© tom_schmucker-dreamstime.com PCB | July 05, 2013
Aspocomp battling old bankrupcy ghost
Aspocomp writes off approximately EUR 0.9 million of its former French subsidiary’s bankruptcy-related provision for closure expenses.
The provision is written off as according to the French legislation, possibility to file new claims related to the case expired in June 2013. According to information received by Aspocomp no new claims have been filed and therefore the related provision can be written off. Aspocomp’s French subsidiary went bankrupt in 2002. As a result of disputes related to the bankruptcy the French Supreme Court finally ordered the company to pay approximately EUR 11 million to former employees of the subsidiary. The company made the payment in 2007. Between January 2009 and September 2012 the Labor Court of Evreux and the Court Appeal of Rouen, France, handed down several rulings whereby the company is obligated to pay approximately EUR 0.7 million plus legal interest to 20 former employees of the subsidiary. The company has entered into settlement agreements with seven of the aforementioned 20 former employees. In addition, the company has appealed to the Helsinki Court of Appeal about the Helsinki District Court's judgment in which the decision of Court of Appeal of Rouen concerning the 13 former employees was confirmed to be enforceable in Finland. Aspocomp considers the decision to be against Finnish public policy and demands that it will not be recognized. According to the company's current view, risks related to its former, bankrupt French subsidiary are limited to the aforementioned open appeal in relation to the 13 former workers’ compensation claims. The risk is estimated to be about EUR 0.8 million, including possible interest and legal costs of the opposing party. There is a provision equivalent to the risk in the company’s balance sheet and therefore there will be no profit impact should the risk realize.
EUV photoresist company Inpria raises $31 million in funding Inpria, a pioneer in high-resolution metal oxide photoresists for extreme ultraviolet lithography (EUV), has secured USD 31 million in Series C funding from a broad syndicate including two of the biggest names within the semiconductor manufacturing space.
Semiconductor industry avoids direct impact of coronavirus The semiconductor industry appears to have escaped the direct impact of the coronavirus crisis so far, but the market is likely to suffer the repercussions as the outbreak slows or suspends production among electronics manufacturers, according to Omdia.
Plessey partners with Axus Technology Plessey, an embedded technologies developer, is partnering with Axus Technology (Axus), a provider of CMP, wafer thinning and wafer polishing surface-processing solutions for semiconductor applications, to bring high-performance GaN-on-Silicon monolithic microLED technology to the mass market.
GPV Electronics CN resumes production On 19 February 2020, the Chinese Central Government informed that all enterprises in the Guangdong province are now allowed to resume production.
Nano Dimension moves its main commercial activity to USA Nano Dimension announces that the company is establishing its headquarters for the Americas in South Florida.
Rockwell Automation inks deal for Italy’s ASEM Rockwell Automation Inc. has signed a purchase agreement to acquire digital automation technologies provider ASEM S.p.A.
IFR releases ‘Top Trends 2020 Robotics’ The International Federation of Robots (IFR) has forecasted an uptick of 2 million industrial factory robotic units in the next two years.
Paslin, Rivian fuel EV factory expansion The Paslin Company, a builder of robotic assembly lines for Tier 1 suppliers and OEM auto companies, is expanding in Warren, Michigan.
Nokia plans to acquire US-based company The Finnish telecom company is planning to acquire Elenion Technologies, a U.S.-based company focusing on silicon photonics technology.
neutec electronic to handle Asymtek and Dima in Switzerland Asymtek, a part of Nordson Electronics Solutions - announces that their distributor, neutec electronic AG, has expanded its representation of all Asymtek and DIMA products to the French-speaking areas of Switzerland.
BMZ subsidiary Poland reports successful business year 2019 BMZ Poland, the second largest production site of the BMZ Group, is expanding its production area and is reporting 10% sales growth and thereby reached record results for the business year 2019.
Scanfil CEO: ‘Our operations are making good progress’ The last quarter of 2019 was the strongest one for the EMS provider. Scanfil recorded a turnover of EUR 155 million, a growth of EUR 15 million or 10% year-over-year.
Prime Technological Services acquire ITS EMS provider Prime Technological Services LLC has acquired Georgia-based I Technical Services (ITS).
Florida’s Sypris snags BAE Systems contract Sypris Electronics LLC, a subsidiary of Sypris Solutions Inc., has won a contract award from London-based BAE Systems’ Electronic Systems sector.
Into the future, San Diego style IPC APEX EXPO, the North American electronics manufacturing industry’s biggest gig, has left the teenage years behind with this year’s 20th anniversary show held Feb 3-8 in San Diego.
5 semiconductor companies hold 53% of global wafer capacity The world’s top-five wafer capacity leaders each had capacity of more than 1,000,000 wafer starts per month, says IC Insights.
Global DRAM revenue holds steady in 4Q19 The DRAM inventory finally returned to a relatively normal level for most OEMs in 4Q19 after nearly three consecutive quarters of adjustments, says the DRAMeXchange research division of TrendForce.
Mitsubishi Electric completes new satellite production facility Mitsubishi Electric has completed construction of a new facility for the production of satellites at the company’s Kamakura Works in Kamakura, Japan.
ISS-Broadband delivered by Kongsberg Kongsberg equipment is to enable broadband transmission for the International Space Station (ISS) to 'significantly improve communication between the ESA astronauts manning the station and earth.
Mycronic receives order for an SLX mask writer Swedish equipment provider, Mycronic AB, has received an order for the new SLX mask writer from a customer in Asia. The customer already has mask writers from Mycronic.
A new production unit for mirror segments for ELT Safran's new production unit at the company's Saint-Benoît facility near Poitiers in central France will make the primary mirror segments for Europe's Extremely Large Telescope (ELT).
A more sustainable approach to semiconductor manufacturing Reuse; that is the key to driving environmental sustainability in global semiconductor manufacturing, says Steven Zhou, CEO of Moov Technologies.Load more news