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PRAGUE – The global semiconductor market is expected to grow 3.8% on an annualized basis to $257.2 billion in 2007, according to the autumn forecast of the World Semiconductor Trade Statistics.

ELKHART, IN – CTS Corp. announced plans to realign certain manufacturing operations and eliminate approximately 103 net positions during the fourth quarter.

The realignment is intended for inclusion of manufacturing support functions at locations serving more than one business, the company says. In addition, certain production lines are slated for transfer.

These actions will result in a pre-tax restructuring charge and related costs of approximately $3 to $3.5 million, with the majority representing severance-related expense, reports CTS.

Approximately $2.8 million of the total expected cost is anticipated to be taken in the fourth quarter, with the remainder to be recorded in the first quarter of 2008, CTS says.

Breakeven on the realignment is expected in about one year, with annualized pre-tax savings projected to approximate the cost of the actions.

YAVNE, ISRAEL – Valor Computerized Systems announced year-to-date revenues of $31.4 million, an increase of 17.5% year-over-year.

Net profit year-to-date was $2.2 million, a decrease of 9% year-over-year.

Third-quarter revenues reached $10.6 million, an increase of 15.2% compared to the same quarter in 2006.

CFO Dan Hoz said, “Business conditions in Q3 were in line with our expectations. We witnessed a strong positive cash flow, resulting from a robust collection of account receivables ... ”

President and CEO Ofer Shofman said, “ … We signed an OEM partnership agreement with Universal Instruments Corp. … We are already working to deliver similar agreements over the next quarters.

“We have recently signed a distribution agreement with one of the largest EDA solution distributors in Europe … “ he added.