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Speaking of this Week — December 19, 2003
December 31, 1969 |Estimated reading time: 3 minutes
By Christine F. Della Monaca
Speaking of this Week reflects on events in the electronics assembly industry every Friday.
With the end of the year and the big year-end holidays staring us right in the face, you'd think news would disappear faster than the holiday cookies on the counter in the office. You'd be wrong. We've got tons of progress news, some acquisition news, financial reports, personnel announcements and looks at tradeshows past and future. Read on:
- Progress news dominates: According to the second EU Lead-free Soldering Technology Roadmap published by UK-based Soldertec Global, the end of 2003 requires every electronics manufacturer to have released at least one lead-free product in the European market. Meanwhile, Hudson, N.H.-based Vectron International has been presented the "Partners in Performance" award by Singapore-based Celestica Inc., while San Diego-based KIC shipped serial number 2,500 of its continuous thermal monitoring system. Stamford, Conn.-based FEINFOCUS completed a custom installation for Lexington, Mass.-based Raytheon's Reliability Analysis Laboratory, while Elkhart, Ind.-based CTS Corp. announced that a major international automotive manufacturer selected CTS Automotive Products as its sole supplier of active manifold actuators for a new family of engines. Finally, in the good news/bad news category, Myrtle Beach, S.C.-based AVX Corp. announced this week that its sales are expected to exceed previous estimates for the December 31 quarter. Earlier in the week, the company announced it would close its ferrite facility in Taiwan, which will cost the company between $5 and $6 million.
- Company partnerships and mergers: Kenosha, Wis.-based Pro-Mation Inc. formed a distributorship relationship with The Netherlands-based ADEON Technologies NL, while Phoenix-based Duraswitch executed a license agreement with Moscow-based Elcom. In merger news, Chase Corp. announced the sale of its West Bridgewater, Mass.-based Sunburst Electronics Manufacturing Solutions Inc. subsidiary to the Edward L. Chase Revocable Trust. East Pittsburgh, Pa.-based Pinnacle Point-of-Sale, a subsidiary of Pinnacle Electronics, bought certain assets of Aspeon Inc., including the technology for the Javelin point-of-sale products Pinnacle has been manufacturing since July. Finally, Natick, Mass.-based Cognex Corp. acquired the machine vision business of Aachen, Germany-based Gavitec AG.
- Financial announcements and results: El Segundo, Calif.-based International Rectifier Corp.'s Board of Directors approved an amendment to the company's Certificate of Incorporation (which still has to be approved by stockholders in late January 2004) to increase the authorized number of shares of common stock from 150 to 330 million. And Philadelphia-based Technitrol Inc. updated its 2003 guidance to reflect somewhat-higher shipments at Pulse, its electronics components and modules segment, and lower volumes at its AMI Doduco electrical contacts, contact materials and contact assemblies unit in North America and Europe. Looking ahead to 2004, the company expects 6 to 8 percent higher revenues at Pulse year-over-year, and similar increases at AMI Doduco.
- Quick roundup of personnel news: Milpitas, Calif.-based Solectron Corp. appointed Dave Purvis as executive vice president, worldwide design and engineering services; Xcel Energy president Patricia K. Vincent will join the Board of Directors for CTS Corp.; and Lake Success, N.Y.-based Park Electrochemical Corp. has a new R&D director in "Gus" Karavakis.
- Finally, some tradeshow news: Alameda, Calif.-based Technology Forecasters Inc.'s Quarterly Forum on December 4 in San Jose dealt with new supply chain and outsourcing practices. And Northbrook, Ill.-based IPC — Association Connecting Electronics Industries announced the technical conference sessions at APEX/Printed Circuits Expo/Designers Summit, which will take place in late February in Anaheim.
This just in: According to this week's Quick Vote, 56 percent of your companies go on shutdown for the holidays, while 44 percent do not.
NOTE: Speaking of this Week will not appear on Friday, December 26, due to the Christmas holiday. Look for a special year-end version on Wednesday, December 31.
Have some insight on the industry? See something you don't agree with? Think I'm right on? Send it all to me at mailto:christinef@pennwell.com.