News
BOSTON, Jan. 7 -- Teradyne Inc. will lay off 320 employees and vacate a plant in California as part of an effort to cut expenses. The company will take an $11 million charge.
In an SEC filing today, Teradyne said it would terminate approximately 320 employees from its Connection Systems and Assembly Test divisions and vacate a facility leased by the company's Assembly Test division in Poway, CA.
The restructuring is expected to be completed during this quarter.
LAGUNA, Philippines, Jan. 11 -- Electronics manufacturing services provider Integrated Microelectronics Inc. will exhibit at Internepcon World Japan in Tokyo later this month.
The show takes place Jan. 19 to 21, at the Tokyo Big Sight convention center.
IMI president and chief executive Arthur R. Tan called the show "a good venue to showcase our complete and high value electronics manufacturing solutions."
IMI performs PCB assembly, subassembly and integration, plus design and product development, and order fulfillment. Japanese customers account for 70% of IMI's annual revenues.
Investment bank Deutsche Bank today forecast EMS sales to slow through at least the first half of 2005. In a research note, analyst Chris Whitmore predicted 7% year-over-year growth for the industry in 2005.
"We remain concerned about the EMS industry's ability to meaningfully expand margins in the current business environment. We believe continued excess capacity, increasing competition from Asia-based producers and slowing near-term demand trends will likely result in continued margin pressure," Whitemore wrote.
Whitemore said that margin pressures and competition should be "somewhat offset" by restructuring and other cost-reduction activities.
The bank said fourth-quarter 2004 results should be in line with tepid expectations. "We believe most EMS vendors will report in line with our EPS forecasts, despite continued weak end-market demand in the December quarter." The bank's outlook for Sanmina-SCI was cited as "most cautious." "We expect Sanmina-SCI to post December quarter results at the low end of guidance," Whitmore wrote.
Press Releases
- SP Manufacturing Brings World-Class EMS Expertise to MD&M East 2025; Jackson Tan Comments
- Aligned Solutions Announces Leadership Transition: Bryce Timms to Succeed Mike Young in Ohio, Kentucky, Western PA; Jim Rittma Comments
- SASinno Americas Expands Product Portfolio with Private-Labeled Purex Fume Extraction Systems; Mike Young Comments
- DISTRON CORPORATION Celebrates 20-Year Anniversary of Test Engineering Manager Richard Guerin