Jabil Inc. JBL expands its commitment to sustainability by acquiring Retronix, a provider in the reclamation and refurbishment of electronic components. Deal terms were not disclosed.
This move bolsters Jabil's capabilities in promoting the circular economy, aiming to minimize electronic waste through the reuse and recycling of product components.
Retronix distinguishes itself with a proprietary Laser Reballing service, which benefits High-Reliability applications by preserving component integrity and extending product lifespan. Retronix also caters to various component preparation services, such as component retinning, component recovery, and authenticity verification.
The integration of Retronix's technologies with Jabil's existing services magnifies the potential for waste reduction and opens new avenues for value creation in the handling of electronic components.
Jed Pecchioli, vice president of supply chain at Jabil, remarked on the synergistic potential of the merger, "Like Jabil, Retronix works with leading brands across industries. Now, these services will be available to Jabil customers, and together, we will strengthen the circular economy."
Price Action: JBL shares are trading lower by 1.06% at $127.04 on the last check Monday.
Disclaimer: This content was partially produced with the help of AI tools and was Reviewed And Published By Benzinga Editors.
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