News
HELSINKI, FINLAND – Industry reports indicate Elcoteq is in final talks to acquire Taiwan's Arima Communications, which manufactures mobile handsets for Sony and LG Electronics, among others.
Industry sources claim an announcement can be expected once terms are finalized. However, Arima has denied a possible acquisition.
Stephen Hung, spokesman for Arima, said no talks were going on between the two companies, and Elcoteq spokeswoman Minna Aila reportedly declined comment, citing company policy not to comment on market rumors.
EMS provider Elcoteq, which builds for Nokia, among others, is reportedly interested in increasing its ODM capabilities. Arima has an R&D staff in its Taiwan and China locations.
Industry sources claim an announcement can be expected once terms are finalized. However, Arima has denied a possible acquisition.
Stephen Hung, spokesman for Arima, said no talks were going on between the two companies, and Elcoteq spokeswoman Minna Aila reportedly declined comment, citing company policy not to comment on market rumors.
EMS provider Elcoteq, which builds for Nokia, among others, is reportedly interested in increasing its ODM capabilities. Arima has an R&D staff in its Taiwan and China locations.
SALT LAKE CITY – CirTran Corp. has issued a promissory note for $315,000, the EMS company's second in the past month.
Under the terms of the April 7 note, the company received proceeds of $300,000 from Albert Hagar, to whom it will repay an aggregate of $315,000 within 30 days after demand is made for payment. CirTran president Iehab Hawatmeh gave a personal guarantee for the note.
It is the second time in a month the company has issued a $315,000 note. On March 31, CirTran issued five promissory notes for an aggregate indebtedness of $315,000 to five individuals.
For its 2007 fiscal year, CirTran reported a net loss of $7.2 million on revenues of $12.4 million.
TAIPEI – Foxconn Electronics reported first-quarter net profits rose 2.9% year-over-year to NT$16.07 billion (US$528.6 million), despite sales growth of more than 20%.
MONTREAL – Aim Solder named Michael Burgess strategic account manager, responsible for the company’s line of solder assembly materials. He will manage and coordinate all promotional, sales and customer support activities.
Burgess holds a degree in engineering and brings more than 17 years of industry experience, including stints at Cookson and PhotoStencil. He is based in Monument, CO.
Montreal-based Aim is a global manufacturer of assembly materials.
Burgess holds a degree in engineering and brings more than 17 years of industry experience, including stints at Cookson and PhotoStencil. He is based in Monument, CO.
Montreal-based Aim is a global manufacturer of assembly materials.
SAN JOSE, CA – Worldwide sales of semiconductors of $63.4 billion for the first quarter of 2008 were 3.8% higher than the same period last year, the Semiconductor Industry Association reported today.
SANTA ANA, CA – PCB manufacturer TTM Technologies Inc. reported first-quarter 2008 net sales of $174.1 million, up 3.9% year-over-year.
Net income was $14.4 million, up 21.5% compared to the same period last year, according to TTM.
Strong operating cash flow of $26.8 million enabled further pay down of debt associated with the Printed Circuit Group acquisition, the firm said. TTM paid down $10 million in debt during the first quarter, reducing the debt balance to $75 million.
“We delivered another quarter of solid financial performance, with the aerospace/defense end market showing improved strength, coupled with continued strong demand for our high-tech manufacturing services. Our results were above expectations, and we realized sequential improvement in net sales, gross margin and net income,” said Kent Alder, president and CEO of TTM.
TTM posted operating income of $24.4 million for the quarter, up 39.2% sequentially.
For the PCB manufacturing segment, first quarter net sales were $148.7 million, up a slight 0.8% sequentially.
TTM estimates second-quarter revenues in a range of $170 million to $177 million.
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