© rob hill dreamstime.com PCB | December 26, 2016
Eltek to sell its share in Kubatronik-Leiterplatten GmbH
Israeli PCB manufacturer, Eltek Ltd., has signed a definitive agreement for the sale of all the Kubatronik-Leiterplatten GmbH shares it holds to Mr. Alois Kubat, Kubatronik’s only other shareholder and founder.
Eltek purchased its shares in Kubatronik from Mr. Kubat in 2002, and at that time also granted Mr. Kubat the right to require Eltek to purchase his remaining interests in Kubatronik.
In anticipation of the transaction, Eltek will:In consideration for the sale, Eltek shall be entitled to contingent consideration equal to 20% of Kubatronik’s net profit in 2017, and 10% of Kubatronik’s net profit in each of 2018 and 2019. Eltek and Kubatronik further agreed, that until the end of 2017 they shall offer a 10% discount on sales to one another of their corresponding products and pay a 10% commission on sales each party effects to customers introduced by the other, as applicable. In addition, during this period, Kubatronik shall continue to manage Eltek Europe GmbH, and Mr. Avi Gal shall continue to serve as Kubatronik’s CEO, on a part-time basis. Following consummation of the transaction – expected to happen by the end on 2016 – Eltek will recognise a loss of USD 675’000. Mr. Yitzhak Nissan, Chairman of the Board and Chief Executive Officer, commented: “During the last several years Kubatrunik's [sic] business has failed to pick up and it has drawn significant resources from Eltek. The sale of Kubatronik will allow us to focus on our continued development of advanced technological solutions and is expected, in the long run, to positively impact our financial results.”
- Pay Mr. Kubat EUR 483’000 on account of such right;
- Provide Kubatronik with a EUR 110’000 advance, to support its cash flow.
- This advance, together with Kubatronik's existing debt to the company in the amount of EUR 1’031’000, will be forgiven as part of the transaction.
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