TAIPEI – The board of Hon Hai Precision Industry, the parent company of Foxconn Technologies, approved a proposal to raise $363 million by issuing unsecured corporate bonds in an effort to build cash.
 
A firm spokesperson said the company would use the money to increase its operating capital and cash turnover ratio.
 
In terms of volume, this is the firm’s largest capital raising case in two years. Hon Hai put up $545 million then by issuing domestic corporate bonds.
 
Hon Hai is the world’s largest EMS/ODM company, with annual revenues of more than $60 billion. However, through September, the firm had about $306 million in cash, down from the $351 million at the end of June.
 

MUNICH -- German electronic components and systems sales are expected to fall 1% in 2009, according to a forecast issued this week the ZVEI trade group.

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MADISON, AL — STI Electronics has been recognized as one of the 5000 fastest growing privately held companies by Inc. Magazine.

The EMS company ranks 4,675 on the 2008 “Inc. 5000” list.

“I would like to take this opportunity to thank the employees and customers of STI. Without you, none of this would be possible,” said David Raby, president and CEO in a statement.

Inc. Magazine's annual list ranks the country’s fastest-growing private companies.

STI builds PCBs and provides training, consulting, laboratory analysis, among other services.

ARLINGTON, VA — PCs are not children's products, a trio of industry trade groups told the Consumer Product Safety Commission (CPSC), and new rules governing materials used in electronics should not be extended to PCs.

Commenting on the recently enacted Consumer Product Safety Improvement Act, the Information Technology Industry Council, Consumer Electronics Association and IPC argued the new requirements limiting the use of phthalates and lead in products intended for children suffer from a "lack of clarity." 

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