News
STOCKHOLM – NOTE, one of Europe’s largest EMS providers, is laying off 124 employees across four locations in Sweden.
MANAMA, BAHRAIN – An investment group on this Indian Ocean island nation has purchased a majority stake in EMS provider Victron.
Victron has a 130,000 sq. ft. manufacturing plant in Fremont.
"Our partnership with Unicorn will allow us to further leverage our core competencies to serve the growing number of companies with high-mix electronics needs," said Victron president Chris Lee. "We are excited at the opportunity of working with Unicorn's team to explore international expansion opportunities."
Unicorn Investment Bank invested $70 million to acquire an 80% equity stake in the Fremont, CA-based EMS company. Its management team is expected to stay on.
"Victron combines strong execution capabilities with highly-flexible operations, resulting in a unique and highly-competitive business model," said Unicorn global private equity managing director Aamir Khan, in a statement.
"Victron combines strong execution capabilities with highly-flexible operations, resulting in a unique and highly-competitive business model," said Unicorn global private equity managing director Aamir Khan, in a statement.
Victron has a 130,000 sq. ft. manufacturing plant in Fremont.
"Our partnership with Unicorn will allow us to further leverage our core competencies to serve the growing number of companies with high-mix electronics needs," said Victron president Chris Lee. "We are excited at the opportunity of working with Unicorn's team to explore international expansion opportunities."
YAVNE, ISRAEL – Software provider Valor Computerized Systems plans an initial public offering of ordinary shares, according to a Securities and Exchange Commission filing.
The company did not disclose the expected size or price range of the IPO, but indicated the planned March offering may net up to $80.5 million.
The company plans to offer $50 million of shares, while shareholders will make an offer to sell of up to an additional $20 million of their shares and underwriters will be granted options for an additional $10.5 million worth of shares.
For the nine months ended Sept. 30, Valor's earnings were $2.2 million on revenue of $31.4 million.
The company did not disclose the expected size or price range of the IPO, but indicated the planned March offering may net up to $80.5 million.
The company plans to offer $50 million of shares, while shareholders will make an offer to sell of up to an additional $20 million of their shares and underwriters will be granted options for an additional $10.5 million worth of shares.
For the nine months ended Sept. 30, Valor's earnings were $2.2 million on revenue of $31.4 million.
Valor, currently traded on the Frankfurt Exchange, said its new symbol will be "VLOR."
SPRINGFIELD, MA — A merger by a pair of EMS companies has led to a name change for the combined entity.
Nu Visions and Veritek are now OnCore Manufacturing Services (OnCore). The company focuses on the defense/aerospace, medical and industrial segments, and has locations in Springfield, MA; Longmont, CO; San Jose and San Marcos, CA; and Tijuana, Mexico.
The merged company has estimated sales of more than $200 million and more than 900 employees. Its Web site is www.oncorems.com.
Nu Visions and Veritek are now OnCore Manufacturing Services (OnCore). The company focuses on the defense/aerospace, medical and industrial segments, and has locations in Springfield, MA; Longmont, CO; San Jose and San Marcos, CA; and Tijuana, Mexico.
The merged company has estimated sales of more than $200 million and more than 900 employees. Its Web site is www.oncorems.com.
SAN JOSE – Sanmina-SCI today said its first-quarter fiscal 2008 revenue would be $2.53 billion, in line with previous guidance of $2.5 billion to $2.65 billion.
ANGLETON, TX – EMS provider Benchmark Electronics announced it continues to expect fourth quarter revenue of between $700 million and $740 million.
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