Arizona is getting another publicly traded company.
Benchmark Electronics Inc. (NYSE: BHE) is moving its headquarters from Texas to Arizona.
The integrated electronics manufacturing company already has a division in Tempe, but company officials haven’t determined exactly which city will be their new home.
That announcement won’t be made until May, when the company plans to move here, creating more than 500 jobs here over the next five years.
Paul Tufano, president and CEO of Benchmark Electronics, said the move to Arizona helps position the future growth of Benchmark by allowing the company to consolidate its corporate headquarters staff in a single location, expand engineering capability through a partnership with Arizona State University, position it closer to our growing aerospace and defense customers, and serve as a foundation to expand our existing precision technology business.
Benchmark designs and manufactures a variety of advanced technologies, supporting the aerospace & defense, medical, industrial, telecommunications and computing industries. Its precision technology facility in Tempe specializes in manufacturing equipment for the semiconductor, aerospace and medical sectors.
The company’s stock closed at $30.95 today, closer to its 52-week high of $33.45 than its low of $18.54. It will announce first quarter revenue April 19.