Scanfil to Restructure Operations in China
June 27, 2016 | ScanfilEstimated reading time: Less than a minute
Scanfil announced in the Interim Report on 29 April 2016 that measures to eliminate overlap and streamline the factory network have been started in China. As an outcome of these measures Scanfil Sweden AB’s Chinese subsidiary, Partnertech Electronics Co., Ltd. has on 27 June 2016 decided to cease the production at Dongguang plant in China. Production at Dongguang plant is estimated to end during the third quarter of 2016. Turnover of Partnertech Electronics Co., Ltd in 2015 was about EUR 19.5 million and operating loss about EUR 1.1 million. Part of the customer accounts of Dongguan will continue at Scanfil plants in Hangzhou and Suzhou.
Non-recurring costs related to the closure of the production is estimated to be approximately EUR 2 million. The respective negative cash impact is estimated at approximately EUR 1 million. Corresponding cost provision will be recognized in the second quarter of 2016.
Suggested Items
SPEA Expands in Southeast Asia with New Subsidiary in Thailand
05/17/2024 | SPEASPEA, a global leader in automatic test equipment for the manufacturing of semiconductor, microelectronic and electronic devices, today announced the opening of its new subsidiary in Thailand. This expansion marks a significant step forward in SPEA's commitment to serving the growing Southeast Asian microchip and electronics market with leading-edge manufacturing machinery and equipment.
Indium Corporation to Showcase Sustainable Solutions for Power Electronics at PCIM
05/17/2024 | Indium CorporationAs one of the leading materials providers to the power electronics assembly industry, Indium Corporation® will proudly showcase a selection of innovative products at PCIM Europe, June 11-13, in Nuremberg, Germany.
Siemens, Foxconn Team Up to Optimize Forward-thinking Manufacturing
05/16/2024 | FoxconnSiemens AG, a leading technology company, and Hon Hai Technology Group (Foxconn), the world’s largest electronics manufacturer, have signed a memorandum of understanding (MoU) to drive digital transformation and sustainability in smart manufacturing platforms.
IPC Releases May 2024 Global Sentiment of the Electronics Supply Chain Report
05/16/2024 | IPCSentiment among electronics manufacturers fell this month, after hitting a new high in April. Despite the decline, sentiment remains historically high according to IPC’s May Sentiment of the Global Electronics Manufacturing Supply Chain Report.
Sypris Reports Q1 2024 Results; Revenue Up 10%
05/15/2024 | Sypris Solutions Inc.The Company’s first quarter 2024 consolidated revenue increased 10.1% to $35.6 million compared with the prior-year quarter, representing the 11th quarter of double-digit year-over-year growth during the past 12 quarterly periods.