News
JASPER, IN – EMS provider Kimball International Inc. reported net sales of $338.2 million for the fourth quarter of fiscal year 2008, flat with the same period last year.
Gross profit was $57.9 million, down 16.1% year-over-year. The firm reported a net loss from continuing operations of $9.8 million.
YAVNE, ISRAEL – AOI equipment maker, Orbotech Ltd., has fired dozens of employees from its workforce of 800 in Israel, according to Global Online.
The firm’s LCD testing system division reportedly has been affected most because of canceled new projects.
According to the Israeli publication Global Online, the firm also will shut down its third-largest business: the IC division. The division reportedly will merge with the company’s largest division: printed circuits.
Orbotech employees 1,600 worldwide.
SAN JOSE – Tessera Technologies Inc., provider of miniaturization technologies, said Bruce McWilliams, its chairman, president and chief executive officer, has stepped down.
NUREMBERG and ARLINGTON, VA – Consumer electronics revenues in China are forecast to reach $100 billion by 2009, surpassing Western Europe and North America between 2009 and 2010, say market researcher GfK and the Consumer Electronics Association.
LONDON — The Cookson Group's first-half profits rose 30% to $225 million on a 26% jump in revenues to $2.1 billion.
The electronics group reported profits of $60 million, up 2%, year-over-year on an 11% hike in sales to $640 million. However, the higher revenue was driven by extreme price inflation for tin and silver used in solder. Excluding the inflation impact and sales of precious metals related products in the chemistry product line, underlying revenue fell 1% from last year.
All figures are based on constant exchange rates.
Cookson attributed the drop in revenue to a slowdown in electronics equipment production, particularly in the US, and a decision to focus on higher margin, more value-added product lines.
The company benefited from a new factory in Monterrey, Mexico, and demand for its scrap solder recycling operation in the US. A second recycling plant, in Guangxi Province, China, is expected to come online later this year. Cookson is also moving its European solder paste production from Ashford, England, to Hungary; the transfer should be complete by early next year and will save the company about $2 million annually.
BERWYN, PA – Tyco Electronics Ltd. is eliminating about 100 North American jobs, about half from two Pennsylvania facilities.
The firm cites diminished demand from the automotive and consumer appliance industries.
Workers from facilities in North Carolina, Michigan, Mexico and Canada also will be affected, said Tyco spokesman Mike Ratcliff, according to published reports.
The company plans to move some manufacturing from Harrisburg, PA to nearby Waynesboro, as well as Mount Sidney, VA.
The firm employs 92,000 globally and makes electrical components and telecommunications equipment.
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