News
SAN JOSE, Oct. 20 — Cadence Design Systems announced revenue for its third quarter was $302 million, up from $269 million last year.
On a GAAP basis, Cadence realized net income of $20 million, compared to a net loss of $14 million, last year.
Non-GAAP earnings were $52 million, versus $34 million last year.
LONDON, Oct. 7 -- Cookson Group plc today promoted Steve Corbett to chief executive of its Electronics division, replacing Ray Sharpe, who left the company last summer. The company also announced a shakeup in its laminates division.
Corbett was chief executive of Enthone, Cookson's successful chemistries division. He reports to Nick Salmon, chief executive of Cookson Group.
Corbett will oversee Enthone (the most profitable of the Cookson Electronics' business sectors), the Assembly Materials divisional head office and R&D.
Cookson's laminates group, known familiarly as Polyclad Technologies, will continue to report to Salmon. Polyclad is in the midst of a restructuring program, Cookson said.
Corbett joined Cookson Electronics in 1990 and has held a number of senior positions within the Assembly Materials and Chemistry businesses. He has been Chief Executive of Enthone since 2002.
Polyclad, meanwhile, continues to recover from the effects of the global downturn but has returned to profitability, according to Cookson. The division will continue to report to Salmon for the near term.
Joe Santolucito, chief executive of Polyclad, is leaving the company. Cookson named Rick Richesin, Polyclad's COO, as his successor. Richesin joined Polyclad in 1985 and spent six years as managing director of Polyclad Asia in China and Hong Kong.
In a statement, Nick Salmon said Corbett's "broad ranging experience of our markets and businesses, including his firsthand knowledge of Asia-Pacific, will be invaluable in driving the division forward."
HONG KONG, Oct. 12 -- Kingboard Chemical Holdings Ltd. plans to seek a majority stake in Elec & Eltek International Holdings, Dow Jones reported today.
Kingboard, which makes PCBs and laminates, currently owns 27.7% of Elec & Eltek International Holdings. If it succeeds in gaining a majority share in the company, Kingboard will then offer to buy the firm's Singapore-listed Elec & Eltek International Co. Ltd.
Elec & Eltek currently provides boards to Intel and IBM.
Kingboard said the deal will enhance the economies of scale of its PCB as the two companies' business and customers are complementary, Dow Jones reported.
