees account for more than 50% of the employee base.

Our diversity and inclusion principles are also reflected in our employee training, in particular with respect to our policies against harassment and bullying and the elimination of bias in the workplace.

Diversity, Equity and Inclusion

At Sanmina, we are focused on creating a culture of belonging where employees can be their authentic selves and cultivate a workplace where everyone has an opportunity to succeed.

Recognizing and respecting our global presence, we strive to maintain a diverse, equitable and inclusive workforce everywhere we operate.

Almost 50% of our employees worldwide are female and, in the U.S., non-Caucasian employees account for almost 55% of the employee base.

Our diversity, equity and inclusion principles are reflected in our employee training, in particular with respect to our policies against harassment and bullying and the elimination of bias in the workplace.

Management Engagement Practices

We believe in a direct management-employee engagement model by which managers and employees maintain a regular dialogue about working conditions, compensation, compliance, safety and advancement opportunities.

This model is also reflected in our training programs, which emphasize the need to report concerns about violations of policy or law.

We believe in a direct management-employee engagement model by which managers and employees maintain a regular dialogue about working conditions, compensation, compliance with laws and applicable standards, safety and advancement opportunities.

This model is also reflected in our training and compliance programs, which emphasize the need to report concerns about violations of policy or law.

None of our U.S.

employees are represented by a labor union.

In some international locations, our employees are represented by labor unions on either a national or plant level or are subject to collective bargaining agreements.

international locations, our employees are represented by labor unions on either a national or plant level or are subject to collective bargaining agreements.

Available Information

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Alan Reid 59 Executive Vice President, Global Human Resources

Dennis Young 70 Executive Vice President, Worldwide Sales and Marketing

Jure Sola has served as our Chairman and Chief Executive Officer since August 2020.

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(British Oxygen Company), a global industrial gases and engineering company, from September 1986 to June 2000.

Dennis Young has served as our Executive Vice President of Worldwide Sales and Marketing since March 2003.

Prior to joining Sanmina, Mr.

Young served as Senior Vice President of Sales from May 2002 to March 2003 and Vice President of Sales from March 1998 to May 2002 of Pioneer-Standard Electronics, a provider of industrial and consumer electronic products.

Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.

What changed 10-K

Item 1. Business