Electronics Production |
Gold pressures Tyco’s connector business
Tyco Electronics has been hit hard by the rising cost of gold prices especially because the company buys a lot of gold for its connector business unit.
For some time Tyco has been buying gold at spot market prices to use in its production of connector products. However the good news for Tyco is that the anticipated demand and a better product mix is helping offset a continued rise in raw material costs, said Shawn Harrison, a senior research analyst at Longbow Research to Forbes. Tyco Electronics posted a profit in the third quarter.
