SARASOTA, FL – Inovaxe appointed CR Tech as manufacturing representative for the Midwest. Grafton, WI-based CR Tech will exclusively cover Wisconsin, Illinois and Iowa.
The firm will also share Minnesota, Indiana and Michigan with other rep firms.
TORONTO -- Celestica Inc. today promoted president Craig Muhlhauser to chief executive, effective immediately. He succeeds Steve Delaney, who is resigning from Celestica to pursue other business interests.
Delaney had been president since January 2004. Celestica has had lingering financial woes: its GAAP net loss widened to $42.1 million for the September quarter, dragged down by $82 million in restructuring charges.
CHICAGO – Connector manufacturers and distributors at the National
Electronic Distributors Association annual conference in November suggested
that overall market fundamentals remain healthy despite concerns of slowing
industrial demand and bloated EMS inventory
levels.
So wrote
Carter Shoop, an analyst with Deutsche Bank Equity Research, in a research note.
He added that other contacts at component makers and distributors seemed more
cautious.
“We believe
the differing views stem from a larger inventory workdown in capacitors and semiconductors
versus connectors. Connectors tend to be more application specific and have
more stable lead times than capacitors and semi's, resulting in less volatility
throughout a cycle,” he wrote.
For the current quarter, demand for military and aerospace electronics are slightly
ahead of forecasts, while industrial and handset products are off.
Meanwhile, industry-wide
inventory reduction has accelerated, with several contacts observing a “meaningful
reduction” at top tier EMS vendors in October.
Efforts are expected to continue through at least December.
DB had previously
estimated global EMS and ODM companies
had about $3 billion worth of excess parts
in inventory. “As a consequence of moderating end-demand, bloated inventories
and contracting lead times, we believe EMS and distribution vendors, in
aggregate, will reduce component inventories over the next two (possibly three)
quarters on an absolute basis.”
ST. PETERSBURG, FL -- Jabil Circuit today launched a bid for Taiwan Green Point Enterprises Co., a provider of electromechanical
manufacturing and services for mobile products.
Jabil said it would offer about $3.31 a share for
Green Point stock, putting the bid between $875 million and
$900 million.
SALT LAKE CITY -- CirTran Corp., an electronics contract manufacturer, announced third-quarter net
sales fell 27.2% year-over-year to $3 million, while the net
loss was $2.9 million, including $2.65 million in non-cash charges.
For the period ended Sept. 30, sales were up 37% sequentially.
LAKE FOREST, CA -- EMS firm Probe Manufacturing Inc. today reported third-quarter revenues of $2.5 million, up 70% over the same period in 2005. Gross profits rose 90% to $612,578 for the period ended Sept. 30.
The net profit was $40,325, up from a loss of $217,844 last year.