News
DOWNERS GROVE, IL, and INDIANAPOLIS — Made2Manage Systems has paid $5 million cash to acquire Capri Corp., parent company of ERP software provider Cimnet Systems.
M2M president and CEO Jeff Tognioni said in a press release that the acquisition should help the company expand geographically and strengthen its presence in the PCB manufacturing sector.
Mehul Davé, president of Capri Corp., added that Cimnet customers should not experience any disruption in service delivery, customer support or training during the transition.
The Boards of both companies have approved the transaction, which is expected to close by the end of 2005.
Made2Manage Systems provides ERP solutions for manufacturers across multiple manufacturing industries in the U.S., Canada and UK.
M2M president and CEO Jeff Tognioni said in a press release that the acquisition should help the company expand geographically and strengthen its presence in the PCB manufacturing sector.
Mehul Davé, president of Capri Corp., added that Cimnet customers should not experience any disruption in service delivery, customer support or training during the transition.
The Boards of both companies have approved the transaction, which is expected to close by the end of 2005.
Made2Manage Systems provides ERP solutions for manufacturers across multiple manufacturing industries in the U.S., Canada and UK.
NEENAH, WI -- Plexus Corp. reported fourth-quarter
sales rose 18% to $322.2 million and net income of $10.5 million, reversing a net loss of $37 million last year.
For the fiscal year ended Oct. 1, the EMS firm showed a net loss of $12.4 million on revenues of $1.23 billion. Last year, Plexus reported and a net loss of $31.6 million on revenues of $1.04 billion.
For the fiscal year ended Oct. 1, the EMS firm showed a net loss of $12.4 million on revenues of $1.23 billion. Last year, Plexus reported and a net loss of $31.6 million on revenues of $1.04 billion.
SAN JOSE -- Sanmina-SCI
Corp.'s fourth-quarter profit grew to $15.1
million, despite a revenue slide of 16% to $2.77 billion over last year.
The company took $18.3 million in one-time charges for the quarter.
GREENVILLE, SC -- James P. McClintock resigned as head of business units and new business development of passives components maker Kemet Corp., effective Nov. 1.
The company did not disclose a reason in a press release issued Oct. 31.
On Oct. 26, Kemet reported a narrower quarterly loss.
McClintock is a former president and chief operating officer of the company. McClintock will receive separation pay of $320,000, a car allowance worth $6000, and health, life and disability insurance benefits for six months subject to certain terms and final agreement.
The company did not disclose a reason in a press release issued Oct. 31.
On Oct. 26, Kemet reported a narrower quarterly loss.
McClintock is a former president and chief operating officer of the company. McClintock will receive separation pay of $320,000, a car allowance worth $6000, and health, life and disability insurance benefits for six months subject to certain terms and final agreement.
HAUPPAUGE, NY -- RVSI Inspection, a maker of semiconductor and package
inspection gear, named Kevin Maddy president.
Maddy has spent 25 years in manufacturing, the past 14 in management. He has worked for Ford, Unisys, United Technologies, Howmet and SPX Corp., and played an active role in the turnaround and restructuring of Pratt and Whitney. During the past eight years, Maddy has focused on managing the turnaround of independent manufacturing facilities with sales under $200 million.
In a press statement, Maddy. said, “I am looking forward to utilizing my leadership and proven track record to help develop superior relationships with RVSI’s customers by delivering a quality product on time.”
Maddy has spent 25 years in manufacturing, the past 14 in management. He has worked for Ford, Unisys, United Technologies, Howmet and SPX Corp., and played an active role in the turnaround and restructuring of Pratt and Whitney. During the past eight years, Maddy has focused on managing the turnaround of independent manufacturing facilities with sales under $200 million.
In a press statement, Maddy. said, “I am looking forward to utilizing my leadership and proven track record to help develop superior relationships with RVSI’s customers by delivering a quality product on time.”
BOSTON -- A pair of leading makers of screen printers have signed a licensing agreement for a patented print head.
DEK will license its "ProFlow" enclosed print head technology to Ekra, for use in new machines. The deal is for five years, and financial terms were not disclosed.
The agreement also covers printers sold under the Asys name. Asys purchased Ekra earlier this year.
DEK will license its "ProFlow" enclosed print head technology to Ekra, for use in new machines. The deal is for five years, and financial terms were not disclosed.
The agreement also covers printers sold under the Asys name. Asys purchased Ekra earlier this year.
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