News
BEIJING -- The Chinese government ordered Foxconn's Shenzhen EMS site to create a union for workers this year, according to the Beijing News today.
Shenzhen officials have reportedly told Hong Fu Jin Precision Industry, the local name of the Foxconn plant, to set up a union by the end of this year, the paper said.
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Shenzhen officials have reportedly told Hong Fu Jin Precision Industry, the local name of the Foxconn plant, to set up a union by the end of this year, the paper said.
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CHICAGO -- In its annual world
outlook for commercial airplanes, Boeing predicts a 6.1% annual increase in air cargo traffic over the next 20 years. Coupled with higher fuel costs, that suggests cargo rates will continue to fly higher in coming years.
The world's largest maker of planes also predicts passenger traffic to increase 4.9% a year through 2025.
The company said worldwide air freighter fleet will nearly double over the next 20 years to 3,560 airplanes, from 1,790.
The world's largest maker of planes also predicts passenger traffic to increase 4.9% a year through 2025.
The company said worldwide air freighter fleet will nearly double over the next 20 years to 3,560 airplanes, from 1,790.
TAIPEI -- Hon Hai Precision Industry, the trading name of Foxconn, reported second-quarter earnings rose 32% over a year ago and 18% sequentially, according to media reports.
The company showed a net profit of $388 million (T$12.77 billion) for the quarter ended June, according to Reuters. That compares to a profit of roughly $328 million (T$9.98 billion) in the March quarter.
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The company showed a net profit of $388 million (T$12.77 billion) for the quarter ended June, according to Reuters. That compares to a profit of roughly $328 million (T$9.98 billion) in the March quarter.
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LOUISVILLE -- A federal bankruptcy judge turned down Sypris Solutions' request for quick decision by its top customer on whether to continue its supply
contracts with Sypris.
Dana Corp., which makes auto parts, is said to be Sypris' largest customer, having purchased more than $120 million in parts in 2005.
The company filed for Chapter 11
bankruptcy protection in March, however, and Sypris
was seeking for the court to order Dana to render a decision on whether to keep the
supply contracts by Oct. 3.
According to the ruling, by contract Sypris can prevent Dana from buying those parts from another
manufacturer through 2014.
NEW YORK -- Private equity firm Francisco Partners has purchased Vitronics and Universal Instruments, Circuits Assembly has learned.
An announcement is expected later today. Terms were not disclosed and the transaction is subject to normal closing conditions and regulatory approval.
Privately held Francisco focuses on investments in technology and related services businesses.
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An announcement is expected later today. Terms were not disclosed and the transaction is subject to normal closing conditions and regulatory approval.
Privately held Francisco focuses on investments in technology and related services businesses.
NEW YORK -- Sales of benchtop SMT equipment for low-volume, high-mix production has been on a steady rise, says Frost & Sullivan in a new report.
The research firm says revenues for the equipment would rise to $363.7 million in 2012, from $152.4 million in 2005.
“Being an intensely competitive and fast-paced industry, electronics relies on constant innovation and improvement of its products to sustain interest among customers,” said analyst Deepa Mathew. “SMT benchtop equipment plays a crucial role by providing a high degree of flexibility and desired performance to suit low-volume, high-mix production requirements.”
The research firm says revenues for the equipment would rise to $363.7 million in 2012, from $152.4 million in 2005.
“Being an intensely competitive and fast-paced industry, electronics relies on constant innovation and improvement of its products to sustain interest among customers,” said analyst Deepa Mathew. “SMT benchtop equipment plays a crucial role by providing a high degree of flexibility and desired performance to suit low-volume, high-mix production requirements.”
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