News
SINGAPORE – Venture Corp. Ltd. reported revenue of $524.1 million for the quarter ended Sept. 30, up 3.7% sequentially.
BEIJING – China will reduce rare earth export quotas 30% next year to protect its precious metal supplies, the China Ministry of Commerce said.
China already cut 2010 production and export quotas 72% for the second half to 7,976 tons, based on ministry data.
If the current rate of production holds steady, medium and heavy rare earths reserves could dry up within 15 to 20 years, an anonymous spokesperson says, according to published reports. China produces 95% of the world supply.
Domestic deposits fell to 27 million tons by the end of last year, 30% of the world's total explored reserves, down 37.2% compared to levels in 1996.
The US holds an estimated 15% of the world's reserves, but relies on imports.
TAIPEI – Hon Hai (Foxconn) posted third-quarter unconsolidated sales of $21.7 billion, up 72% year-over-year, say reports.
TAMIL NADU, INDIA -- Contract assembly firm Syrma Technology will expand its footprint outside Chennai, adding a 20,000 sq. ft. to its manufacturing site by year-end.
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BUCKS, UK -- The UK SMART Group is collaborating on a two-year counterfeit detection research project with the aim of developing a novel automated x-ray inspection system.
NEENAH, WI -- Plexus will invest up to $30 million to build a large manufacturing facility in a new industrial park in Oradea, Romania, the company disclosed today.
SURREY, ENGLAND – TT Electronics said sales from continuing operations in the first nine months of 2010 grew 29% to $679.6 million.
The firm, which supplies components and electronics manufacturing services, expects higher volumes to continue through the end of the calendar year.
The company said improved business conditions continued in the quarter with good growth in most of its markets, including the automotive markets in Europe and Asia.
TT Electronics swung to a first-half profit in August.
TORONTO – Celestica Inc. reported third-quarter revenue of $1.55 billion, nearly flat with the same period of 2009.
GAAP net earnings were $35.4 million, compared to a GAAP net loss of $600,000 for the third quarter of 2009.
BANNOCKBURN, IL – The global EMS industry is returning to double-digit growth, says IPC.
NEENAH, WI – Plexus Corp. reported fourth-quarter revenue was $556 million, up 41% from a year ago and 3.6% sequentially on broad-based demand.
SINGAPORE – Flextronics International Ltd. reported GAAP net income of $144 million for the second quarter, up a staggering 620% year-over-year.
RENO, NV – Dr. Jeremy Smallwood, managing director of Electrostatic Solutions, received the Industry Pioneer Recognition Award at the EOS/ESD Symposium here.
The plaque recognized Dr. Smallwood’s “unselfish devotion to advancing the awareness of EOS/ESD throughout the world and for the significant contributions” he has made to the ESD Association.
David Swenson, past president and a director of the association, presented the award.
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