News
TEMPE, AZ - Three-Five Systems has signed a definitive agreement to sell the assets of its small form factor-display business to International Display Works. The deal is expected to close within two to four weeks and is valued at $11 million to $21 million.
The deal covers all outstanding shares of TFS's China-based display subsidiary, and display-related equipment in its Manila, Philippines factory.
IDW will
also assume the obligations of TFS Beijing, including a $2.4 million line of
credit established with a bank located in China.
The sale does not include TFS's display monitor business or electronic
manufacturing services businesses in Redmond, WA; Penang, Malaysia; and Manila.
TFS estimates the total value of the transaction at $11 million to $21 million, including $8 million in cash to be paid to TFS at closing; up to $3 million more in cash to be paid over time, based upon inventory consumption and accounts receivable collections; and up to $9 million in IDW common stock to be paid to TFS in May 2006.
Jabil, which did not provide new guidance, predicts sales to grow 20 to 25% range per year through fiscal 2007. The company forecasts a 25% return on invested capital during that time.
The new facility houses a manufacturing plant for rework vision equipment, plus sales and administration offices for all APE companies.
APE's government and through-hole manufacturing will continue at its New York facility, while training, classrooms and technical development will be conducted in Key Largo.
CHICAGO - Almost every leading tech firm says it will hire new employees in 2005, according to an annual survey of chief executives by a major consulting firm.
Deloitte & Touche, in its 2005 CEO Survey of the fastest growing technology companies in North America, found 95% of tech CEOs plan to hire more workers this year.
The survey was administered to CEOs of companies ranked on Deloitte's listing of the 500 fastest growing technology companies. Nearly 150 CEOs responded to the survey, conducted earlier this quarter.
Of the 95% of CEOs who say they are hiring, 42% plan to add at least 25% more employees in the next 12 months, and 19% plan to add more than 50%.
More CEOs are convinced that 2005 will bring better times. A total of 36% of respondents predicted higher growth in 2005, compared to 21% last year (results may not correlate due to differences in reporting). And almost 75% of the CEOs surveyed were "extremely" or "very" confident about their companies' future growth.
The top challenge for growth is bringing new products to market, said more than one-quarter of the respondents. Other ranking issues are pricing pressure and building strategic relationships.
Tech CEOs feel government initiatives aren't called for to promote growth over the next 12 months, the survey found.
CALRSBAD, CA - Palomar Technologies, a maker of equipment and process development for electronics assembly, has moved to a 39,000 sq. ft. facility with a larger cleanroom and applications lab.
"It was important for Palomar to acquire upgraded laboratory facilities for advanced R&D and applications development," said Kevin Conlon, president of Palomar Technologies. "These new facilities will better enable us to develop the equipment and process solutions required for the advanced applications under development by our customers, notably those which require a cleanroom."
The new plant will house Palomar's central offices, design and manufacturing, a larger cleanroom, and an applications, process development and prototyping lab.
Operating margins fell to 10.2%, from 10.7% in 2003.
Fourth-quarter sales and operating margins were below the annualized rates. Sales fell 3.5% year-on-year, and operating margin were 7.5%.
Chin Poon was the world's 36th largest PCB maker in 2003, according to PCD&M consulting editor Dr. Hayao Nakahara of NT Information.
