Flex Factory in Althofen, Austria Admitted into World Economic Forum Global Lighthouse Network

Rhea-AI Summary

Flex (NASDAQ: FLEX) announced that its factory in Althofen, Austria, has been admitted into the World Economic Forum's Global Lighthouse Network, recognizing its adoption of Industry 4.0 technologies. The site improved operational efficiency, attracting higher-margin medical business and boosting revenue by 50% without expanding its physical footprint. Key innovations include a virtual operator assistance system, real-time supply chain visibility, integrated materials management, and advanced analytics. Flex aims to leverage these advancements for improved manufacturing and sustainability.

Positive

• Revenue increase of 50% within the same physical footprint.
• Successful deployment of Industry 4.0 technologies leading to improved operational efficiency.
• Membership in the Global Lighthouse Network enhances Flex's reputation and competitive advantage.

Negative

• None.

SAN JOSE, Calif., Sept. 27, 2021 /PRNewswire/ -- In recognition of its adoption and deployment of Industry 4.0 (I4.0) technologies, Flex (NASDAQ: FLEX) today announced, following a rigorous application process, its factory site in Althofen, Austria has been admitted into the World Economic Forum's Global Lighthouse Network (GLN). The GLN's focus is to accelerate inclusive technology adoption in manufacturing by building a cross-industry network that includes some of the most advanced factories and connected value chains worldwide.

The Flex site in Althofen demonstrated how it has deployed I4.0 technologies to improve operational efficiency and agility. By meeting higher regulatory and quality standards, Flex has attracted higher-margin and longer lifecycle medical business, increasing revenue by 50% within the same physical footprint. Its investment in the Althofen site is a perfect example of Flex's commitment of continuous technology investment and improvement across its factories.

The Flex Althofen site used I4.0 technology to develop a more substantial competitive and differentiated advantage, creating unique solutions and value for Flex customers. The nomination of the Althofen site showcased the following innovation areas:

• LISA (Line Stop Assistant), a virtual operator assistance system that supports line operators by detecting quality issues and halting the production line.
• Flex Pulse – giving end-to-end visibility into Flex's entire supply-chain in real time to help overcome supply chain complexity.
• Integrated material management and automation - providing just-in-time materials and reducing line-side-stock to free up production space and enable 600 product changeovers per month.
• Energy usage management – integrating IT infrastructure with Industrial Internet of Things (IIoT) to develop a real-time energy flow data monitoring and alerting platform.
• Advanced analytics platform – integrating data from machines, optical analytics systems and other sources to create real-time dashboards designed to boost performance across the production lines. Examples include simulation modeling to predict required maintenance and unsupervised machine learning for anomaly detection.

"The Flex site in Althofen is an exemplary case of our commitment to leveraging the convergence of innovation and sustainability for good," said Francois Barbier, President Global Operations and Components, Flex. "Joining this network of like-minded organizations will pave the way for positive change in the world of manufacturing. We look forward to sharing our experience with advanced technologies such as automation and digitization to create a better, and more efficient place for employees and to build products that improve the world."

"The Flex factory site in Althofen, Austria demonstrates how a manufacturing company and its workforce can leverage actionable innovation and purpose-driven sustainability to lead change," said Francisco Betti, Head of Shaping the Advanced Manufacturing and Production Platform, World Economic Forum. "Via its advanced manufacturing capabilities enabled by I4.0, Flex facilities around the world are providing greater efficiency, quality and sustainability for customers. As a Lighthouse member, Flex holds the power to lead by example and encourage its industry peers to re-envision how they too can leverage technology to shape the future."

Flex CEO Revathi Advaithi will participate as a guest expert/speaker on a virtual panel hosted by the World Economic Forum Global Lighthouse Network on September 29 at 5pm CET titled, "Advanced Fourth Industrial Revolution (4IR) Lighthouse – Reskilling the Workforce of the Future." Those interested can access the streaming content here.

About Flex
Flex (Reg. No. 199002645H) is the manufacturing partner of choice that helps a diverse customer base design and build products that improve the world. Through the collective strength of a global workforce across 30 countries and responsible, sustainable operations, Flex delivers technology innovation, supply chain, and manufacturing solutions to diverse industries and end markets.

Contacts

Media & Press
Mark Plungy
Director, Corporate Integrated Communications
(408) 442-1691
Mark.Plungy@flex.com

EMEA Media & Press
Conor Phillips
Director Communications EMEA
+353 86 385 1677
Conor.Phillips@flex.com

Investors & Analysts
David Rubin
Vice President, Investor Relations
(408) 577-4632
David.Rubin@flex.com

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SOURCE Flex

FAQ

What recent achievement did Flex announce on September 27, 2021?

Flex announced that its Althofen factory in Austria was admitted into the World Economic Forum's Global Lighthouse Network for its adoption of Industry 4.0 technologies.

How much did Flex's revenue increase due to the innovations at the Althofen site?

Flex's revenue increased by 50% as a result of innovations at the Althofen site.

What date is Flex's CEO participating in a panel hosted by the World Economic Forum?

Flex's CEO will participate in a virtual panel on September 29, 2021.

What technologies did Flex implement at its Althofen factory?

Flex implemented several technologies, including a virtual operator assistance system, real-time supply chain visibility, integrated materials management, and advanced analytics.