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TORONTO – Adeptron Technologies will provide $15 million a year in electronics manufacturing services to an undisclosed OEM, the EMS firm said today.

The deal has "the potential to increase significantly," Adeptron said, because of sales growth of the product lines and from possible additional manufacturing support services for other current and future products.

Adeptron said the Canada-based OEM designs a "top-selling range of proprietary technology products that are marketed worldwide." The company indicated the product is used in office and educational environments.

Full ramp of manufacturing is expected to take place during the first quarter 2009.

Adeptron has annual sales of $250 million, including revenues generated by a partner in China.

GLENVIEW, IL – Illinois Tool Works reported third-quarter net income slipped 7.5% even on an 11% jump in revenues, the latter spurred by acquisitions and favorable currency translations. Base revenues fell 0.8% on lower volumes partially offset by higher raw material price recovery.

WASHINGTON, DC – Big industry production fell lower in September than it had since late 1974, largely as a result of hurricanes Gustav and Ike.

The Federal Reserve reported production at US factories, mines and utilities plunged 2.8% last month, in addition to a 1% drop in August.

The Fed estimated hurricane-related disruptions accounted for about 2.25 points of the total drop. In addition, a strike affecting the commercial aircraft industry also was a factor, accounting for around 50 basis points.

Economists originally forecast a September decline of 0.8%.