Electronics Production | January 14, 2009
Flextronics CEO McNamara comments on Nortel exposure
Mike McNamara, Flextronics CEO provides business update following Nortel bankruptcy announcement earlier today.
Flextronics has been proactively engaged in executing a risk mitigation plan with respect to its relationship with Nortel for a period of several months. In December 2008, Flextronics engaged The Blackstone Group as its financial advisor to assist with evaluating the Nortel relationship and planning for any Nortel restructuring strategy. As part of its risk mitigation plan, Flextronics entered into an amendment to its relationship agreement with Nortel to address Flextronics's status as a strategic supplier. "Flextronics has been working to reduce its exposure to Nortel for some time now. During our November 2008 Analyst and Investor Meeting, I discussed in detail that Flextronics has organizationally aligned its operating and capital resources in such a way to mitigate the impact of business changes of any one customer," said Mike McNamara, Flextronics CEO. "We believe that Flextronics's strategy of customer and market diversification will continue to allow us to be in a position to weather economic volatility. We will be addressing the specific financials related to the Nortel business on our upcoming earnings call, and I want to emphasize that one of our strengths has been and continues to be our ability to adjust to market and customer changes such as those we've realized today."
NOTE continues to expand within medtech One of EMS provider NOTE’s Swedish manufacturing plants has received a first order of SEK 25 million (EUR 2.34 million) from a Swedish customer within the medtech segment. Delivery is scheduled for 2020.
Marvell layoffs in VT, NC and CA Days after the close of the acquisition of Avera Semiconductor on November 5, Marvell Semi filed a WARN notice with the State of Vermont, ahead of 78 permanent layoffs at its Essex Junction facility.
U.S. DoC extends Huawei license The United States Dept. of Commerce, through its Bureau of Industry and Security (BIS), has announced a 90-day extension of the temporary general license (TGL) to Huawei and certain non-affiliates.
Apple: Shovels up in Austin As part of its expansion plan in Texas, Apple has announced the beginning of construction at its new campus in North Austin.
Sponsored content by Z ElektronikaZ Elektronika opens new factory in Pécs To keep up with rapid growth of the company, on the 13th September Z Elektronika celebrated the grand opening of its new electronic design and manufacturing facility close to the highway in Pécs, Hungary, which adds new features and production site to its nearby location.
PARPRO makes NA capex investments Southern California-based PARPRO has made capital equipment investments scheduled to be operational this quarter at the company’s Mexico and California facilities.
Indium Corporation is ready for 2020 Chris Nash from Indium Corporation reviews 2019 - in many ways, a strange year. However, even with the geopolitical issues that the year has offered, Indium has done a good job staying on top of things.
Schmoll Maschinen GmbH settles for a record year Schmoll's soaring results for 2019 is tied to the high level of globally deployed machines, where Asia takes the lead.
Arch Systems partners with Flex for manufacturing data transformation Arch Systems, a provider of a machine-data-sensing platform, has entered into an agreement with global manufacturer Flex to supply real-time access to and analysis of manufacturing data at its facilitie
Sponsored content by EsemdaContract manufacturer Esemda opens new facility in Vilnius and expands EMS The new facility has been built with reserved space for future expansions. As Esemda constantly grows, it is of great importance to be able to rapidly increase production capacity in large volumes.
ZF and Wolong Electric form JV for electric motors ZF Friedrichshafen and China’s Wolong Electric Group are stepping up their existing cooperation. The two companies have signed an agreement to establish a joint venture that will produce components and electric motors for automotive applications.
Cicor on its venture into printed electronics In the first quarter of 2019, Swiss EMS provider, Cicor, opened a technology center for printed electronics at the Bronschhofen site in Switzerland - quite the investment and a completely new territory for the company. Evertiq had the opportunity to talk to Karl-Heinz Fritz, VP of Technology, about the strategy behind this.
TT Electronics steps up its US presence – acquires Excelitas unit TT Electronics has struck a deal to acquire a US based business that designs and manufactures power electronics for defence and aerospace markets, enhancing its ability to engineer complete power converters.
ABB partners with Exeger to speed up transition to clean energy ABB has entered into a new partnership with Sweden’s Exeger Operations AB. The partnership will enable Exeger to enhance the production quality its photovoltaic material at the company's Stockholm factory and also develop automation solutions for its new fully automated factory which will begin construction in the near future.
Rehm Thermal Systems intros 3-in-1 reflow solution Michael Hanke from Rehm Thermal Systems shows off the results of the company's development work.
Intel to reclaim No.1 semiconductor supplier ranking in 2019 IC Insights says that only three among the top-15 semiconductor suppliers are forecasted to show growth this year.
Veoneer joins Autonomous Vehicle Computing Consortium Veoneer has joined the Autonomous Vehicle Computing Consortium (AVCC) to speed autonomous driving vehicle development.
Ongoing trade issues have opened up Chinese market for Viscom According to Carsten Salewski, Chinas move towards more independence has resulted in more customers from the region; especially within the automotive sector.
Don't forget about human inclusion in industry 4.0 Michael Ford from Aegis Software is reminding the industry in the midst of connectivity that our most powerful asset is still the human employee.
East West Manufacturing acquires Adcotron EMS East West Manufacturing has acquired Adcotron EMS, a provider of specialized electronics manufacturing services, including advanced printed circuit board assemblies, box-build assemblies, testing, and new product introduction services.
Benchmark's Thailand facility earns MedAccred PCBA accreditation The EMS provider announces that its facility in Ayutthaya, Thailand has earned the MedAccred Printed Circuit Board Assembly accreditation.
HZO unveils larger HQ in North Carolina HZO, known for protective nano coatings designed to help electronics withstand corrosive liquid environments, held an open house at its new headquarters in Raleigh, North Carolina this week.
Luminator Technology relocates some production to Texas Luminator Technology Group has relocated production of its Apollo Video Technology RoadRunner mobile video security solutions to Luminator’s headquarters in Plano, Texas.
Kurtz Ersa invests heavily in development to stay on top With more than 30 percent of its employees involved in research and development, the company is making sure that it is able to respond to its customers needs at all times.
BMW's new battery cell centre to handle everything from material to prototyping The BMW Group is looking fortify its position in the world of electric mobility and has pooled its many years of experience with battery cells and extensive knowledge in the field in a new Competence Centre.Load more news