News
ST. PETERSBURG, RUSSIA -- A Russian news site is reporting a top Foxconn official acknowledged that company's plans to expand in St. Petersburg but declined to provide specifics.
According to CNews today, Foxconn Rus director general Andrey Korzhakov said the EMS company is a development center in Novo-Orlovsky.
As reported by Circuits Assembly, the company bought 12 hectares of land outside the St. Petersburg suburb of Kolpino last month on which it plans to build a PC assembly plant.
According to CNews today, Foxconn Rus director general Andrey Korzhakov said the EMS company is a development center in Novo-Orlovsky.
As reported by Circuits Assembly, the company bought 12 hectares of land outside the St. Petersburg suburb of Kolpino last month on which it plans to build a PC assembly plant.
PENANG -- Motorola is fighting allegations it broke Malaysian laws and engaged in kickbacks in exhange for large government contracts. The company and key government officials are strongly disputing the accusations, which have been brought by political opponents.
At issue is a roughly $313 million government contract the Malaysian government contract awarded to Motorola, with the understanding the telecom giant would remain in the country. Motorola has extensive manufacturing and R&D operations in Malaysia, where it employs about 10,000 workers, including 4,000 in Penang.
At issue is a roughly $313 million government contract the Malaysian government contract awarded to Motorola, with the understanding the telecom giant would remain in the country. Motorola has extensive manufacturing and R&D operations in Malaysia, where it employs about 10,000 workers, including 4,000 in Penang.
WASHINGTON -- A pair of provisions of the Economic Stimulus Act of 2008 signed into law
Feb. 13 by President Bush provide
significant benefit to manufacturing companies.
The new law nearly doubles the amount of deductible Code Sec. 179 expensing for 2008, to $250,000, and increases the threshold for reducing the deduction to $800,000. It applies to property purchased and put into service in the tax year beginning in 2008. This would benefit businesses purchasing equipment.
The law also provides a temporary bonus depreciation aimed at encouraging business investment. Property must be eligible for the modified accelerated cost recovery system, with a depreciation of 20 years or less, and must be purchased and placed in service during 2008. The new law provides taxpayers a 50% first-year bonus depreciation of the adjusted basis of the property.
The new law nearly doubles the amount of deductible Code Sec. 179 expensing for 2008, to $250,000, and increases the threshold for reducing the deduction to $800,000. It applies to property purchased and put into service in the tax year beginning in 2008. This would benefit businesses purchasing equipment.
The law also provides a temporary bonus depreciation aimed at encouraging business investment. Property must be eligible for the modified accelerated cost recovery system, with a depreciation of 20 years or less, and must be purchased and placed in service during 2008. The new law provides taxpayers a 50% first-year bonus depreciation of the adjusted basis of the property.
BRUSSELS -- A consultant for the European Union has identified more than 45 substances not currently covered by RoHS laws for possible inclusion in new draft rules expected to be ready next month.
The EU review of the RoHS Directive could lead to an expansion of the scope of covered substances and the list of covered electronics, industry sources say, and some current exemptions could be revoked.
The EU review of the RoHS Directive could lead to an expansion of the scope of covered substances and the list of covered electronics, industry sources say, and some current exemptions could be revoked.
GLENVIEW, IL – Illinois Tool Works’ power systems and
electronics group reported sales rose 6.1% year-over-year for the period ended
Feb. 29. Meanwhile, speculation abounds over a possible acquisition of a leading soldering equipment OEM.
LONDON -- EMS provider TT Electronics reported earnings rose 7% last year on a 1% hike in sales for the year ended Dec. 31.
Pre-tax profits from continuing operations were up 6.7% to £33.3 million, before one-time profits in 2006. Sales hit £544.9 million.
The company cautioned for the 2008 outlook. “While current trading is expected to remain overall similar to 2007, the further reorganization of operations, difficulties in the credit markets and concerns as to the effect on the global economy causes the board to take a cautious view for the current year,” said executive chairman John Newman.
During the year, TT's pension fund deficit was reduced to £17.4 million from £72.6 million a year ago.
Pre-tax profits from continuing operations were up 6.7% to £33.3 million, before one-time profits in 2006. Sales hit £544.9 million.
The company cautioned for the 2008 outlook. “While current trading is expected to remain overall similar to 2007, the further reorganization of operations, difficulties in the credit markets and concerns as to the effect on the global economy causes the board to take a cautious view for the current year,” said executive chairman John Newman.
During the year, TT's pension fund deficit was reduced to £17.4 million from £72.6 million a year ago.
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