News
MUNICH -- Guenter Lauber has been named president of Siemens Automation & Drives's electronics assembly systems division.
He succeeds Tilo Brandis, who will move to the U.S. to become president of PLM software supplier UGS, which Siemens acquired last quarter for $3.5 billion.
He succeeds Tilo Brandis, who will move to the U.S. to become president of PLM software supplier UGS, which Siemens acquired last quarter for $3.5 billion.
PEMBROKE, BERMUDA – Tyco International Ltd. today announced it will establish nearly $3 billion in a cash fund for payment of plaintiffs’ claims in the consolidated securities class action cases, involving former executives, including ex-CEO Dennis Kozlowksi. The settlement is subject to court approval.
SPOKANE, WA – EMS provider Key Tronic Corporation announced that it completed the sale of its Las Cruces, New Mexico facility on May 11 with Adevco Corporation.
The total sale price was approximately $4.3 million.
Key Tronic received approximately $2.8 million in cash and a $1.5 million note. The note is for excess land covered by a flood zone designation.
SHANGHAI – Semiconductor Manufacturing International Corp. of China has signed letters of intent to purchase close to $2 billion worth of semiconductor manufacturing equipment from U.S. vendors over three-year periods.
SMIC participated in the signing ceremony of contracts and agreements between U.S. and China companies at the U.S-China Hi-Tech Cooperation Forum held in San Francisco.
The company signed six LOIs outlining plans to purchase equipment from U.S. vendors, including Applied Materials, Axcelis, KLA-Tencor, Lam Research, Novellus and Varian Semiconductor.
MELAKA, MALAYSIA – Goh Seng Chong and a Singaporean group have made a $40 million bid for Cubic Electronics, a manufacturing segment of Creative Technology Ltd.
Goh, former VP and GM of Cubic Electronics, and his partner have acquired 80.1% interest and control of the company.
Cubic is the largest manufacturing facility for Creative Technology with 1.2 million sq. ft. and approximately 2,500 employees.
Acquisition reportedly should be completed by the end of May.
SINGAPORE − Advanced Interconnect Technologies, a provider of semiconductor assembly and test services, announced that it has received JEDEC approval for its QFN-style Etched Leadless Package.
AIT’s patented ELP is a Quad Pb-free staggered and inline multi-row package with metallized terminals along the edges of the bottom surface. The package is offered in two- or three-row configurations. ELP reportedly offers a small footprint, low cost and design flexibility for higher I/O count.
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