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PLAN-LES-OUATES SWITZERLAND — Cicor will acquire a manufacturing operation as part of a strategic supply agreement with Mercury Mission Systems.
The move supports Mercury’s plan to refocus on core engineering and systems integration by outsourcing part of its European electronics production. Cicor will absorb 34 employees and transition manufacturing to its facilities in Newport, UK, and Bronschhofen within 18 months.
Mercury committed to five years of product purchases from Cicor valued in the high double-digit million CHF range. Cicor said the deal strengthens its pan-European platform for mission-critical aerospace and defense electronics and follows its planned acquisition of MADES S.A.U. in Spain.
BANG KADI, PATHUM THANI, THAILAND -- SVI Public Co. and China Circuit Technology (Shantou) have agreed to a joint venture here where the two companies will build printed circuit boards. The JV, which is 75% owned by SVI, will produce multilayer and high‑density interconnect PCBs.
The firms are investing a combined 1.60 billion baht (about 48 million) in the JV, called Advanced Interconnection Technology Company Ltd.
A combination of company cash flow and bank loans are being used to finance the development.
LAS VEGAS – CB Tech has acquired Phoenix-based Reliable Circuits, expanding its inhouse capabilities to include advanced circuit board design, production, and assembly. Financial terms were not disclosed.
The move strengthens the water filtration firm’s supply chain and supports innovation in electronically controlled systems, CB Tech said in a press statement.
Reliable Circuits is a longtime supplier to CB Tech and serves other sectors including traffic management and aviation equipment. Following the deal, it will continue operating in Phoenix under CB Tech’s leadership.
“This partnership shows our commitment to providing topnotch water filtration solutions and highlights our dedication to supporting our affiliates, vendors, and customers around the globe,” said Zachary Rice, president, CB Tech.
Philip Carlson, production manager at Reliable Circuits, added, “Joining forces with CB Tech presents a great opportunity for growth and innovation. We look forward to the opportunities ahead and the role Reliable Circuits will play in CB Tech’s continued success.”
NOIDA, INDIA -- Foxconn is exploring a 300-acre land parcel in Greater Noida for a large-scale manufacturing facility, according to reports.
TT Electronics reported revenue at its electronics manufacturing services segment fell 15% year-over-year to £252.8 million ($332 million), while adjusted operating profit rose 10% to £24.7 million.
The company, which also operates separate power and components business units, said persistint softness in demand for the latter has opened the door to a possible diversification of the unit.
Consolidated full-year 2024 revenue of £521.1 million ($664 million), down 15%, with adjusted operating profit falling 21% to £37.1 million ($47 million). The company cited strong gains in Europe and Asia, but performance was hampered by weak demand and operational issues in North America.
The company reported an operating loss of £23.5 million, which included a £52.2 million impairment charge. Free cash flow improved 16% to £27.7 million, and net debt fell 23% to £97.4 million.
Adjusted operating margin fell 40 basis points to 7.1% on a constant currency basis.
Guidance for 2025 sees adjusted operating profit between £32 million and £40 million, as the company continues its cost-saving plans amid demand uncertainty.
MILPITAS, CA – Global semiconductor equipment sales rose 10% in 2024 to $117.1 billion, setting a new high, according to SEMI’s latest report. Growth was led by wafer processing and back-end equipment, with the latter rebounding sharply due to rising demand for AI and high-bandwidth memory production.
China drove much of the momentum, with investments climbing 35% to $49.6 billion, making it the top regional market. Korea followed at $20.5 billion, up 3%, while Taiwan dropped 16% to $16.6 billion. North America saw a 14% increase to $13.7 billion, reflecting renewed domestic manufacturing efforts. Europe and Japan saw declines, down 25% and 1%, respectively.
SEMI president and CEO Ajit Manocha said the record-setting year was fueled by “regional investment trends, advancements in logic and memory, and AI-driven demand.”
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