TOKYO -- Panasonic's cost-cutting will next hit its chip assembly unit as the company has a deal in place to sell three plants to United Test and Assembly Center, Reuters reported today. Panasonic is declining comment on the report, which claims a deal will be completed by early February.

MILPITAS, CA -- Silicon Turnkey Solutions today announced the asset acquisition of Bay Area EMS, a Milpitas-based electronics manufacturing services company. Terms were not disclosed.

AUSTIN, TX — VirTex Enterprises has acquired fellow EMS MTI Electronics for an undisclosed sum. Menomonee Falls, WI-based MTI will become a wholly owned subsidiary and is expected to maintain its current operations and personnel.

NEENAH, WI – Plexus tonight reported fiscal first-quarter sales of $534 million, up 0.66% year-over-year. Net income was $17.7 million, up 6.6% compared to the same quarter last year.

IRVINE, CA -- MFlex today said preliminary fiscal first quarter revenue will be within previous company guidance albeit sharply lower than a year ago. Continued softness in the current quarter will spur restructuring and losses, the company said.