SAN JOSE – Flex today announced a definitive agreement to acquire AGM Automotive, a supplier of automotive interior components and systems, for an undisclosed amount.

The acquisition is expected to close in the June quarter, and is subject to customary closing conditions, including regulatory approvals. Flex said the deal will be immediately accretive to EPS and generate positive free cash flow. Flex intends to fund the acquisition from currently available resources.

Troy, MI-based AGM designs overhead console systems, interior lighting, electronic components and textile flooring solutions. It also has facilities in the US, Mexico, Costa Rica, Austria and China.

“AGM is a highly respected, award-winning provider of automotive interior components and systems,” said Chris Obey, president of Automotive at Flex. “This strategic acquisition will complement and expand our automotive offerings, particularly in lighting, and will further strengthen certain key strategic customer relationships. The addition of AGM will enhance our ability to provide customers with more complete solutions for innovative interior lighting systems, from plastics through electronics, and drive greater growth of our dollar content per vehicle.”

“AGM is excited to be joining Flex,” said Robert M. Blinstrub, president and CEO of AGM. “With Flex’s solid automotive business, broad global footprint and strong culture of forwardlooking technological innovation, our integrated offering will increase our reputation as a provider of world-class automotive solutions to our customers.”

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