News
SALT LAKE CITY -- CirTran Corp., a full-service EMS firm, has closed and received bankruptcy court approval to purchase almost all assets of Advanced Beauty Solutions for a total of $2.31 million.
Iehab J. Hawatmeh, CirTran's founder and President, said an
Last week's agreement covers ABS's flat iron and hair dryer product inventory, intellectual property, customer lists, a 30-minute infomercial and trade secrets.
CirTran will pay ABS $1.125 million in cash at closing, and will reduce its approved claim in the bankruptcy against ABS by $750,000. CirTran will pay the balance to ABS as a guaranteed royalty over two years.
ABS had defaulted on a manufacturing agreement with CirTran under which the EMS firm was to build hair dryer kits. Through October 2005, CirTran had shipped about $4.75 million worth of product to ABS, for which it had received payments of $788,000. In November, CirTran repossessed approximately $2.34 million worth of product from ABS and began selling those products directly.
In January, CirTran sued ABS, claiming breach of contract and fraud. At the same time, ABS filed for Chapter 11.
The bankruptcy court last week approved of the sale of ABS's assets to CirTran.
Iehab J. Hawatmeh, CirTran's founder and President, said an
Last week's agreement covers ABS's flat iron and hair dryer product inventory, intellectual property, customer lists, a 30-minute infomercial and trade secrets.
CirTran will pay ABS $1.125 million in cash at closing, and will reduce its approved claim in the bankruptcy against ABS by $750,000. CirTran will pay the balance to ABS as a guaranteed royalty over two years.
ABS had defaulted on a manufacturing agreement with CirTran under which the EMS firm was to build hair dryer kits. Through October 2005, CirTran had shipped about $4.75 million worth of product to ABS, for which it had received payments of $788,000. In November, CirTran repossessed approximately $2.34 million worth of product from ABS and began selling those products directly.
In January, CirTran sued ABS, claiming breach of contract and fraud. At the same time, ABS filed for Chapter 11.
The bankruptcy court last week approved of the sale of ABS's assets to CirTran.
ROCHESTER HILLS, MI – EPIC Technologies’ CEO and COO were recognized for entrepreneurial excellence by Ernst & Young at a ceremony on June 8. John Sammut, president and CEO, and Jochen Lipp, vice president operations and COO, received the Entrepreneur Of The Year Award in the Technology category in the Central Great Lakes region.
"While Jochen and I are getting the primary recognition in this award, the reality is that the accomplishments that drove this recognition were attributable to efforts of the entire management and staff of EPIC, “ Sammut said in a press release. “We have an outstanding team and this award continues to demonstrate that industry observers are recognizing that superior results are being generated.”
As Central Great Lakes region award winners, Sammut and Lipp are now eligible for the national program, whose winners will be announced in November.
EPIC is a full service provider of contract electronics services with facilities in Michigan, Ohio, Tennessee and Mexico.
"While Jochen and I are getting the primary recognition in this award, the reality is that the accomplishments that drove this recognition were attributable to efforts of the entire management and staff of EPIC, “ Sammut said in a press release. “We have an outstanding team and this award continues to demonstrate that industry observers are recognizing that superior results are being generated.”
As Central Great Lakes region award winners, Sammut and Lipp are now eligible for the national program, whose winners will be announced in November.
EPIC is a full service provider of contract electronics services with facilities in Michigan, Ohio, Tennessee and Mexico.
SAN JOSE, CA -- Probe 2000 Inc. and BEST Electronics & Components Co. will set up a new probe card repair and manufacturing operation in BEST Electronics' semiconductor test factory in the Philippines. Named P2KP, the test and wafer handling operations are certified to ISO 9001 and TS 16949 standards at the 72,000 sq. ft. facility in Paranaque City.
For analog and mixed signal fabless companies, P2KP can provide integrated one-stop test services including probe card test program development and conversion, wafer back lapping and sorting (at three temperatures), sawing, chip-scale packaging, assembly, electrical
test, tape and reel, and drop shipment to an end customer .
According to the companies’ press release, key benefits include “faster release and time to market in Asia; shorter cycle times and lower cost of wafer test; improved yield at wafer sort; and comprehensive data analysis.”
Probe 2000 specializes in the design, development and manufacture of high-performance epoxy probe cards and related accessories. BEST Electronics & Components offers total parametric and functional test solutions for analog and mixed-signal integrated circuits.
For analog and mixed signal fabless companies, P2KP can provide integrated one-stop test services including probe card test program development and conversion, wafer back lapping and sorting (at three temperatures), sawing, chip-scale packaging, assembly, electrical
test, tape and reel, and drop shipment to an end customer .
According to the companies’ press release, key benefits include “faster release and time to market in Asia; shorter cycle times and lower cost of wafer test; improved yield at wafer sort; and comprehensive data analysis.”
Probe 2000 specializes in the design, development and manufacture of high-performance epoxy probe cards and related accessories. BEST Electronics & Components offers total parametric and functional test solutions for analog and mixed-signal integrated circuits.
HELSINKI -- Qualcomm has filed a complaint against Nokia, accusing the world's largest maker of cellphones of infringing on six patents related to GSM technology.
The complaint, filed with to the U.S. International Trade Commission, asks for a ban on the import and sale of certain Nokia products.
The complaint, filed with to the U.S. International Trade Commission, asks for a ban on the import and sale of certain Nokia products.
SANTA CLARA, CA -- An opponent of pending ban on lead in solders in Europe has launched a signature drive to request an exemption.
John Burke, the principal behind RoHSUSA.com, a Website dedicated to stopping the RoHS movement, today set up a petition to the European committee responsible for the mandate, requesting an exemption for lead.
John Burke, the principal behind RoHSUSA.com, a Website dedicated to stopping the RoHS movement, today set up a petition to the European committee responsible for the mandate, requesting an exemption for lead.
ERIE, PA -- In order to meet manufacturing requirements for RoHS type product, Sunburst Electronics, an electronics contract manufacturer, has purchased an Electrovert OmniExcel 7 solder reflow oven and an Electrovert wave solder machine.
Speedline Technologies manufacturers the Electrovert brand.
Sunburst said in a statement that it already has orders for Pb-free products. Sunburst also said it is partnering with local and regional companies to position them for RoHS compliance by identifying lead times associated with RoHS compliant parts, searching for alternative components or suppliers, evaluating current levels of non-compliant materials, determining strategies to maximize inventory use and creating compliant bills of materials.
Speedline Technologies manufacturers the Electrovert brand.
Sunburst said in a statement that it already has orders for Pb-free products. Sunburst also said it is partnering with local and regional companies to position them for RoHS compliance by identifying lead times associated with RoHS compliant parts, searching for alternative components or suppliers, evaluating current levels of non-compliant materials, determining strategies to maximize inventory use and creating compliant bills of materials.
Press Releases
- NEPCON ASIA 2025: Innovating Smart Manufacturing Ecosystems and Bridging Global Opportunities
- Viasion Technology Expands Global Reach as a Trusted PCB Manufacturer and EMS Provider in China
- Viasion Technology Expands Global Reach as a Trusted PCB Manufacturer and EMS Provider in China
- Nordson Test & Inspection Expands Partnership with Distributor smartTec Nordic A/S