SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 10-K
ANNUAL REPORT PURSUANT TO SECTION 13 OR 15 (d) OF
THE SECURITIES EXCHANGE ACT OF 1934
For the fiscal year ended June 30, 1999 Commission File Number 0-7491
MOLEX INCORPORATED
(Exact name of registrant as specified in its charter)
Delaware 36-2369491
(State or other jurisdiction of (I.R.S. Employer
incorporation or organization) Identification No.)
2222 Wellington Court, Lisle, Illinois 60532
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code (630) 969-4550
Securities registered pursuant to Section 12 (b) of the Act: None
Securities registered pursuant to Section 12 (g) of the Act:
Common Stock, par value $0.05
Class A Common Stock, par value, $0.05
Indicate by check mark whether the registrant (1) has filed all reports
required to be filed by Section 13 or 15 (d) of the Securities Exchange Act of
1934 during the preceding 12 months (or for such shorter period that the
registrant was required to file such reports), and (2) has been subject to such
filing requirements for the past 90 days. Yes X No _____
On August 27, 1999, the following numbers of shares of the Company's common
stock were outstanding:
Common Stock 78,506,562
Class A Common Stock 78,302,173
Class B Common Stock 94,255
The aggregate market value of the voting shares (based on the closing price of
these shares on the National Association of Securities Dealers Automated
Quotation System on such date) held by non-affiliates was approximately
$1.3 billion.
DOCUMENTS INCORPORATED BY REFERENCE
Portions of the Annual Report to Shareholders for the year ended June 30, 1999,
are incorporated by reference into Parts I, II and IV of this report.
Portions of the Proxy Statement for the annual meeting of Stockholders, to be
held on October 22, 1999 are incorporated by reference into Part III of this
report.
Index to Exhibits listed on Pages 20 through 21.
1
TABLE OF CONTENTS
Part I Page
Item 1. Business 3
Item 2. Properties 8
Item 3. Legal Proceedings 9
Item 4. Submission of Matters to a Vote of Security Holders 9
Part II
Item 5. Market for the Registrant's Common Equity and 9
Related Stockholder Matters
Item 6. Selected Financial Data 10
Item 7. Management's Discussion and Analysis of Financial 10
Condition and Results of Operations
Item 7a. Quantitative and Qualitative Disclosures About 10
Market Risk
Item 8. Financial Statements and Supplementary Data 10
Item 9. Changes in and Disagreements with Accountants on 10
Accounting and Financial Disclosure
Part III
Item 10. Directors and Executive Officers of the Registrant 11
Item 11. Executive Compensation 13
Item 12. Security Ownership of Certain Beneficial Owners 13
and Management.
Item 13. Certain Relationships and Related Transactions 13
Part IV
Item 14. Exhibits, Financial Statement Schedules, and Reports 14
on Form 8-K
Independent Auditors' Report on Schedule 16
Statements of Changes in Shares Outstanding 17
Schedule II - Valuation and Qualifying Accounts 18
Index to Exhibits 19
Signature Page 21
2
PART I
Item 1 - Business
General Development of the Business
Molex Incorporated originated from an enterprise established in 1938. It was
incorporated in 1972 in the state of Delaware. As used herein the term "Molex"
or "Company" includes Molex Incorporated and its United States and
international subsidiaries.
General Description of the Business
Molex is a leading manufacturer of electronic, electrical and fiber optic
interconnection products and systems; switches; value-added assemblies; and
application tooling. The Company operates 50 plants in 21 countries and
employs 14,700 people worldwide. In fiscal 1999, products manufactured and
sold outside the U.S. generated 66% of sales.
Molex serves original equipment manufacturers in industries that include
automotive, computer, computer peripheral, business equipment,
telecommunications, consumer products and premise wiring. The Company offers
more than 100,000 products to customers primarily through direct sales people
and authorized distributors. The worldwide market for electronic connectors,
cable assemblies and backplanes was estimated at $27.1 billion. With a 6.3%
market share, Molex is the second-largest connector manufacturer in the world
in what is a fragmented but highly competitive industry.
Molex conducts business in one industry segment: the manufacture and sale of
electrical components. The Company designs, manufactures, and distributes
electrical and electronic devices such as terminals, connectors, planer cables,
cable assemblies, interconnection systems, fiber optic interconnection systems,
backplanes and mechanical and electronic switches. Crimping machines and
terminal inserting equipment (known as "application tooling") are offered on a
lease or purchase basis to the Company's customers for the purpose of applying
the Company's components to the customers' products. Net revenue from
application tooling constitutes approximately 1% of the Company's net revenues.
Molex products are designed for use in a broad range of electrical and
electronic applications as set forth below:
3
Percentage of
Fiscal 1999
Market Net Revenue Products
Computer/business equipment/ 56% Computers, peripheral
telecommunications equipment, calculators,
copiers, pagers and
dictation equipment
Consumer Products 19% Televisions, stereo high
fidelity systems,
compact disc players,
video tape recorders,
camcorders,
electronic games,
microwave ovens,
refrigerators, freezers,
dishwashers, disposals
and air conditioners
Automotive 15% Automobiles, trucks,
recreational vehicles
and farm equipment
Other 10% Electronic medical
equipment, vending
machines, security
equipment and modular
office furniture and
premise wiring
The Company sells its products primarily to original equipment manufacturers
and their subcontractors and suppliers. The Company's customers include
various multinational companies, including Apple, AT&T, Canon, Compaq, Delco,
Ford, Hewlett Packard, IBM, JVC, Matsushita, Motorola, Philips, Sony, Thomson,
Toshiba, and Xerox, many of which Molex serves on a global basis. Net revenues
contributed by different industry groups fluctuate due to various factors
including model changes, new technology, introduction of new products and
composition of customers. No customer accounted for 10% or more of net
revenues in fiscal years 1999, 1998 or 1997. While its customers generally
make purchasing decisions on a decentralized basis, Molex believes that, due
to its financial strength and product development capabilities, it has and
will continue to benefit from the trend of many of its customers toward the
use of fewer vendors.
4
In the United States and Canada, the Company sells its products primarily
through direct sales engineers and industrial distributors. Internationally,
Molex sells primarily through its own sales organizations in Japan, Hong Kong,
Singapore, Taiwan, Republic of Korea, Malaysia, Thailand, China, Australia,
England, Italy, Ireland, France, Spain, Germany, the Netherlands, Switzerland,
Poland, Sweden, Norway, Denmark, South Africa, India, Canada, Mexico and
Brazil.
Outside of the United States and Canada, Molex also sells its products through
manufacturers' representative organizations, some of which act as distributors,
purchasing from the Company for resale. The manufacturers' representative
organizations are granted exclusive territories and are compensated on a
commission basis. These relationships are terminable by either party on short
notice. All sales orders received are subject to approval by the Company.
The Company promotes its products through leading trade magazines, direct
mailings, catalogs and other promotional literature. Molex is a frequent
participant in trade shows and also conducts educational seminars for its
customers and its manufacturers' representative organizations.
There was no significant change in the Company's suppliers, products, markets
or methods of distribution during the last fiscal year.
Molex generally seeks to locate manufacturing facilities to serve local
customers and currently has 50 manufacturing facilities in 21 countries on six
continents.
The principal raw materials and component parts Molex purchases for the
manufacture of its products include brass, copper, aluminum, steel, tin,
nickel, gold, silver, nylon and other molding materials, and nuts, bolts,
screws and rivets. Virtually all materials and components used in the
Company's products are available from several sources. Although the
availability of such materials has generally been adequate, no assurance can
be given that additional cost increases or material shortages or allocations
imposed by its suppliers in the future will not have a materially adverse
effect on the operations of the Company.
5
Competition
The business in which the Company is engaged is highly competitive. Most of
the Company's competitors offer products in some but not all of the industries
served by the Company. Molex believes that the ability to meet customer
delivery requirements and maintenance of product quality and reliability are
competitive factors that are as important as product pricing. Some of the
Company's competitors have been established longer and have substantially
larger manufacturing, sales, research and financial resources.
Patents/Trademarks
As of June 30, 1999, the Company owned 702 United States patents and had 273
patent applications on file with the United States Patent Office. The Company
also has 2,184 corresponding patents issued and 3,225 applied for in other
countries as of June 30, 1999. No assurance can be given that any patents will
be issued on pending or future applications. As the Company develops products
for new markets and uses, it normally seeks available patent protection. The
Company believes that its patents are of importance but does not consider
itself materially dependent upon any single patent or group of related patents.
Backlog
The backlog of unfilled orders at June 30, 1999 was approximately $243.4
million; this compares to $231.0 million at June 30, 1998. Substantially all
of these orders are scheduled for delivery within twelve months. The Company's
experience is that orders are normally delivered within ninety days from
acceptance.
Research and Development
Molex incurred total research and development costs of $105.9 million in 1999,
$93.9 million in 1998, and $89.5 million in 1997. The Company incurred costs
relating to obtaining patents of $5.2 million in 1999, $5.4 million in 1998,
and $5.6 million in 1997 which are included in total research and development
costs. The Company's policy is to charge these costs to operations as incurred.
The Company introduced many new products during the year; however, in the
aggregate, these products did not require a material investment of assets.
6
Compliance
The Company believes it is in full compliance with federal, state and local
regulations pertaining to environmental protection. The Company does not
anticipate that the costs of compliance with such regulations will have a
material effect on its capital expenditures, earnings or competitive position.
Employees
As of June 30, 1999, the Company employed 14,700 people worldwide. The Company
believes its relations with its employees are favorable.
International Operations
The Company is engaged in material operations in foreign countries. Net
revenue derived from international operations for the fiscal year ended
June 30, 1999 was approximately 66% of consolidated net revenue.
The Company believes the international net revenue and earnings will continue
to be significant. The analysis of the Company's operations by geographical
area appears in footnote 9 on page 49 of the 1999 Annual Report to Shareholders
and is incorporated herein by reference.
7
Item 2 - Properties
Molex owns and leases manufacturing, warehousing and office space in several
locations around the world. The total square footage of these facilities is
presented below:
Owned Leased Total
3,303,151 1,912,428 5,215,579
The leases are of varying terms with expirations ranging from fiscal 1999
through fiscal 2025. The leases in aggregate are not considered material to
the financial position of the Company.
The Company's buildings, machinery and equipment have been well maintained and
are adequate for its current needs.
A listing of principal manufacturing facilities is presented below:
Australia Ireland Republic of Korea
Melton, Victoria Millstreet Town Ansan City (2)
Shannon
Brazil Singapore
Manaus Italy Jurong Town
Sao Paulo Padova
South Africa
Canada Japan Midrand
Scarborough, Ontario Kagoshima
Okayama Taiwan
China (P.R.C.) Shioya Taipei
Dongguan Shizuoka
Shanghai Yamato Thailand
Bangkok
England Malaysia
Southhampton Perai, Penang United States
Auburn Hills, Michigan (2)
Mexico Maumelle, Arkansas (2)
France Guadalajara Manchester, New Hampshire
Chateau Gontier Magdalena Orange, California
Nogales (2) Pinellas Park, Florida
Germany St. Petersburg, Florida
Biberach Poland Downers Grove, Illinois
Ettlingen Starogard Lisle, Illinois
Naperville, Illinois (2)
India Puerto Rico Mooresville, Indiana
Bangalore Ponce Lincoln, Nebraska (3)
Gandhinagar
8
Item 3 - Legal Proceedings
None deemed material to the Company's financial position or consolidated
results of operations.
Item 4 - Submission of Matters to a Vote of Security Holders
None.
PART II
Item 5 - Market for the Registrant's Common Equity and Related Stockholder
Matters
Molex is traded on the National Market System of the NASDAQ in the
United States and on the London Stock Exchange. The information set
forth under the caption "Fiscal 1999, 1998, and 1997 by Quarter
(Unaudited)" on page 50 of the 1999 Annual Report to Shareholders is
incorporated herein by reference.
The following table presents quarterly dividends per common share for
the last two fiscal years. The fiscal 1998 dividends per share have
been restated for the 25% stock dividend issued in November, 1997.
Class A
Common Stock Common Stock
Fiscal 1999 Fiscal 1998 Fiscal 1999 Fiscal 1998
Quarter Ended -
September 30, 0.0150 0.0120 0.0150 0.0120
December 31, 0.0150 0.0150 0.0150 0.0150
March 31, 0.0150 0.0150 0.0150 0.0150
June 30, 0.0150 0.0150 0.0150 0.0150
Total 0.0600 0.0570 0.0600 0.0570
Cash dividends on Common Shares have been paid every year since 1977.
A description of the Company's Common Stock appears in footnote 3 on page 44 of
the 1999 Annual Report to Shareholders and is incorporated herein by reference.
On June 16, 1999, The Company acquired Cardell Corporation, an automotive
terminal and connector manufacturer. In connection with this acquisition,
the former shareholders of Cardell received 2.3 million shares of Molex
Common Stock (MOLX), approximate market value $69.4 million, which were exempt
from registration under Section 4(2) of the Securities Act of 1933.
9
Item 6 - Selected Financial Data
The information set forth under the caption "Ten Year Financial Highlight
Summary" (only the five years in the period ended June 30, 1999) on page 31 of
the 1999 Annual Report to Shareholders is incorporated herein by reference.
Item 7 - Management's Discussion and Analysis of Financial Condition and
Results of Operations
The information set forth under the caption "Management's Discussion of
Financial Condition and Results of Operations" on pages 32 through 36 of the
1999 Annual Report to Shareholders is incorporated herein by reference.
Item 7A - Quantitative and Qualitative Disclosures About Market Risk
The information set forth under the caption "Quantitative and Qualitative
Disclosures About Market Risk" on page 36 of the 1999 Annual Report to
Shareholders is incorporated herein by reference.
Item 8 - Financial Statements and Supplementary Data
The following consolidated financial statements of the Company set forth on
pages 38 through 49 of the 1999 Annual Report to Shareholders and the
independent auditors' report set forth on page 37 of the 1999 Annual Report
to Shareholders are incorporated herein by reference:
Independent Auditors' Report
Consolidated Balance Sheets - June 30, 1999 and 1998
Consolidated Statements of Income for the years ended June 30, 1999, 1998
and 1997
Consolidated Statements of Shareholders' Equity for the years ended June 30,
1999, 1998 and 1997
Consolidated Statements of Cash Flows for the years ended June 30, 1999, 1998
and 1997
Notes to Consolidated Financial Statements
The supplementary data regarding quarterly results of operations, set forth
under the caption "Fiscal 1999, 1998, and 1997 by Quarter (Unaudited)" on page
50 of the 1999 Annual Report to Shareholders, is incorporated herein by
reference.
The statement of changes in shares outstanding appears on Page 19 of this Form
10-K.
Item 9 - Changes in and Disagreements with Accountants on Accounting and
Financial Disclosure
None.
10
PART III
Item 10 - Directors and Executive Officers of the Registrant
The information under the caption "Election of Directors" in the Company's
Proxy Statement for the annual meeting of Stockholders to be held on October
22, 1999 (the "Company's 1999 Proxy Statement") is incorporated herein by
reference. The information called for by Item 401 of Regulation S-K relating
to the Executive Officers is furnished below.
Executive Officers of the Registrant
The following information relates to the executive officers of the Registrant
who serve at the discretion of the Board of Directors and are customarily
elected for one-year terms at the Regular Meeting of the Board of Directors
held immediately following the Annual Stockholders' Meeting. All of the
executive officers named hold positions as officers and/or directors of one or
more subsidiaries of the Registrant. For purposes of this disclosure, only
the principal positions are set forth.
Year
Employed
Positions Held with Registrant by
Name During the Last Five Years (a) Age Registrant
Frederick A. Krehbiel(b) Co-Chairman and Co-Chief 58 1965(c)
Executive Officer (1999-);
Chairman (1993-1999) and Chief
Executive Officer (1988-1999).
John H. Krehbiel, Jr.(b) Co-Chairman and Co-Chief 62 1959(c)
Executive Officer (1999-);
President (1975-1999) and Chief
Operating Officer (1996-1999).
J. Joseph King President and Chief Operating 55 1975
Officer (1999-); Executive
Vice President (1996-1999); Group
Vice President-International
Operations (1988-1996).
Martin P. Slark Executive Vice President (1999-); 44 1976
Corporate Vice President
(1990-1999) and President,
Americas (1996-1999);
President, U.S. (1994-1996).
Raymond C. Wieser Senior Vice President (1999-); 60 1965(c)
Senior Vice President, Americas
(1996-1999); Corporate Vice
President and President,
Commercial Division-U.S.
Operations (1994-1996).
11
Year
Employed
Positions Held with Registrant by
Name During the Last Five Years (a) Age Registrant
Robert B. Mahoney Corporate Vice President, 46 1995
Treasurer and Chief Financial
Officer (1996-); Vice President
(1994-1995) and Corporate
Controller (1990-1995) of
National Semiconductor Corporation.
Ronald L. Schubel Corporate Vice President (1982-) 56 1981
and President, Americas (1999-);
President, Far East South
(1994-1998); President, Commercial
Division-U.S. Operations
(1982-1994).
Werner W. Fichtner Corporate Vice President 56 1981
(1987-) and President,
Europe (1981-).
Goro Tokuyama Corporate Vice President 65 1985
(1990-)and President,
Far East North (1988-), and
President of Molex Japan Co.,
Ltd. (1985-).
James E. Fleischhacker Corporate Vice President 55 1984
(1994-) and President,
Far East South (1998-); President,
DataComm Division-Americas
(1989-1998).
Kathi M. Regas Corporate Vice President (1994-); 43 1985
Director, Human Resources
U.S. Operations (1989-1995).
Louis A. Hecht Corporate Secretary (1977-) and 55 1974
General Counsel (1975-).
__________________________________________________________________________
(a) All positions are with Registrant unless otherwise stated.
(b) John H. Krehbiel, Jr. and Frederick A. Krehbiel (the "Krehbiel Family")
are brothers. The members of the Krehbiel Family may be considered to be
"control persons" of the Registrant. The other officers listed above have no
relationship, family or otherwise, to the Krehbiel family, Registrant or each
other.
(c) Includes period employed by Registrant's predecessor.
12
Item 11 - Executive Compensation
The information under the caption "Executive Compensation" in the Company's
1999 Proxy Statement is incorporated herein by reference.
Item 12 - Security Ownership of Certain Beneficial Owners and
Management
The information under the caption "Security Ownership of Management and of
Certain Beneficial Owners" in the Company's 1999 Proxy Statement is
incorporated herein by reference.
Item 13 - Certain Relationships and Related Transactions
The information under the captions "Election of Directors," "Indebtedness of
Management" and "Security Ownership of Management and of Certain Beneficial
Owners" in the Company's 1999 Proxy Statement is herein incorporated by
reference.
13
PART IV
Item 14 - Exhibits, Financial Statement Schedules, and Reports on
Form 8-K
(a) 1. Financial Statements
The following consolidated financial statements contained in the Company's
1999 Annual Report to Shareholders have been incorporated by reference in
Item 8.
Page(s) in
Annual Report
Item to Shareholders
Independent Auditors' Report 37
Consolidated Balance Sheets - June 30, 1999
and 1998 38-39
Consolidated Statements of Income - for
the years ended June 30, 1999, 1998 and 1997 40
Consolidated Statements of Shareholders' Equity -
for the years ended June 30, 1999, 1998 and 1997 41
Consolidated Statements of Cash Flows - for the
years ended June 30, 1999, 1998 and 1997 42
Notes to Consolidated Financial Statements 43-49
Fiscal 1999, 1998 and 1997 by Quarter (Unaudited) 50
(a) 2. Financial Statement Schedule
Page in the
Form 10-K
Independent Auditors' Report 16
Statement of Changes in Shares Outstanding
for the years ended June 30, 1999, 1998 and 1997 17
Schedule II - Valuation and Qualifying Accounts 18
14
All other schedules are omitted because they are inapplicable, not required
under the instructions, or the information is included in the consolidated
financial statements or notes thereto.
Separate financial statements for the Company's unconsolidated affiliated
companies, accounted for by the equity method, have been omitted because they
do not constitute significant subsidiaries.
(a) 3. Exhibits
The exhibits listed on the accompanying Index to Exhibits are filed or
incorporated herein as part of this Report.
(b) Reports on Form 8-K
Molex filed no reports on Form 8-K with the Securities and Exchange Commission
during the last quarter of the fiscal year ended June 30, 1999.
15
INDEPENDENT AUDITORS' REPORT
To the Board of Directors and
Shareholders of Molex Incorporated
Lisle, Illinois
We have audited the consolidated financial statements of Molex Incorporated
and its subsidiaries as of June 30, 1999 and 1998, and for each of the three
years in the period ended June 30, 1999, and have issued our report thereon
dated July 28, 1999; such financial statements and report are included in your
1999 Annual Report to Shareholders and are incorporated herein by reference.
Our audits also included the statements of changes in shares outstanding and
the financial statement schedule of Molex Incorporated and its subsdidiaries,
listed in Item 14(a)2. These statements of changes in shares outstanding and
financial statement schedule are the responsibility of the Company's
management. Our responsibility is to express an opinion based on our audits.
In our opinion, such statements of changes in shares outstanding and financial
statement schedule, when considered in relation to the basic financial
statements taken as a whole, present fairly in all material respects the
information set forth therein.
/S/DELOITTE & TOUCHE LLP
Chicago, Illinois
July 28, 1999
16
Molex Incorporated
Statements of Changes in Shares Outstanding
For the Years Ended June 30, 1999, 1998, and 1997
Class A Class B
Common Common Common Treasury
Stock Stock Stock Stock
___________ ___________ __________ ___________
Shares outstanding at
June 30, 1996 52,378,821 52,539,939 94,255 4,197,563
Exercise of stock options 448,849 39,447
Purchase of treasury stock 1,026,250
Purchase of business (59,477)
Stock splits effected in the form
of dividends 13,214,185 13,130,067 1,164,575
Other 11,856 (11,856) (40,933)
___________ ___________ __________ ___________
Shares outstanding at
June 30, 1997 66,053,711 65,658,150 94,255 6,327,425
Exercise of stock options 588,395 24,744
Purchase of treasury stock 1,540,000
Disposition of treasury stock 26,131 (59,814)
Stock splits effected in the form
of dividends 16,593,237 16,414,537 1,699,612
___________ ___________ __________ ___________
Shares outstanding at
June 30, 1998 83,261,474 82,072,687 94,255 9,531,967
Exercise of stock options 584,849 76,402
Purchase of treasury stock 1,707,323
Disposition of treasury stock (76,424)
Purchase of business 2,261,320
Issuance of stock bonus 41,118
Other (15,795)
___________ ___________ __________ ___________
Shares outstanding at
June 30, 1999 86,132,966 82,072,687 94,255 11,239,268
=========== =========== ========== ==========
17
Molex Incorporated
Schedule II - Valuation and Qualifying Accounts
For the Years Ended June 30, 1999, 1998, and 1997
Allowance for Losses Balance at Balance
and Adjustments on Beginning Charged to Accounts Translation at end
Receivables: of Period Income Written Off Adjustments of Period
_________________ _________ _________ _________ __________ ________
1999 $17,114
1998 $14,586 $3,707 ($644) ($535) $17,114
1997 $12,566 $3,019 ($488) ($511) $14,586
18
MOLEX INCORPORATED EXHIBIT INDEX
Exhibit
Number Exhibit
3 3.1 Certificate of Incorporation
(as amended)(incorporated by reference to 1998
Form 10-K, Exhibit 3.1)
3.2 By-Laws (as amended)
4 Instruments defining rights of
security holders including
indentures. See Exhibit 3.1
10 Material Contracts
10.1 The Molex Deferred Compensation
Plan (incorporated by reference
to 1984 Form 10-K, Exhibit 10.6)
10.2 The 1990 Molex Incorporated
Executive Stock Bonus Plan
(as amended)(incorporated by reference
to 1998 Form 10-K, Exhibit 10.2)
10.3 The 1990 Molex Incorporated
Stock Option Plan (as amended)
(incorporated by reference
to 1998 Form 10-K, Exhibit 10.3)
10.4 The 1991 Molex Incorporated Incentive
Stock Option Plan (as amended)
10.5 The 1998 Molex Incorporated
Stock Option Plan
13 Molex Incorporated Annual report to
Shareholders for the year ended
June 30, 1999. (Such Report, except
to the extent incorporated herein by
reference, is being furnished for the
information of the Securities and
Exchange Commission only and is not
to be deemed filed as a part of this
annual report on Form 10-K)
19
Exhibit
Number Exhibit
22 Subsidiaries of registrant
24 Independent Auditors' Consent
27 Financial Data Schedule
(All other exhibits are either inapplicable or not required)
20
S I G N A T U R E S
Pursuant to the requirements of Section 13 or 15 (d) of the Securities Exchange
Act of 1934, the Company has duly caused this Annual Report to be signed on its
behalf by the undersigned, there unto duly authorized.
MOLEX INCORPORATED
-------------------------
(Company)
September 22, 1999 /S/ ROBERT B. MAHONEY
By: Robert B. Mahoney
Corporate Vice President, Treasurer
and Chief Financial Officer
Pursuant to the requirements of the Securities Exchange Act of 1934, this
report has been signed below by the following persons on behalf of the
registrant and in the capacities and on the dates indicated.
September 22, 1999 /S/ F. A. KREHBIEL
F. A. Krehbiel
Co-Chairman of the Board and
Co-Chief Executive Officer
September 22, 1999 /S/ J. H. KREHBIEL, JR.
J. H. Krehbiel, Jr.
Co-Chairman of the Board and
Co-Chief Executive Officer
September 22, 1999 /S/ J. JOSEPH KING
J. Joseph King
President and Chief Operating Officer
Director
September 22, 1999 /S/ ROBERT B. MAHONEY
Robert B. Mahoney
Corporate Vice President, Treasurer
and Chief Financial Officer
September 22, 1999 /S/ F. L. KREHBIEL
F. L. Krehbiel
Director
September 22, 1999 /S/ MICHAEL J. BIRCK
Michael J. Birck
Director
September 22, 1999 /S/ DOUGLAS K. CARNAHAN
Douglas K. Carnahan
Director
September 22, 1999 /S/ EDGAR D. JANNOTTA
Edgar D. Jannotta
Director
September 22, 1999 /S/ DONALD G. LUBIN
Donald G. Lubin
Director
September 22, 1999 /S/ MASAHISA NAITOH
Masahisa Naitoh
Director
September 22, 1999 /S/ DR. ROBERT J. POTTER
Dr. Robert J. Potter
Director
21