News
Merix will buy Data Circuit Systems Inc., a provider of quickturn board fabrication services, for a total purchase price of $43 million, consisting of $41 million in cash and a $2 million note. The move effectively triples Merix's customer base.
For its fiscal year ended Sept. 30, Data Circuit Systems had net income of $2.3 million on sales of $27.7 million. The firm posted an EBITDA of $5.8 million.
In a press statement, Merix chairman and chief executive Mark Hollinger said, "Merix has been focused on growing and enhancing its quickturn business for some time. While we have made significant progress in this endeavor, this combination enhances our market opportunity by providing added scale, tripling our customer base, diversifying our end markets, adding experienced rep firms to complement our direct sales force, and augmenting our quickturn service offering to include 24 hour turnaround."
Delays are still being reported at transit hubs and importers continue to rush shipments in advance of unfilled quotas, Trans Global Logistics said in an email note.
Fuel surcharges and freight rates remain high as stabilizing oil prices and moderating shipping demand have been offset by the weak U.S. dollar. Today, OPEC announced a $1 per barrel increase for oil.
Activity remains strong at Taipei and Shanghai, where new customs clearance procedures went into effect Dec. 1 and products to be shipped are reportedly delayed up to three days.
China is expected to see a bump in activity in the next four weeks, leading up to the Chinese New Year on Feb. 9. "We expect markets in China to be very active in early January as importers rush to take advantage of quota elimination on many apparel categories. Export activity will also spike in early February because Chinese factories will shut down during the weeklong Lunar New Year holiday," Trans Global wrote.
In a press statement Siemens L&A EA chief executive Tilo Brandis said, "The partnership between ASYS and Siemens is defined by developing creative, flexible solutions and the permanent optimization of the business relationship."
The relationship between ASYS and Siemens dates to 1995. In 1997 ASYS designed and developed a lift system for connecting a line of Siemens' placement systems in a parallel manner. To date ASYS has supplied more than 1,000 of the systems to Siemens.
The Siplace Partnership Award recognizes business partners that benefit users of Siemens' products or services.
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