News
Reuters reported today that the Kurdistan Workers Party (PKK) set fire Monday to a Beko Elektronik warehouse in Beylikduzu, outside Istanbul,.
According to a ranking Beko official, damage from the fire was more than $5 million and between 30,000 and 35,000 products were lost -- around half of them television sets.
Beko is a subsidiary of industrial group Koc Holding. Last year the company made more than six million TVs, making it one of the top producers in Europe, Reuters said.
The PKK has engaged in armed battles for an ethnic homeland since 1984.
U.S. federal agencies are reviewing the case on grounds of national security. At issue is Lenovo's announced plans to send Chinese computer experts and researchers to IBM's North Carolina facility, said Enterprise Security Today.
That announcement is creating some consternation at high levels in the U.S. government. Some members of the Committee on Foreign Investments in the United States are questioning whether the relocation would open the U.S. to potential acts of industrial espionage.
The CFIUS' role is to review corporate deals that involve
foreign firms to determine whether any national security threats may
arise. The
CFIUS includes the Defense Department, the U.S. Trade Representative's
office and the Commerce Department.
One analyst said concerns over the possible breach in security are warranted.
Laura DiDio, an analyst with Yankee Group, was quoted as saying, "China is a still a Communist nation. ... They're very closed,
despite these deals, and they sell stuff to people we consider enemies.
So there's a real fear here, and it's not unwarranted."
WEST CHICAGO -- The outlook for sales of connectors remains unchanged: growth of 6 to 8%, according to a leading industry research firm.
However, Bishop & Associates says peak demand in the first half of 2004 raises the bar for those numbers to be reached.
Sales growth in 2005 "will require good demand foer electronics products.... Frankly we are a little concerned," the company said in a recent report.
Order growth has slowed, having declined in October and November. The November book-to-bill -- the most recent month for which data are available, was 1.0, below the year-to-date average of 1.02.
"We envision a scenario in which the first half of 2005 will be flat to the first half of 2004," Bishop said. "If 2005 starts slowly, we believe full year growth in 2005 will be difficult to achieve."
Through November, orders were up 22.2% for the year. November orders slipped 2% sequentially.
Shipments were up 22.9%, the 25th straight month of year-on-year gains.
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