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Fab News

Details: Written by Staff; Category: Fab News; Published: 09 May 2008

SINGAPORE - Flextronics has announced that it has completed its acquisition of the FRIWO Mobile Power (FMP) business unit of CEAG AG, a manufacturer of power supplies and chargers for mobile telephones. FMP will be incorporated into Flextronics' power supply division.

"The acquisition of the FRIWO Mobile Power Business unit substantially expands our power supply capability and…this acquisition broadens our relationships with mobile phone OEMS, enhances our global reach and adds vertical integration capabilities. On behalf of Flextronics, I would like to welcome the FMP team to our organization," said Bob Roohparvar, president of Flextronic subsidiary Vista Point Technologies.

The acquisition will reportedly add approximately 18,000 employees and 700,000 square feet of manufacturing capacity in China.

Details: Written by Staff; Category: Fab News; Published: 09 May 2008

LISLE, IL - Molex, Inc. has announced that it has signed an agreement to acquire a manufacturer of flexible printed circuitry (FPC) based in Asia.

Details: Written by Staff; Category: Fab News; Published: 08 May 2008

SCARBOROUGH, ONTARIO - Milplex Circuit of Canada in Scarborough, Ontario has announced the appointment of Damon DeSilva as national sales manager.

In his new position, DeSilva will report directly to the company president and will be responsible for all outside sales for the company, including the managing of the independent rep sales network.

Natu Patel, company president commented, "We are pleased to have Damon on board with us. He comes with years of experience in the PCB industry including many years of [customer service] experience. We consider his appointment a true shot in the arm to our recently renewed and invigorated sales and marketing effort.

Previously, DeSilva has been on the executive teams of ITL, Lazer Tech, and most recently Sanmina-SCI.

Details: Written by Staff; Category: Fab News; Published: 08 May 2008

TORONTO, ONTARIO – Coretec Inc. has reported its financial results for the first quarter ending March 31.

Coretec reported revenues of $18.5 million in the quarter ended March 31, 2008, an 18.9% decrease over the prior year period revenue of $22.8 million and a decrease sequentially of 2.2% from Q4 2007.

Gross profit in the quarter was 15.4% of sales compared to 20.3% in the prior year period and 16.1% in the fourth quarter of 2007. Net loss for the quarter was $1 million compared to a net loss of $0.6 million for the same period in 2007.

Sequentially, the company showed a net increase of $0.4 million as compared to a net loss of $1.4 million in the fourth quarter of 2007.

"Softness in order activity levels from Q4 carried into January and February at all sites as well as in the company's offshore business. The major contributor to the… compression of our revenues was the change in the US dollar [to] Canadian dollar exchange rate. In Q1 we estimate that the impact to revenues of the change in the value of the US dollar relative to the Canadian dollar was in excess of $3 million when compared to the first quarter of 2007. As a result we have undertaken measures on both the revenue generation and cost effectiveness fronts to enable us to overcome this challenge", said Paul Langston, CEO.

"From a cost perspective, we implemented a staff reduction in our Toronto operations in February 2008 that will realize savings of $0.3 to $0.4 million per quarter. Also noteworthy is the manufacturing and planning yield improvements, which we have made at each of our sites. This combined with utility conservation initiatives as well as tight controls with respect to other labor costs we believe will result in improved financial metrics in subsequent quarters," added Langston.