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Eurotech has signed an agreement with Curtiss-Wright Controls, Inc. for the sale of Parvus Corporation, the American fully-owned subsidiary of the Eurotech Group.
The consideration for the transaction has been set by the parties at USD 38 million (equal to approx. €28.1 at current exchange rates), net debt free. This amount will be subject to adjustments based on the working capital as at September 30th, 2013.

Positive adjustments in favour of Eurotech will have a cap of USD 300 thousand. The collection of the consideration, net of escrow deposit for 18 months to cover contractual warranties, will be USD 35 million at the closing date, which is today October 1st 2013, while the adjustment based on the working capital will take place within 150 days from that date.

Read more: http://evertiq.com/news/32852

Elektrobit (EB) and Daimler are strengthening their partnership for developing Daimler’s embedded driver assistance software.
“This close cooperation between Daimler and EB, with EB taking the role of a direct software provider for driver assistance, is unseen before in the automotive industry,” said Alexander Kocher, president of EB’s Automotive Business Segment. “It underlines the growing importance of software as a key differentiation factor also in the driver assistance area, for both luxury and mass market vehicles and also mirrors the increasing separation of software from hardware components. Together with Daimler we are now developing strategies to meet the growing complexity of driver assistance.”

Joachim Missel, senior manager – Camera-Systems and Parking-Assistance Mercedes-Benz Cars, Daimler commented, “During the last two and a half years, we have delivered more than 230 version releases with 75 series approvals with EB – and all these releases have been on time. Thanks to EB’s expertise in developing automotive-grade software for driver assistance, we are able to deliver vehicles with a maximum of safety, quality and performance.”

Read more: http://evertiq.com/news/24779

Focused efforts on the company‘s main markets and a more efficient organisation lead to improved profitability and a strong cash flow in the quarter.
“Our key customers are investing in innovation and new products, resulting in a positive development for a technology company like us,” says Kenneth Ragnvaldsen, CEO of Data Respons ASA.

Operating revenue for the second quarter was NOK 219 million (223). EBITDA was NOK 13.3 million (10.3) and EBIT amounted to NOK 12.3 million (9.2). The order intake for the period was NOK 198 million (195). Operating cash flow was NOK 14.8 million.

Operating revenue for the first half of 2013 was NOK 413 million (449). EBITDA was NOK 24.3 million (19.6) and EBIT was NOK 22.3 million (17.4). The order intake for the period was NOK 424 million (413).The group’s order backlog at the end of the quarter was NOK 645 million.

Focused efforts producing results

“Data Respons has focused on its core business and become a more cost-effective organisation which has resulted in improved profitability in the first half. Both business segments are performing well. We have are experiencing high utilisation among our specialists and increased products and solutions deliveries,” says Ragnvaldsen.

Expecting a good year

“In a challenging macro environment in Europe, we are experiencing good activity at our key customers in our most important markets. The positive development in the services segment combined with a solid order backlog in the products & solutions segment provides a good starting point to 2013,” concludes Ragnvaldsen.

1 NOK = 0.12626 EUR (2013-07-12 Oanda)

Read more: http://evertiq.com/news/24780

Global electronic components distributor Digi-Key signed a global distribution agreement with PRECI-DIP SA, a manufacturer of Swiss world connectors and contacts.
“Today’s engineering applications are continuously seeking new, rugged interconnect components to give them a leading edge in their markets,” said Tom Busher, vice president, global interconnect, passive, and electromechanical product at Digi-Key. “We are pleased to distribute PRECI-DIP’s spring-loaded technology, which will give our customers a cost-effective and reliable solution to their mating cycle, high shock and vibration, and board-to-board connection needs.”

“The addition of Digi-Key as a key distributor of our products provides our customers with the ability to quickly receive delivery of PRECI-DIP parts in the USA and worldwide. Digi-Key supports our commitment to meet the design needs of a diverse customer base through an easy-to-use and flexible channel,” said Tanguy Tronel, PRECI-DIP Director of Worldwide Sales and Marketing. “As the leading provider of interconnects based on screw-machine contacts for various markets, PRECI-DIP is committed to continuously expanding its global presence and service.”

Read more: http://evertiq.com/news/32752

Asset InterTech, a supplier of tools for embedded instrumentation, has acquired Arium , a California based, provider of software debug tools for systems based on Intel and ARM processors.
Arium’s debug tools will be integrated into Asset’s ScanWorks platform for debug, validation and test, making it a powerful and comprehensive non-intrusive toolset for chip and circuit board designers, manufacturing test engineers and troubleshooting support personnel.

“Arium has a long history – 35 years in fact – of developing innovative JTAG-based debug and trace tools for that layer of software between the operating system and the underlying hardware,” said Glenn Woppman, president and CEO of Asset InterTech. “Of course, faster software debug on prototypes of circuit board designs is crucial for moving designs into manufacturing sooner and accelerating new product introductions, but there is more to this beyond the tools themselves. By combining the expertise of our two organizations we are going to be able to help engineers solve a broader spectrum of problems with the kinds of non-intrusive methodologies that are best suited to today’s technology; methodologies that work from the inside out, not from the outside in.”

“We are very excited about joining forces with Asset because we’re convinced that embedded instrumentation is the technology of the future and it is well on its way to becoming a necessity for designers,” said Larry Traylor, president of Arium.

“Intel has a long history of collaboration with both Arium and Asset InterTech in enabling and validation work with our customers to bring the latest innovative Intel-based systems to market,” said Hussein Mecklai, vice president, Intel Architecture Group, general manager, Intel Platform Validation Engineering. “We look forward to continued work with the combined expertise of the two companies.”

Read more: http://evertiq.com/news/24763

Kontron AG has appointed Eric Sivertson as new head of its business unit Military, Avionic and Rail (MAR).
He joins Kontron from his current role as Founder and President of Quantumtrace. Previous positions include; General Manager at XILINX and Director of Thales Communications. Eric Sivertson will succeed Georges Batarsé, who is leaving Kontron.

“Eric is a big win for Kontron. His decades of relevant industry experience and his unique business network, especially in the US, will boost our prospects for sustainable growth significantly. This is true both in terms of the worldwide MAR business he will run for us, and in terms of the strength in our overall North American business”, says Rolf Schwirz, CEO of Kontron AG.

Kontron AG’s business unit MAR focuses on developing ECT-system solutions for the sectors military, civil aviation and regional rail transport.

Read more: http://evertiq.com/news/32704

“To reflect that we are a Graphic Group company, we have changed the registered name from Printca Denmark A/S to PrintcaGRAPHIC A/S.”
There are many changes to be announced at Danish PCB manufacturer Printca. No only the name change has occurred during the last few weeks, new employees have arrived too. Palle Lund Pedersen has joined the company as new QA manager. Palle is coming with a background from engineering and quality management in PCB assembly technologies at Terma and Grundfos. Kenneth Thyssen Christophersen has joined the company as Quality Engineer. Kenneth will focus on development and documentation of procedures and work instructions and implementation of new technologies.

New design specification for Space PCB’s

Together with ESA, other PCB manufacturers and Space OEM’s, the PCB manufacturer has been working on a new detailed design specification for high reliability printed circuit boards. This define limits for features used in boards that are released to ECSS specifications. A current draft version is under review, the company announced.

Read more: http://evertiq.com/news/32699

Emerson reaches agreement to sell majority interest in Embedded Computing & Power business to Platinum Equity.
Emerson has agreed to sell a 51 percent stake in its embedded computing and power business to Platinum Equity. Emerson will receive approximately USD 300 million in cash and will retain a 49 percent noncontrolling interest in the business, which will operate as an independent company.

“After extensive consideration, we have found an arrangement to exit this business in a manner that maximizes its value for our shareholders,” said Emerson Chairman and Chief Executive Officer David N. Farr. “The embedded computing and power business is a technology leader in the industry it serves, but no longer fits strategically in our portfolio. The transaction with Platinum will allow us to immediately focus on our core businesses while also participating in the upside from repositioning the business as it focuses on growth as an independent company.”

With revenue of approximately USD 1.4 billion in 2012, Emerson’s embedded computing and power business, based in Carlsbad, Calif., that designs and supplies technologies used in communications and computing equipment and other applications.

“We have forged a strong partnership with Emerson, coming together in a way that will create success for everyone,” said Platinum Equity Chairman and Chief Executive Officer Tom Gores. “We will build on the foundation established under Emerson to further position the business as a strong and innovative competitor in the marketplace.”

The transaction is expected to close in approximately three to six months, upon securing regulatory approvals in various countries.

Read more: http://evertiq.com/news/32155

Ducommun Incorporated has named Jerry Redondo vice president of operational excellence for its electronics and aerostructures business units.
“Jerry brings more than 20 years of leadership experience in manufacturing operations, global supply chain management, quality and lean production. He is an innovative thinker who is committed to helping the Ducommun team take operational excellence to world-class levels in our organization,” said Joel Benkie, chief operating officer.

Redondo joins Ducommun from Crane Aerospace & Electronics where he served as group vice president of operations. He previously was with the Aerospace Group of Parker Hannifin Corporation where he served as director of operations and global supply chain for the company’s Control Systems Division.

Read more: http://evertiq.com/news/32690

Electrolube, manufacturer of electro-chemicals, has appointed Arthur Foxton as the company’s new Technical Sales Engineer.
The appointment complements Electrolube’s strategic objectives to expand its sales team and overall investment in people, at a time of growth within the company. As the new Sales Engineer, Arthur will be responsible for actively maintaining customer relationships across the UK, driving sales to further develop Electrolube’s UK customer base and increasing the company’s market share in the sale of conformal coatings, Thermal Management Solutions, Resins, Contact Lubricants, Cleaning solutions and Service and Maintenance Aids.

Commenting on his appointment, Arthur said, “From the start, I’ve really enjoyed the versatility of the work and getting to know our existing UK customers. I’ve spent a large portion of my time having training sessions, visiting customers and understanding how they use our products. I’m thoroughly enjoying my time at the company due to the varied customer base, the people and the purposeful drive of the sales team to provide solutions that solve customer problems effectively.”

Read more: http://evertiq.com/news/32675