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TEMPE, AZ -- Three-Five Systems Inc. has filed a joint plan of reorganization with its wholly owned subsidiary, TFS-DI Inc. in their respective bankruptcy cases.

The plan proposes a reorganization of both companies into a single post-bankruptcy entity.

If approved, the reorganized TFS's operations will be limited to the liquidation and monetization of all its non-cash assets. These assets comprise the cash and non-cash assets of the two companies, which will be substantively consolidated under the plan, TFI said in a filing.

The company anticipates that sufficient cash will exist in the consolidated estate on the plan's effective date to pay all claims of all creditors in all classes and that there will be final cash distributions to company shareholders.

NORTH BILLERICA, MA -- BTU International Inc. has decided on Shanghai as its new Asia-Pacific headquarters.

The company also named Boris Mathiszik director of sales for the Asia-Pacific region. Mathiszik was vice president, x-ray inspection at Phoenix/X-ray Systems.

ELM CITY, NC – Following a late December fire that devastated its manufacturing plant, Fawn Electronics has relocated into a temporary site in Wilson, NC, where it is performing final integration while working feverishly to reestablish full production.

Early in the morning of Dec. 22, fire ripped through the company's plant in Elm City, destroying much of it. The fire has been ruled accidental. Work has been subcontracted while the new site is brought online.

HALF MOON BAY, CA -- Attendees on the second day of the SEMI Strategic Materials conference learned how Japanese materials suppliers joined together to cut costs, and were given an optimistic outlook on the convergence of front-end and back-end processes in chip making.

Yoshifumi Kawamoto, director general manager, R&D department, CASMAT, outlined the formation of the R&D consortium established in 2003 by Japanese materials suppliers. Member companies include JSR, Sumitomo Chemical, Sekisui Chemical, Tokyo Ohka Kogyo, Nitto Denko, Hitachi Chemical, Toray Industries and others.

BEIJING -- China imported more than $19 billion worth of technology last year, up 37.5% over the previous year and setting a new record.

More than 43%, or $8.27 billion, of the total import value of technology came from foreign enterprises operating in China. That’s up 23.6% from 2004.

Trenton, NJ – Tyco International Ltd. has confirmed its plan to split into three public companies. Electronics and healthcare units will be spun off from the remaining operations (which include security and fire-protection services) during the first quarter of 2007. Tyco expects about $1 billion in costs for tax liabilities and the refinancing of debt.

“We believe separation is a logical next step in Tyco's solution,” said Ed Breen, chairman and chief executive, during a conference call with analysts and investors. “The biggest issue to me actually was growth. That's really the thing we looked at.”