MONTREAL -- Nortel Networks today said it would cut about 1,300 jobs between now and 2009 after reporting a $3.41 billion loss in the September quarter, including a noncash charge of $3.21 billion for goodwill
and deferred tax assets.
Among those losing their jobs are chief technology officer John Roese, global services president Dietmar Wendt and executive vice president global sales Bill Nelson.
The company is instituting a series of wage and spending freezes as well in an effort to preserve cash.
SON, THE NETHERLANDS – Neways Electronics, a top 50 global EMS provider, signed a letter of intent to acquire parts of Bosch Security Systems' operations in Breda, the Netherlands, for an undisclosed amount.
The transaction is expected to be directly and immediately accretive to earnings.
The deal includes 40 full-time workers at the Bosch plant. The acquisition also
includes a limited number of fixed assets and inventories.
The
move substantial expanded Neways’ activities
in communication and data security.
Neways has 2,250 employees and reported sales of 281 million euros in 2007.
MANKATO, MN -- Winland Electronics reported third-quarter net sales of $7 million, down 29% from 2007. Net income was $118,000, down 76%. Sales were affected by a drop in demand from two of the company’s
three largest customers and the phaseout of two
other programs.
COLORADO SPRINGS, CO — Fine Line Stencil, a leading manufacturer of stencil products, has opened a stencil manufacturing facility in Memphis, the company said today.
The site will meet demand for quickturn stencils, and gives the company the ability to ship stencils up to midnight Central time.
“The quickturn demands on the contract manufacturing industry are increasing rapidly and our Memphis facility gives us the ability to accept and ship stencil orders much later in the day,” said Robert Dervaes, vice president of technology and engineering, in a press release.