© otnaydur dreamstime.com Electronics Production | December 20, 2018
Pioneer to go private with BPEA
On December 7, Pioneer and Baring Private Equity Asia (BPEA), a global private equity firm that is one of the largest investors in Asia, agreed to the Pioneer Revitalisation Plan, which in practical and financial terms is a JPY 102 billion (EUR 798 million) commitment.
The revitalisation plan comprises JPY 77 billion (EUR 602.5 million) of investment by BPEA in Pioneer and a cash offer to existing Pioneer shareholders of about 25 billion (EUR 195.5 million). In the first quarter of this fiscal year, Pioneer experienced challenging financial results with cashflow declines. The company's earnings report included a note acknowledging uncertainties. Related to this, Pioneer began exploring a range of measures for companywide management reforms. "It was during that process that Pioneer chose BPEA as our sponsor to assist with reforms. After deep discussions between both parties, we concluded that it would be best to take Pioneer private. This is because we recognised that to ensure business continuity and return Pioneer to growth in the medium- and long-term, it is vital to swiftly overhaul our organisational structure and review our business portfolio. We also recognised that, given the challenge of achieving near-term profitability, taking the company private represents the best option for Pioneer," Koichi Moriya, Pioneer's President and CEO, explains in an announcement. As a result of this, subject to shareholder approval and the completion of required filings, BPEA will invest in Pioneer and take Pioneer private, making the company a 100%-owned subsidiary of BPEA.
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 time
100 IC wafer fabs closed or repurposed since 2009 The hardest hit are ≤200mm wafer fabs, 70% of the closures are found in Japan and North America.
Westermo signs contract with North American rail company Beijer Electronics Group has through its business entity Westermo signed a contract with a large North American rail company with an estimated value during the contract period of SEK 80 million (EUR 7.24 million).
Royal Flex Circuits boosts effort to support healthcare Santa Fe Springs, California-based Royal Flex Circuits is ramping up capacity at its year-old manufacturing facility to be produce more of the printed circuits needed in the production of ventilators used specifically in the treatment of Coronavirus.
Lam Research reacts to COVID-19 situation Fremont, California-based Lam Research Corporation has issued a business update for its quarter ending March 31, 2020.Load more news