Electronics Production | April 22, 2009
Flextronics, Jenoptik exposed to Asyst bankruptcy protection
Semiconductor- and flat panel equipment maker Asyst Technologies, Inc., has filed a voluntary petition under Chapter 11 of the U.S. Bankruptcy Code.
The company's Japanese subsidiaries, Asyst Technologies Japan Holdings Company, Inc. and Asyst Technologies Japan, Inc., earlier today entered into related voluntary proceedings under Japan's Corporate Reorganization Law (Kaisha Kosei Ho). Over the past several months, the company has undertaken significant efforts to reduce its expense structure and working capital requirements in response to these unprecedented conditions. However, recent delays in customer projects and related cash collections, a constriction in available borrowing from lenders, acceleration of vendor payment obligations, and inability to generate sufficient cash flow or identify new sources of liquidity have caused the company to seek bankruptcy protection in order to be better able to manage its operations through a restructuring process. According to a report by Interactive Investor, Flextronics Manufacturing Ltd is Asyst Technologies’ largest unsecured creditor, with a claim of $3.3 million. Also Germany based Jenoptik has unsecured claims of $515,000 or less.
NCAB appoints Peter Kruk as new CEO Following the announcement late last year that Hans Ståhl planned to retire in 2020, the board of NCAB Group has now found his successor. Peter Kruk will be taking over as the new CEO of the PCB supplier.
Comtech Telecomm Corp. issues business update New York-based Comtech Telecommunications Corp. has issued a statement on the withdrawal of its business outlook for its fiscal year ending July 31, 2020, as well as an update on its proposed purchase of the Gilat Satellite Networks Ltd.
Xerox provides HP acquisition update Xerox has issued a statement regarding its earlier proposal to buy HP Inc.
As Samsung Display exits the LCD market a major reshuffle is expected According to the latest investigations by the WitsView research division of TrendForce, the oversupply of TV panels in 2019 resulted in a major price drop. As such, panel manufacturers hoped to utilise their excess capacity in 2020 through increasing their production of monitor panels, with Samsung Display (SDC) having the most extensive plans.
Swedish PCB manufacturer updates machine park PCB manufacturer MMAB’s factory in the south of Sweden recently got a new drilling area with updated machines.
Ventec races to build up regional inventories to fight COVID-19 The electronics industry is playing a major role in supporting increased requirements for critical medical devices during the current COVID-19 pandemic. And with that an increase in demand of the building blocks is to be expected.
Elmatica sees a spike in demand - responds with growth in staff Growing demand, new customers and an increase in business within knowledge intensive industries, has reinforced the need for another Country Manager in Poland, a new Technical Manager and an additional resource in the Customer Service Department.
Co-operation negotiations completed at Etteplan Etteplan initiated co-operation negotiations on March 18th 2020 due to temporary changes in customer demand caused by the COVID-19 pandemic. Now, the negotiations have come to a complete.
Indian electronics company support the fight against COVID-19 Indian engineering and technology solutions company, Cyient, says it’s received clearance for its Mysore facility to run its MedTech manufacturing lines to support the production of medical equipment critical in the fight against COVID-19
Tesvolt kickstarts production at new German factory Semi-automated production began today in Europe’s first gigafactory for commercial battery storage systems, located in Wittenberg, Germany.
Global semiconductor materials market revenues slip 1.1% in 2019 Global semiconductor materials market revenues edged down 1.1% in 2019, SEMI reported in its Materials Market Data Subscription (MMDS).
Cirexx Int’l posts COVID-19 update Santa Clara, California-headquartered Cirexx International has released a statement penned by President and CEO Philipp Menges concerning status of operations during the coronavirus pandemic.
Abbott gets OK for fast, portable COVID-19 test Abbott has been granted emergency use authorization (EUA) from the U.S. Food and Drug Administration (FDA) for a rapid molecular point-of-care test for the detection of novel coronavirus (COVID-19).
COVID-19 limits viability for AT&S Considering current events and the effects that the global pandemic is having on logistics and production chains worldwide, AT&S is preparing itself for a decline in demand in some of its customer segments.
Neways provides update on COVID-19 impact The EMS provider says it has taken various measures to limit the risks to the health of its employees, as well as its clients and suppliers. In addition, the company has taken measures to safeguard business continuity.
Samsung Display plans to stop all LCD production in 2020 The South Korean company has reached the decision to end all of its production of LCD panels in its home country and in China by the end of 2020.
Orbit One updates machine park with new selective soldering machine Swedish EMS provider, Orbit One, has invested in a new ERSA selective soldering machine for the production unit in Ronneby, Sweden.
ZOLL pivots to focus on volume for ventilator production Massachusetts-based ZOLL Medical Corporation has shot capacity up to 10,000 ventilators per month in response to the COVID-19 pandemic, representing a nearly 25-fold increase from normal volume production.
Computrol ramps output for ventilator production As the coronavirus pandemic continues its spread through the U.S., Idaho-based Computrol is joining a growing list of electronics manufacturers who are adjusting operations to support companies producing critical healthcare products.
ABB adding jobs, new distribution center in Arizona ABB has announced the creation of a new distribution center in Phoenix, in a move that will bring the company closer to Western U.S. distributors, contractors, industrial customers, and retailers.
8% growth in 2019 drives tenth consecutive year of EDA growth The Electronic System Design (ESD) Alliance Market Statistics Service (MSS) says that the Electronic Design Automation (EDA) industry revenue increased 2.2% for Q4 2019 to USD 2626.3 million, compared to USD 2570.1 million in Q4 2018.
Polestar 2 production begins in Luqiao, China Production of Polestar 2 has officially begun in Luqiao, China. The new electric performance fastback is the first electric vehicle to be produced by the facility.
Kimball Electronics updates on the impact of COVID-19 COVID-19 has disrupted the company’s global operations since its initial outbreak. While Kimball Electronics' facilities in China were initially adversely impacted, they have now resumed normal operations.
First Solar says that it's still operational First Solar says that its manufacturing operations will continue at each of the company’s Wood County, Ohio, Kulim, Malaysia and Ho Chi Minh City, Vietnam facilities at this timeLoad more news