RENFREWSHIRE, UK - Teknek has reportedly concluded arrangements with SDI, and the company reports that the two parties have reached an amicable settlement.

In a press release, Teknek has reported that the company will spearhead a new campaign to significantly grow its US presence.

According to the release, Teknek will open three facilities within the next few weeks, with one based in the US. "To ensure a truly global service we are developing three fulfilment centers, one in the USA, one in Europe and the other in our Hong Kong facility." commented Teknek CEO Stephen Mitchell.

The company reports that it will launch a new Surface Mount Clean Machine designed to improve yields in EMS applications. "Our new Surface Mount machine has some unique design features, but its most important feature is its performance. Major customers report as much as an 80% reduction in Tomb stoning - that’s payback within months," reports Mitchell. According to the company, its operations have recently adopted the Lean Thinking philosophy, and the company's Surface Mount Clean Machine will reportedly be available on a 10 day lead time.

SEOUL, KOREA - LG Electronics has announced that its board has approved an agreement to exchange LG Electronics' PCB division with its affiliate LG Micron's plasma rear panel division. This restructuring agreement will reportedly improve efficiency and raise equity for both companies.

According to the agreement, the transfer and acquisition will take place on May 1 and will include assets, liabilities and human resources. Accounts receivable, accounts payable, and some real estate will be excluded.

LG Electronics sites the increased efficiency and cost effectiveness of producing both plasma display panels and rear panels together as its reason for the move. LG Micron will reportedly boost its efficiency as well, by producing components in house, once it acquires LG Electronics’ PCB division.

LG Electronics is the largest stockholder of LG Micron. This agreement will increase LG Electronics’ stake in the LG Micron from 36% to 55%t.

On May 1, LG Electronics will transfer $141.1 million of assests to LG Micron, which includes two PCB manufacturing facilities in Chungju and Osan, Korea, as well as property, equipment and machinery.

The agreement will be brought before shareholders of LG Electronics and LG Micron at respective shareholder meetings for approval.