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Market News

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WASHINGTON -- A House committee has approved a funding bill for research into ways to cut electronics waste and mitigate its environmental impact.

The Science and Technology committee bill proposes spending $60 million from fiscal 2010 to fiscal 2012 for EPA grants to increase electronics waste collection and recycling rates. The bill would also fund research on separating hazardous materials from e-waste and designing longer-lifespan devices.

While the funds would go to the EPA, it is unclear how the monies would be further dispersed. However, about $15 million would go to the National Science Foundation to fund e-waste curricula at universities.

The bill is backed by companies like Best Buy, which currently takes back certain electronics such as PCs, and various lobbying groups such as the Electronics TakeBack Coalition.

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BEIJING – According to the National Bureau of Statistics (NBS), profits of China's major industrial enterprises contracted 37.3% year-over-year during the first two months of 2009.

Profits of companies with an annual income exceeding 5 million yuan ($0.74 million) fell 37.3% to 219.1 billion yuan ($32.33 billion), the NBS said.

The electronic and telecommunications equipment manufacturing sector reported the biggest drop among all 39 sectors, at 96.3%.

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BEIJING – A report by China's Ministry of Industry and Information Technology (MIIT) stated that China's mobile phone output had decreased by 11.2% for January and February 2009, year-over-year.

The MIIT cited that both manufacturing and export of China's electronics products had declined in this period.  In January and February 2009, the output growth rate of China's electronics industry decreased by 9.4% and export delivery value of the electronics industry decreased by 19%, year-on-year.

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TORONTO – Coretec Inc. reported fourth-quarter sales climbed 20.6% from last year to $22.8 million, on the weak Canadian Dollar. For the year, sales dropped 5.2% to $81 million, compared to $85.4 million in 2007.
 
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ARMONK, NY -- IBM will lay off 5,000 workers in its services divisions in the US, the Wall Street Journal reported today, citing an IBM manager.
 
Workers will be informed today, the paper said. The company thus far has not commented.
 
IBM employs about 400,000 workers globally, 115,000 in the US

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HAVERHILL, MA and OHTSU, JAPAN -- DKN Research and NY Industries have developed a solderable thick film system for flexible substrates. A solderable thick film circuit is considered by many to be a breakthrough technology for printable flexible electronics.
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