FRANKFURT, GERMANY -- ESO Capital Group (“ESO”) has completed the acquisition from the Administrators of Mania Technologie AG, Mania Deutschland GmbH and Mania Entwicklungsgesellschaft mbH. The divisions acquired include the Outsourcing Business of the Mania Group ("Mania") in the United States of America, Canada, Japan, Taiwan, Hong Kong, China and Singapore, the Software and Plotters Businesses of Mania Belgium NV (the “Business” or “New Group”). Completing these acquisitions removes these businesses from the insolvency proceedings. A name for the New Group will be announced shortly.
The New Group holdings includes 500 jobs. The New Group is well capitalized, unlevered and financially sound. ESO will continue to work closely with management to resolve outstanding issues resulting from the insolvency of Mania.
MELVILLE, NY– Patrick Crowley has been appointed president of Nelco Products Pte. Ltd., the high-technology electronics circuitry materials and advanced composite materials subsidiary of Park Electrochemical Corporation located in Singapore.In addition, he will also serve as president of Nelco Technology, Park’s ECM subsidiary in China. Prior to his latest appointment, Crowley served several key positions within Park’s subsidiaries, including president of Neltec and Neltec Europe, as well as operational managerial and sales positions with several electronics manufacturing companies. Margaret M. Kendrick will succeed Crowley has president of Neltec, Inc.
CHINA and TAIWAN– Despite the uneasy growth in the copper clad laminate (CCL) industry this year, Elite Material (EMC) is predicting strong sales through October as a result of growing capacity contributions from its plant in Kunshan, China. Expansion and new orders have allowed the Kunshan plant to maintain strong sales, with a utilization rate of 80%. EMC is also expanding its Zhongshan plant to increase capacity from 250,000 sheets to 600,000 sheets. August sales at the company’s plant in Hsinchu, Taiwan, were up by 9.2% as a result of orders from new customers including LG, Unimicron Technology and Compeq Manufacturing. September sales are expected to reach $1 billion.
BEAVERTON, OR– Merix Corportion has received MIL-PRF-31032 certification for its factory in San Jose, CA. Merix was awarded the certification, establishing strict performance and verification requirements, in recognition of its advanced quality management and production systems that either meet or surpass the government standard. The company sees this as an opportunity to continue to increase their product portfolio in the strategic defense and aerospace segment.
SANTA CLARA, CA– Hunter Technology Corporation and Hallmark Circuits, Inc. have embarked on a joint market campaign in which both companies will fall under one sales and marketing group, headed by Mike Kadlec. The partnership allows Hunter to continue to expand their vertically integrated EMS model, while Hallmark customers will benefit from design in-sourcing capabilities and end-to-end electronic manufacturing services.
BANGALORE– To meet the increasing domestic and export demand, CIPSA-RIC has commissioned a PCB manufacturing plant to be constructed on 12 acres in Tumkur, India. The plant will employ 1,000 workers and will produce double-side, single-side and multi-layer PCBs. The company hopes to achieve $50 million in exports by 2010 and be able to compete with China in the global market by supplying shorter delivery cycles and better prices. Currently, India’s domestic consumption of PCBs is reported at $2 billion, with a production capacity estimated at $300 million—indicating potential for import-substitute manufacturing.
