NORTH BILLERICA, MA -- BTU International will purchase the product lines and other assets of Radiant Technology
Corp. for $500,000 in cash and up to 100,000 shares of stock, worth some $17.7 million after the market closed Feb. 9. Closing is expected by early March, the companies said, subject to customary closing conditions including RTC shareholder approval.
RTC makes inline near IR furnaces and dryers primarily used for solar energy.
MELVILLE, NY -- Nu Horizons Electronics, a distributor of electronics components, reported net sales rose to
$147.5 million from $116.2 million for the quarter ended Nov. 30, 2005. Net income was $1.5 million vs. $585,000 last year.
Sequentially, net sales rose 15% to $19.3 million, and net
income almost doubled to $1.5 million.
Year-to-date, net sales were up12.3% to $397.2 million, from $353.6 million last
year. Net income was down $100,000, to $2.8 million.
In a press statement, chairman and chief executive Arthur Nadata said, "The third quarter was a very exciting and busy period for us.
New additions to our line card, combined with the expansion of certain
partnerships, enabled our sales force to penetrate into new markets
and provide enhanced system solutions for customers."
Nu Horizons added 100 sales and engineering
staff during the quarter, he said.
Trenton, NJ – Tyco International Ltd. has confirmed its plan to split into three public companies. Electronics and healthcare units will be spun off from the remaining operations (which include security and fire-protection services) during the first quarter of 2007. Tyco expects about $1 billion in costs for tax liabilities and the refinancing of debt.
“We believe separation is a logical next step in Tyco's solution,” said Ed Breen, chairman and chief executive, during a conference call with analysts and investors. “The biggest issue to me actually was growth. That's really the thing we looked at.”
NEW YORK -- End-markets
for electronics products continue to grow at a modest pace, boosting semiconductor sales, a leading market watcher said today.
"We believe that end-markets grew at a modest pace in Q4. Handsets, mobile PCs, and consumer
electronics were strong, but our checks in Taiwan did uncover a modest
inventory build in PC components," Jack Romaine, an analyst with SG Cowan, wrote in a note issued today.
ST. LOUIS -- LaBarge Inc. has been awarded a contract worth more than $18 million by L-3 Communications to produce subassemblies for an airline checked-baggage
screening system. The agreement is in addition to a contract L-3
awarded LaBarge last spring, and expands the company's involvement in
the program to the production of higher-level electronic assemblies.