Bose Transfers Ownership of Mexico, Malaysia Audio Product Plants to Flex

Bose agreed to transfer ownership of its audio plants in San Luis, Mexico, and Penang, Malaysia, to Flex in return for gaining “greater access” to Flex's supply-chain solutions, the companies said in a Thursday announcement. Bose has sourced products from Flex for more than a year, and the agreement is an expansion of their "strategic partnership," they said. The San Luis plant opened in 1990 and the Penang plant in 2013, they said. Both produce headphones, wireless speakers, home theater systems and pro audio equipment products, and have a combined work force of 3,500 employees, most of whom Flex will keep on, they said. Financial terms weren't disclosed.