PATERSON, NJ – Guardian Capital Partners has purchased EMS provider PPI-Time Zero from Saugatuck Capital, owner of the firm since 2001.

PPI caters to the aerospace, medical and controls and instrumentation markets.

Fox Chase Bancorp provided financing for the transaction. No other financial terms of the deal were disclosed.

BILLINGSTAD, NORWAY – Flextronics International will shut down its electronics assembly plant here, affecting 88 employees, according to reports.

The move is a result of poor earnings and a substantial order cancellation.

The facility will be phased out during the next three months, and current production will move to other locations.

SHANGHAI -- Hon Hai Precision Industry (Foxconn) will build two industrial parks in Liaoning Province, in Northeast China.

EL SEGUNDO, CA -- The global outsourced manufacturing industry sits at a crossroads heading into 2011, according to research firm iSuppli.