News
HELSINKI, FINLAND – Industry reports indicate Elcoteq is in final talks to acquire Taiwan's Arima Communications, which manufactures mobile handsets for Sony and LG Electronics, among others.
Industry sources claim an announcement can be expected once terms are finalized. However, Arima has denied a possible acquisition.
Stephen Hung, spokesman for Arima, said no talks were going on between the two companies, and Elcoteq spokeswoman Minna Aila reportedly declined comment, citing company policy not to comment on market rumors.
EMS provider Elcoteq, which builds for Nokia, among others, is reportedly interested in increasing its ODM capabilities. Arima has an R&D staff in its Taiwan and China locations.
Industry sources claim an announcement can be expected once terms are finalized. However, Arima has denied a possible acquisition.
Stephen Hung, spokesman for Arima, said no talks were going on between the two companies, and Elcoteq spokeswoman Minna Aila reportedly declined comment, citing company policy not to comment on market rumors.
EMS provider Elcoteq, which builds for Nokia, among others, is reportedly interested in increasing its ODM capabilities. Arima has an R&D staff in its Taiwan and China locations.
SALT LAKE CITY – CirTran Corp. has issued a promissory note for $315,000, the EMS company's second in the past month.
Under the terms of the April 7 note, the company received proceeds of $300,000 from Albert Hagar, to whom it will repay an aggregate of $315,000 within 30 days after demand is made for payment. CirTran president Iehab Hawatmeh gave a personal guarantee for the note.
It is the second time in a month the company has issued a $315,000 note. On March 31, CirTran issued five promissory notes for an aggregate indebtedness of $315,000 to five individuals.
For its 2007 fiscal year, CirTran reported a net loss of $7.2 million on revenues of $12.4 million.
TAIPEI – Foxconn Electronics reported first-quarter net profits rose 2.9% year-over-year to NT$16.07 billion (US$528.6 million), despite sales growth of more than 20%.
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