SAN JOSE — Jure Sola, CEO of Sanmina-SCI, told analysts last night that the company was done shuttering PWB facilities for the year.
Once the world's largest PWB fabricator, since 2001 Sanmina-SCI has closed several facilities and seen its market share and PWB revenues erode dramatically. The company recently took measures to shutter plants in Stuttgart, Germany, and Phoenix, where the former Continental Circuits plant acquired by Sanmina in 1999 will be closed later this month.
"These are the last shutdowns in our printed circuit board factories," Sola remarked. "Restructuring of this business is finally behind us."
OTTAWA – Process Photonics today announced a flexible moving probe for laser trimming and testing circuit boards. The company has filed a provisional patent application for the technology, which is headed for customer trials and expected to be available in the fourth quarter.
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FRANKLIN PARK, IL — Two top executives of M-Wave Inc. have signed a deal to purchase the electronics-related business of the company. The executives, Joe Turek and Robert Duke, through an entity called M-Wave International, will purchase M-Wave for roughly $900,000 in stock.
TORONTO – Coretec Inc. reported sales of $21.8 million in the second quarter, a decrease of 4.5% compared both to the first quarter and the same period last year. The net loss was $600,000, reversing a gain of $400,000 last year and a decrease of 17% sequentially.
The company recorded an operating profit of $4.3 million, or 19.9% of sales, a decrease of 8.7% compared to first-quarter profit, and down 19.2% from profit year-over-year.
In a statement, president and CEO Paul Langston cited a general industry slowdown and rapid appreciation of the Canadian dollar. He also noted the relocation of the company's manufacturing operations in Lawrence and operational challenges in Toronto related to the product mix and a defective chemical supply.
Coretec said the Lawrence facility shutdown was completed in May, and by the end of July all transferred processes will be fully operational. The firm plans to install new equipment in the current quarter to improve yields and capacity.