MIDLAND, MI – Dow Epoxy plans to raise prices in North America and other world regions as necessary, in response to the current climate of rising costs and shrinking margins.
“Profit margins have substantially eroded in the face of step-change hydrocarbon and energy and other manufacturing costs, and the situation shows no signs of improvement,” said Patrick Ho, business group president, Dow Epoxy & Specialty Chemicals. “We have absorbed our share of the increased costs, but we have no more room and must act immediately and definitively to ensure our business is healthy over the long-term.”
The business is currently meeting with customers to discuss market issues and upward price movement primarily driven by rising costs. Dow incurred new hydrocarbon and energy costs of greater than $2 billion in the first quarter of 2008, and an additional $665 million so far in the second, the company said.
FAIRFIELD, CT – LG Electronics and Haier Group have been cited as potential buyers of General Electric’s appliances unit, according to GE’s CEO Jeffrey Immelt, say published reports. However, the firms aren’t speaking on the record.
SEATTLE – The global semiconductor market is expected to grow 4.7% to $267.7 billion in 2008, up from 3.2% in 2007, according to the revised forecast of the World Semiconductor Trade Statistics.
ANAHEIM, CA – The military and defense work that has buoyed the North American PCB industry the past five years won’t last forever. But companies that focus on developing sectors – including energy – can take advantage of the inevitable landscape changes.
That was the consensus of an expert panel last week at the SMTA Los Angeles/Orange County chapter during its monthly meeting. The discussion, A Winning Strategy for Today’s Global Electronics Assembly Industry, focused mainly on the economy, Lean and lead-free.
MANCHESTER, NH – Finetech has opened a sales and support facility here, near the Manchester-Boston Regional Airport in the Airpark Business Center.
It is the second US facility for the company, which manufactures rework and bonding equipment.
“The new office is key to providing our US customers with localized sales and applications support,” said Neil O’Brien, sales director. “With this second US facility, we are expanding our ability to develop processes, run samples, exhibit equipment and create custom solutions.”
Finetech's main US demo facility is located in Tempe, AZ.
It is the second US facility for the company, which manufactures rework and bonding equipment.
“The new office is key to providing our US customers with localized sales and applications support,” said Neil O’Brien, sales director. “With this second US facility, we are expanding our ability to develop processes, run samples, exhibit equipment and create custom solutions.”
Finetech's main US demo facility is located in Tempe, AZ.
BRAINTREE, MA -- Ultra Electronics acquired Magneto Inductive Systems (MIS) and Harris Acoustic Products (HAP) for a combined $29 million in cash plus certain additional fees based on profitability and growth over the next four years.
The HAP acquisition is pending US regulatory approval.
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