News
TEMPE, AZ – The manufacturing sector in September dropped to its lowest level since October 2001 – the month following the terrorist attacks on New York City and Washington – the Institute for Supply Management reported today.
HARTLEPOOL, ENGLAND – The Stadium Group has acquired Fox Industries for £100,000, the electronics manufacturer said today.
Fox, which designs and sells of power supplies and other components for high-reliability applications, has reported annual sales of £300,000.
Fox owner Roger Barrett will be named business development director of Stadium Power.
Last month, Stadium reported pretax earnings rose 13% to £1.4 million. Chief executive Nigel Rogers said the company is continuing to look for other potential acquisitions in power and electronics.
EINDHOVEN, NETHERLANDS РAssembl̩on will reduce its worldwide headcount by 210 positions, or 29%, in response to the downturn in the global economy and the placement equipment market, the company said today.
The proposed plans would drop the company's global workforce to 510, from its current 720. Included in the cuts would be 135 positions in the Netherlands, where the company currently employs 390 workers.
Assembléon has asked its Works Council for advice on the proposed headcount reductions and will help affected employees find new positions, the company said in a press release.
The moves are being made to help the firm become "structurally profitable while maintaining its technology leadership."
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