News
TORONTO -- Celestica became the latest EMS firm to announce a debt reduction plan, announcing last night plans to purchase up to $150 million worth of its 7.875% senior subordinated notes due in 2011. Under the modified Dutch tender offer, Celestica will purchase notes in a range $960 to $1,010 per every $1,000 in principal, with the offer expiring in a month.
Like many of its competitors, Celestica has large amounts of cash on hand and is using some to lower its debt and perhaps boost its earnings. At the end of December, the company had $1.2 billion in cash on its balance sheet, and was in a net cash position of $468 million.
"We believe Celestica is looking for a way to return value to shareholders through repurchasing its near-term debt," Deustche Bank analyst Sherri Scribner wrote in a research note. She estimates Celestica's buyback will reduce debt levels and lower its interest expense by roughly $10.5 million a year.
Like many of its competitors, Celestica has large amounts of cash on hand and is using some to lower its debt and perhaps boost its earnings. At the end of December, the company had $1.2 billion in cash on its balance sheet, and was in a net cash position of $468 million.
"We believe Celestica is looking for a way to return value to shareholders through repurchasing its near-term debt," Deustche Bank analyst Sherri Scribner wrote in a research note. She estimates Celestica's buyback will reduce debt levels and lower its interest expense by roughly $10.5 million a year.
SACRAMENTO, CA -- The state of California sent a stern message to semiconductor chip manufacturers yesterday by enacting mandatory rules controlling greenhouse gases.
SMYRNA, GA -- More than 2,000 PCB
designers, fabricators and assemblers registered for Virtual PCB (www.virtual-pcb.com), the industry's only
virtual trade show and conference, which took place this week.
The live event was held Feb. 24-25, and the show will remain open in an archive mode for two months.
Exhibitors include several leading suppliers of placement, soldering and test equipment, materials, software, and bare boards. The technical conference includes Webinars on design, simulation, soldering, lead-free assembly, and environmental issues from well-known industry experts.
New this year were technical chats featuring experts on subjects ranging from CAD and MCAD software to laminates, and from assembly process defect solutions to the potential of alternative energy platforms for SMT manufacturers.
“We found the technical conference to be a huge draw, with some Webinars attracting several hundred attendees, which simple logistics would prevent at the industry’s ‘live’ events,” said Mike Buetow, editor in chief of Circuits Assembly, which cosponsored Virtual PCB.
A fully interactive, Web-based event, Virtual PCB incorporates all the critical features of a live event while allowing PCB design, fabrication and assembly equipment and materials buyers and sellers to interact online.
For more information about Virtual PCB, visit www.virtual-pcb.com or contact Alyson Skarbek, show manager, at 678-589-8865 or askarbek@upmediagroup.com.
Virtual PCB is produced by UP Media Group, the industry’s leading publisher of technical magazines.
The live event was held Feb. 24-25, and the show will remain open in an archive mode for two months.
Exhibitors include several leading suppliers of placement, soldering and test equipment, materials, software, and bare boards. The technical conference includes Webinars on design, simulation, soldering, lead-free assembly, and environmental issues from well-known industry experts.
New this year were technical chats featuring experts on subjects ranging from CAD and MCAD software to laminates, and from assembly process defect solutions to the potential of alternative energy platforms for SMT manufacturers.
“We found the technical conference to be a huge draw, with some Webinars attracting several hundred attendees, which simple logistics would prevent at the industry’s ‘live’ events,” said Mike Buetow, editor in chief of Circuits Assembly, which cosponsored Virtual PCB.
A fully interactive, Web-based event, Virtual PCB incorporates all the critical features of a live event while allowing PCB design, fabrication and assembly equipment and materials buyers and sellers to interact online.
For more information about Virtual PCB, visit www.virtual-pcb.com or contact Alyson Skarbek, show manager, at 678-589-8865 or askarbek@upmediagroup.com.
Virtual PCB is produced by UP Media Group, the industry’s leading publisher of technical magazines.
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