Circuits Assembly Online Magazine - News

News

Glen Cove, NY— PCB manufacturer Photocircuits Corp. has received approval to proceed with the sale of substantially all of its assets, including the assumption of certain liabilities, to a long term equity investor.

A private equity investor is currently the leading bidder in the auction. The firm has stated its intention to operate the business with the current management team and employees.

The final purchase price is subject to other offers that might arise at the formal auction on February 6.

The sale will bring Photocircuits nearer to the completion of its reorganization under Chapter 11 of the U. S. Bankruptcy Code.

NEW YORK -- End-markets for electronics products continue to grow at a modest pace, boosting semiconductor sales, a leading market watcher said today.

"We believe that end-markets grew at a modest pace in Q4. Handsets, mobile PCs, and consumer electronics were strong, but our checks in Taiwan did uncover a modest inventory build in PC components," Jack Romaine, an analyst with SG Cowan, wrote in a note issued today.

HELSINKI -- Aspocomp Group, the second largest PCB company in Europe, plans build a printed circuit board plant in Chennai, India, the company said today.

Aspocomp will invest 60 million euros in the the plant, India's first HDI production facility, Aspocomp said.

TEMPE, AZ -- Three-Five Systems Inc. has filed a joint plan of reorganization with its wholly owned subsidiary, TFS-DI Inc. in their respective bankruptcy cases.

The plan proposes a reorganization of both companies into a single post-bankruptcy entity.

If approved, the reorganized TFS's operations will be limited to the liquidation and monetization of all its non-cash assets. These assets comprise the cash and non-cash assets of the two companies, which will be substantively consolidated under the plan, TFI said in a filing.

The company anticipates that sufficient cash will exist in the consolidated estate on the plan's effective date to pay all claims of all creditors in all classes and that there will be final cash distributions to company shareholders.

NORTH BILLERICA, MA -- BTU International Inc. has decided on Shanghai as its new Asia-Pacific headquarters.

The company also named Boris Mathiszik director of sales for the Asia-Pacific region. Mathiszik was vice president, x-ray inspection at Phoenix/X-ray Systems.

ELM CITY, NC – Following a late December fire that devastated its manufacturing plant, Fawn Electronics has relocated into a temporary site in Wilson, NC, where it is performing final integration while working feverishly to reestablish full production.

Early in the morning of Dec. 22, fire ripped through the company's plant in Elm City, destroying much of it. The fire has been ruled accidental. Work has been subcontracted while the new site is brought online.

HALF MOON BAY, CA -- Attendees on the second day of the SEMI Strategic Materials conference learned how Japanese materials suppliers joined together to cut costs, and were given an optimistic outlook on the convergence of front-end and back-end processes in chip making.

Yoshifumi Kawamoto, director general manager, R&D department, CASMAT, outlined the formation of the R&D consortium established in 2003 by Japanese materials suppliers. Member companies include JSR, Sumitomo Chemical, Sekisui Chemical, Tokyo Ohka Kogyo, Nitto Denko, Hitachi Chemical, Toray Industries and others.

BEIJING -- China imported more than $19 billion worth of technology last year, up 37.5% over the previous year and setting a new record.

More than 43%, or $8.27 billion, of the total import value of technology came from foreign enterprises operating in China. That’s up 23.6% from 2004.

Trenton, NJ – Tyco International Ltd. has confirmed its plan to split into three public companies. Electronics and healthcare units will be spun off from the remaining operations (which include security and fire-protection services) during the first quarter of 2007. Tyco expects about $1 billion in costs for tax liabilities and the refinancing of debt.

“We believe separation is a logical next step in Tyco's solution,” said Ed Breen, chairman and chief executive, during a conference call with analysts and investors. “The biggest issue to me actually was growth. That's really the thing we looked at.”

ANGLETON, TX -- Benchmark Electronics, a leading EMS firm, said today that it expects to meet or exceed fourth quarter 2005 analysts' consensus of $604 million revenues and earnings per share of $0.52.

MELVILLE, NY -- Nu Horizons Electronics, a distributor of electronics components, reported net sales rose to $147.5 million from $116.2 million for the quarter ended Nov. 30, 2005. Net income was $1.5 million vs. $585,000 last year.

Sequentially, net sales rose 15% to $19.3 million, and net income almost doubled to $1.5 million.

Year-to-date, net sales were up12.3% to $397.2 million, from $353.6 million last year. Net income was down $100,000, to $2.8 million.

In a press statement, chairman and chief executive Arthur Nadata said, "The third quarter was a very exciting and busy period for us. New additions to our line card, combined with the expansion of certain partnerships, enabled our sales force to penetrate into new markets and provide enhanced system solutions for customers."

Nu Horizons added 100 sales and engineering staff during the quarter, he said.