Industrial News

VIA OPTRONICS’ PROPOSED INITIAL PUBLIC OFFERING IN THE US

VIA optronics’ Proposed Initial Public Offering in the US VIA optronics AG (the “Company” or “VIA”), a 76%-owned German subsidiary of Integrated Microelectronics, Inc. (“IMI”) and a leading supplier of enhanced display solutions, filed on 4 September 2020, a Registration Statement on Form F-1 with the U.S. Securities and Exchange Commission relating to a proposed initial public offering of its American Depositary Shares (“ADSs”) representing ordinary shares in the capital of the Company. The number of ordinary shares to be represented by each ADS, the number of ADS to be offered and the price range for the proposed offering have [...]

2020-10-17T03:26:49+00:00 October 11, 2020|

Seipi backs proposed exemption of ecozone locators from CREATE

The umbrella group of Philippine electronics exporters is backing a call to exempt current investments in Philippine Economic Zone Authority-accredited economic zones from a tax bill that seeks to rationalize the fiscal incentives system, which is feared to increase the cost of doing business in the country. The exemption was proposed by Senate President Pro Tempore Ralph Recto, whose hometown of Lipa, Batangas, has tens of thousands of wor­kers employed by companies in economic zones. Danilo Lachica, president of the Semiconductor and Electronics Industries in the Philippines Foundation Inc. (Seipi), said this was “better” than having a transition period, which [...]

2020-10-17T03:20:58+00:00 October 10, 2020|

Two German electronics firms closing shop – SEIPI

MANILA, Philippines — Two German electronics firms are shutting down operations in the country due to the uncompetitive business environment, the Semiconductor and Electronics Industries in the Philippines Foundation Inc. (SEIPI) said. SEIPI president Dan Lachica said in a statement yesterday one firm has shut down and another is set to halt operations, citing the current unfavorable business environment. He declined to name the firms but noted both are German companies. “The first to shut down manufactured electronic lighting equipment. The other, which will shut down next year, produces automotive electronics accessories,” he said in a Viber message. Both companies [...]

2020-10-17T02:18:13+00:00 October 10, 2020|

Ayala energy unit to build solar plants worth P6.1 billion

MANILA, Philippines — Ayala Corp.’s energy unit is planning to build two new solar plants in Central Luzon in a bid to become Southeast Asia’s largest renewables platform by 2025. In a disclosure to the stock exchange on Wednesday, Ayala-led AC Energy Philippines Inc. said the company board has approved the solar projects cumulatively worth P6.1 billion, which aim to generate a combined energy output of 150 megawatts (MW) by 2022. “While we are facing significant challenges amidst the current crisis, ACEN remains committed to investing in the country and drive renewables expansion,” Eric Francia, company president and chief executive, said [...]

2020-09-12T02:55:03+00:00 August 19, 2020|

PH electronics sector seen to benefit from ‘high-tech’ COVID-19 new normal

MANILA, Philippines — The Philippines’ electronics sector stands to benefit from increasing global demand for tech goods amid COVID-19 lockdowns worldwide, hence would help ease the domestic recession inflicted by the pandemic, the Washington-based Institute of International Finance (IIF) said. “Restrictions on people’s daily activities led to significant behavioral changes, which exacerbated pre-existing trends towards remote work and online learning. Such developments stimulated demand for electronic applications, computing devices, and other technology-related products,” IIF said in a July 29 report titled “EM Asia: COVID-Induced External Adjustment.” This bigger demand for high-tech gadgets already jacked up first-half exports of computer and component [...]

2020-08-15T00:28:57+00:00 July 30, 2020|

Sayonara: Mitsubishi Motors to shut down Pajero factory line next year

It looks like we'll be waving goodbye to the Mitsubishi Pajero soon. After releasing two “Final Editions” of the Pajero in Japan and in Germany, Mitsubishi is set to cease production of the long-running SUV. According to a report from Nikkei, Mitsubishi cited plummeting sales and the global pandemic, and are now preparing to shut down the Pajero Manufacturing Co. facility by next year. With the company no longer offering the Pajero in the domestic market, as well as the decline in sales in other global markets, the factory's output rate has dropped significantly. In 2019, Mitsubishi only made a total of 63,000 [...]

2020-08-15T00:35:22+00:00 July 27, 2020|

Cirtek owner Jerry Liu sells P33M shares, stake down to 42%

Bilyonaryo Jerry Liu has not stopped shedding his stake in his semiconductor firm based in Laguna Techno park. Liu reported selling five million shares of Cirtek Holdings Corp. at P6.57 on July 12, for a total value of P32.85 million. The 72-year old businessman has disposed a total of 30 million Cirtek shares in the last three months. He has reduced his stake in the company to 42.69 percent as of July 12 from 49.85 percent in April. UPDATED: Jerry Liu unloads P40M Cirtek shares In a meeting on July 17, Cirtek’s board approved a cash dividend of $0.001193137 or [...]

2020-08-15T00:41:04+00:00 July 20, 2020|

Japan reveals 87 projects eligible for ‘China exit’ subsidies

TOKYO -- Japan's Ministry of Economy, Trade and Industry on Friday unveiled the first group of Japanese companies to subsidize for shifting manufacturing out of China to Southeast Asia or Japan. Eighty-seven companies or groups will receive a total of 70 billion yen ($653 million) to move production lines, in a bid to reduce Japan's reliance on its large neighbor and build resilient supply chains. Thirty of these will shift production to Southeast Asia, including Hoya, which produces hard-drive parts and will move to Vietnam and Laos. Sumitomo Rubber Industries will make nitrile rubber gloves in Malaysia, while Shin-Etsu Chemical will shift production of rare-earth [...]

2020-08-15T00:42:33+00:00 July 17, 2020|

Analog Devices Announces Combination with Maxim Integrated, Strengthening Analog Semiconductor Leadership

Analog Devices, Inc. (Nasdaq: ADI) and Maxim Integrated Products, Inc. (Nasdaq: MXIM) today announced that they have entered into a definitive agreement under which ADI will acquire Maxim in an all stock transaction that values the combined enterprise at over $68 billion2. The transaction, which was unanimously approved by the Boards of Directors of both companies, will strengthen ADI as an analog semiconductor leader with increased breadth and scale across multiple attractive end markets. Under the terms of the agreement, Maxim stockholders will receive 0.630 of a share of ADI common stock for each share of Maxim common stock they [...]

2020-08-15T00:45:19+00:00 July 15, 2020|

PEZA fears some companies might leave because of global recession

MANILA, Philippines — The Philippine Economic Zone Authority (PEZA) fears the global recession might prompt companies to cut down on costs, forcing them to pull out of the Philippines and focus operations on more investor-friendly countries instead. PEZA Director General Charito Plaza said in a press briefing on Tuesday that it is doing what it could to keep its current locators, but she could not shake off the fear that they might leave at some point. For now, no locator has left yet. However, she said the agency, which provides tax breaks to exporters such as income tax holidays, cannot stop [...]

2020-08-15T00:48:34+00:00 July 7, 2020|