News
New York -- Air freight markets throughout Asia are being hit with a range of market conditions that are fueling rates and fuel surcharges and curtailing lift availability.
Following the weeklong China Holiday celebration, the marketplace experienced a sudden surge of shipments, according to freight forwarder Trans Global Logistics. Electronics and hardgoods manufacturers in Northern Asia have had a significant impact on the market, and in Korea absorbed 70% of the lift out of Incheon Airport. Adding to the scramble for available lift, Microsoft is rumored to be making plans to move 2,700 tons of cargo by mid-November.
All Asian and Indian Subcontinent regions are reporting longer transit times. Shipments moving through the primary regional hubs of Singapore, Seoul, Tokyo and Taipei can take an extra four to five days to connect, says TGL.
In Southeast Asia and India, space availability is tight, but rates are relatively stable. Meanwhile, in Shanghai carriers are signaling another rate increase of 10% in late November and rates in Taiwan will increase 13-15%, the country’s third rate increase since September.
Following the weeklong China Holiday celebration, the marketplace experienced a sudden surge of shipments, according to freight forwarder Trans Global Logistics. Electronics and hardgoods manufacturers in Northern Asia have had a significant impact on the market, and in Korea absorbed 70% of the lift out of Incheon Airport. Adding to the scramble for available lift, Microsoft is rumored to be making plans to move 2,700 tons of cargo by mid-November.
All Asian and Indian Subcontinent regions are reporting longer transit times. Shipments moving through the primary regional hubs of Singapore, Seoul, Tokyo and Taipei can take an extra four to five days to connect, says TGL.
In Southeast Asia and India, space availability is tight, but rates are relatively stable. Meanwhile, in Shanghai carriers are signaling another rate increase of 10% in late November and rates in Taiwan will increase 13-15%, the country’s third rate increase since September.
In Hong Kong, demand for space is outpacing supply and carriers are responding slowly to demands for more capacity. The situation to Europe is worse: Air freight rates to key gateways are higher than to the U.S., and the cost of charter craft is being bid upwards of $400,000.
DOWNERS GROVE, IL, and INDIANAPOLIS — Made2Manage Systems has paid $5 million cash to acquire Capri Corp., parent company of ERP software provider Cimnet Systems.
M2M president and CEO Jeff Tognioni said in a press release that the acquisition should help the company expand geographically and strengthen its presence in the PCB manufacturing sector.
Mehul Davé, president of Capri Corp., added that Cimnet customers should not experience any disruption in service delivery, customer support or training during the transition.
The Boards of both companies have approved the transaction, which is expected to close by the end of 2005.
Made2Manage Systems provides ERP solutions for manufacturers across multiple manufacturing industries in the U.S., Canada and UK.
M2M president and CEO Jeff Tognioni said in a press release that the acquisition should help the company expand geographically and strengthen its presence in the PCB manufacturing sector.
Mehul Davé, president of Capri Corp., added that Cimnet customers should not experience any disruption in service delivery, customer support or training during the transition.
The Boards of both companies have approved the transaction, which is expected to close by the end of 2005.
Made2Manage Systems provides ERP solutions for manufacturers across multiple manufacturing industries in the U.S., Canada and UK.
NEENAH, WI -- Plexus Corp. reported fourth-quarter
sales rose 18% to $322.2 million and net income of $10.5 million, reversing a net loss of $37 million last year.
For the fiscal year ended Oct. 1, the EMS firm showed a net loss of $12.4 million on revenues of $1.23 billion. Last year, Plexus reported and a net loss of $31.6 million on revenues of $1.04 billion.
For the fiscal year ended Oct. 1, the EMS firm showed a net loss of $12.4 million on revenues of $1.23 billion. Last year, Plexus reported and a net loss of $31.6 million on revenues of $1.04 billion.
SAN JOSE -- Sanmina-SCI
Corp.'s fourth-quarter profit grew to $15.1
million, despite a revenue slide of 16% to $2.77 billion over last year.
The company took $18.3 million in one-time charges for the quarter.
GREENVILLE, SC -- James P. McClintock resigned as head of business units and new business development of passives components maker Kemet Corp., effective Nov. 1.
The company did not disclose a reason in a press release issued Oct. 31.
On Oct. 26, Kemet reported a narrower quarterly loss.
McClintock is a former president and chief operating officer of the company. McClintock will receive separation pay of $320,000, a car allowance worth $6000, and health, life and disability insurance benefits for six months subject to certain terms and final agreement.
The company did not disclose a reason in a press release issued Oct. 31.
On Oct. 26, Kemet reported a narrower quarterly loss.
McClintock is a former president and chief operating officer of the company. McClintock will receive separation pay of $320,000, a car allowance worth $6000, and health, life and disability insurance benefits for six months subject to certain terms and final agreement.
HAUPPAUGE, NY -- RVSI Inspection, a maker of semiconductor and package
inspection gear, named Kevin Maddy president.
Maddy has spent 25 years in manufacturing, the past 14 in management. He has worked for Ford, Unisys, United Technologies, Howmet and SPX Corp., and played an active role in the turnaround and restructuring of Pratt and Whitney. During the past eight years, Maddy has focused on managing the turnaround of independent manufacturing facilities with sales under $200 million.
In a press statement, Maddy. said, “I am looking forward to utilizing my leadership and proven track record to help develop superior relationships with RVSI’s customers by delivering a quality product on time.”
Maddy has spent 25 years in manufacturing, the past 14 in management. He has worked for Ford, Unisys, United Technologies, Howmet and SPX Corp., and played an active role in the turnaround and restructuring of Pratt and Whitney. During the past eight years, Maddy has focused on managing the turnaround of independent manufacturing facilities with sales under $200 million.
In a press statement, Maddy. said, “I am looking forward to utilizing my leadership and proven track record to help develop superior relationships with RVSI’s customers by delivering a quality product on time.”
BOSTON -- A pair of leading makers of screen printers have signed a licensing agreement for a patented print head.
DEK will license its "ProFlow" enclosed print head technology to Ekra, for use in new machines. The deal is for five years, and financial terms were not disclosed.
The agreement also covers printers sold under the Asys name. Asys purchased Ekra earlier this year.
DEK will license its "ProFlow" enclosed print head technology to Ekra, for use in new machines. The deal is for five years, and financial terms were not disclosed.
The agreement also covers printers sold under the Asys name. Asys purchased Ekra earlier this year.
MINNEAPOLIS -- Nortech Systems
today reported record net sales of $20.9
million for the third quarter ended Sept. 30, 2005, up 9% over 2004.
Net income was up 10% to $260,357.
Year-to-date sales are up 16%, to $60.5 million, and net income is up 30%, to $498,210.
ST. LOUIS -- LaBarge Inc. reported net sales fell 9.2% year-over-year to $39.6 million for the quarter ended Oct. 2. Net
earnings were down 13% to $2 million, due to customer delays in startup programs and rescheduled
shipments.
Craig LaBarge, chief executive and president, said, "Production has now ramped up on most of the affected programs and we expect shipments to proceed without further delays."
Craig LaBarge, chief executive and president, said, "Production has now ramped up on most of the affected programs and we expect shipments to proceed without further delays."
Richardson, TX – To help the industry company with the EU’s RoHS Directive, the SMTA is offering a one-day mini-conference on Complying with RoHS. The event, moderated by Harvey Stone of the Goodbye Chain Group, will take place December 7 at the Richardson Hotel in Richardson, TX.
The sessions will focus on actual experiences that companies are having when solving difficult compliance challenges.
For the topics and agenda, visit: smta.org/education/symposia/symposia.cfm
SPOKANE, WA -- Key Tronic
Corp. an mid-sized EMS provider,
today announced first-quarter revenue of $44.3 million, down 9% from
last year, for the quarter ended
Oct. 1.
Net income was $702,000, up 166% from $266,000.
Net income was $702,000, up 166% from $266,000.
MILPITAS, CA -- Solectron Corp. has completed a $250
million stock buyback begun in July, and will conduct a similar-sized
stock repurchase program starting in the second quarter of fiscal 2006.
Press Releases
- Indium Corporation Technical Expert to Present at SiP Conference China
- Flex Announces Kevin Krumm as Chief Financial Officer
- Green Circuits Enhances Inspection Capabilities with New DAGE Quadra 5 Pro X-ray System
- Western Digital CEO David Goeckeler Elected Chair of Semiconductor Industry Association