News
PEMBROKE, BERMUDA – Tyco International Ltd. today announced it will establish nearly $3 billion in a cash fund for payment of plaintiffs’ claims in the consolidated securities class action cases, involving former executives, including ex-CEO Dennis Kozlowksi. The settlement is subject to court approval.
SPOKANE, WA – EMS provider Key Tronic Corporation announced that it completed the sale of its Las Cruces, New Mexico facility on May 11 with Adevco Corporation.
The total sale price was approximately $4.3 million.
Key Tronic received approximately $2.8 million in cash and a $1.5 million note. The note is for excess land covered by a flood zone designation.
SHANGHAI – Semiconductor Manufacturing International Corp. of China has signed letters of intent to purchase close to $2 billion worth of semiconductor manufacturing equipment from U.S. vendors over three-year periods.
SMIC participated in the signing ceremony of contracts and agreements between U.S. and China companies at the U.S-China Hi-Tech Cooperation Forum held in San Francisco.
The company signed six LOIs outlining plans to purchase equipment from U.S. vendors, including Applied Materials, Axcelis, KLA-Tencor, Lam Research, Novellus and Varian Semiconductor.
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