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SEOUL -- US-based
private equity group Ripplewood has emerged as the preferred bidder to
buy Daewoo Electronics, the company's leading creditor said yesterday.
A deal for the money-losing consumer electronics maker is hoped to be struck by year-end.
The bid price was not disclosed, but local reports pegged it in the range of $288 million to $324 million. If correct, that marks up to a 43% drop from a bid submitted last year by a group led by Videocon Industries, which creditors rejected as too low.
Creditors own 97.5% of Daewoo.
TAIPEI – Hon Hai Precision Industry (the trade name of Foxconn) reported net profit of $540 million for its third quarter, down 10% year-over-year, but beating market expectations.
LOS ALTOS, CA – Although capital investment outlays will slow, the communications equipment industry will survive the economic downturn in reasonable shape, says Henderson Ventures.
Worldwide equipment production will slow from a 6.8% rate in 2007 to a 3.2% pace this year, according to the research firm. A further deceleration will take growth rates to 2.7% next year before rebounding to 9.6% in 2010.
China is expected to achieve a solid 9.6% gain this year. Even so, that pales before the 19.8% burst chalked up during 2007, says Henderson.
During the past few years, the total number of handset subscribers has mushroomed as prices have plunged to meet market requirements in developing countries. But a dwindling unserved market, along with a poor economic environment during 2009, is likely to result in a drop in new subscribers, the company predicts.
Handset shipments are slated to decelerate sharply, as the economic environment encourages cellphone owners to postpone the purchase of upgraded handsets. Shipment growth is predicted to decelerate from 15.1% in 2007 through 7.8% in 2008 to only 3.9% next year.
And given the increased emphasis on developing markets, handset revenues are forecast to be stagnant next year. The ongoing financial crisis is expected to be resolved by 2010. Rejuvenated economic growth and a new replacement cycle will create a 9.5% unit gain that year.
Worldwide equipment production will slow from a 6.8% rate in 2007 to a 3.2% pace this year, according to the research firm. A further deceleration will take growth rates to 2.7% next year before rebounding to 9.6% in 2010.
China is expected to achieve a solid 9.6% gain this year. Even so, that pales before the 19.8% burst chalked up during 2007, says Henderson.
During the past few years, the total number of handset subscribers has mushroomed as prices have plunged to meet market requirements in developing countries. But a dwindling unserved market, along with a poor economic environment during 2009, is likely to result in a drop in new subscribers, the company predicts.
Handset shipments are slated to decelerate sharply, as the economic environment encourages cellphone owners to postpone the purchase of upgraded handsets. Shipment growth is predicted to decelerate from 15.1% in 2007 through 7.8% in 2008 to only 3.9% next year.
And given the increased emphasis on developing markets, handset revenues are forecast to be stagnant next year. The ongoing financial crisis is expected to be resolved by 2010. Rejuvenated economic growth and a new replacement cycle will create a 9.5% unit gain that year.
NATICK, MA – Cognex is offering a series of free machine vision seminars.
This half-day event explains setup and deployment of vision systems for automated inspection tasks in the automotive, medical and electronics industries, among others.
Each seminar combines a basics tutorial with live demonstrations of the four-step process for setting up a machine vision application with EasyBuilder software for In-Sight systems. The tutorial covers how vision systems work in manufacturing applications to accurately inspect, guide, and identify products.
The seminars run through December and are held in the US, Canada and Mexico. To register, visit www.cognex.com/seminar.
This half-day event explains setup and deployment of vision systems for automated inspection tasks in the automotive, medical and electronics industries, among others.
Each seminar combines a basics tutorial with live demonstrations of the four-step process for setting up a machine vision application with EasyBuilder software for In-Sight systems. The tutorial covers how vision systems work in manufacturing applications to accurately inspect, guide, and identify products.
The seminars run through December and are held in the US, Canada and Mexico. To register, visit www.cognex.com/seminar.
SAN JOSE -- Sanmina-SCI president and chief operating officer Joe Bronson, the man many credit for returning the company to profitability, is leaving the electronics manufacturing services firm, the company said Wednesday night.
SAN JOSE – Sanmina-SCI reported fiscal fourth-quarter sales from continuing operations dropped 2.8% from last year to $1.7 billion. GAAP net income was $22,000, compared to a net loss of $1.1 billion a year ago, including a $1 billion writeoff for goodwill.
ST. LOUIS -- LaBarge Inc. is reporting fiscal 2009 first-quarter net sales grew 15% year-over-year to $68.2 million, and net earnings climbed 46% to $3.7 million.
MUNICH – Seica SpA has opened a customer demo and support center in Munich, outfitted with the company's line of automated test and soldering equipment.
Customers can use the ATE equipment for benchmarks and evaluation purposes. Also offered is machine and software training.
Customers can use the ATE equipment for benchmarks and evaluation purposes. Also offered is machine and software training.
The center is equipped with a Firefly selective soldering system, a Pilot flying probe tester, and a Strategy ICT/functional tester.
VANCOUVER, WA – Stilwell Baker's new 3,000 sq. ft. design center in Vancouver will be the firm’s core location for design for manufacturing and component engineering, the company said this week.
The facility incorporates state-of-the-art workstations in a secure network environment with an emphasis on responsiveness and integrated communications.
The facility incorporates state-of-the-art workstations in a secure network environment with an emphasis on responsiveness and integrated communications.
GOTEBORG, SWEDEN – Production logistics supplier FlexLink reported third-quarter sales were $54 million for the quarter, up 9% compared to the same period in 2007, while earnings were $5 million, with an EBITA margin of 9%.
Orders for the quarter rose 16% year-over-year to $51 million. Orders for the first nine months were $179 million, up 24% year-over-year, the firm’s highest ever for comparable periods.
Orders for the quarter rose 16% year-over-year to $51 million. Orders for the first nine months were $179 million, up 24% year-over-year, the firm’s highest ever for comparable periods.
Sales for the first nine months were $159 million, up 14% compared to last year, and earnings were $14 million, with an EBITA margin of 9%.
ELKHART, IN -- EMS sales at CTS Corp. fell 8% to $97.5 million year-over-year, reflecting slowing demand for computers and industrial products. September quarter operating earnings dropped 31% to $2.7 million, primarily on lower volumes.
The EMS division, one of the world's 40 largest, saw strength in defense and aerospace, medical and communications.
NEENAH, WI – Plexus Corp. reported third-quarter revenue rose 4.3% sequentially to $476 million. Gross profits dropped 7.2% to $53.7 million, while net profits were down 30.5% to $17.3 million.
For the quarter ended Sept. 27, return on invested capital was 20.1%. Cash flow used by operations was approximately $400,000. The top 10 customers comprised 61% of revenue during the quarter, down one point sequentially, with Juniper Networks (19% of revenue) the only customer above 10%.
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