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Getting to Know Your Designer
In this issue, we examine how fabs work with their design customers, educating them on the critical elements of fabrication needed to be successful, as well as the many tradeoffs involved. How well do you really know your customer? What makes for a closer, more synchronized working relationship?
In this issue, the biggest names in PCB manufacturing share their economic outlook for the upcoming year and beyond. As you will see, they were all bullish on our industry, but there was some apprehension as well. No one wants to get burned by another the supply chain disruption.
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FTG Inks Definitive Agreement to Acquire IMI Inc.November 18, 2022 | Globe Newswire
Estimated reading time: 1 minute
Firan Technology Group Corporation has entered into an agreement to acquire IMI, Inc. based in Haverhill, Massachusetts, north of Boston. IMI is a manufacturer of specialty RF circuit boards focused on the aerospace and defense markets. The closing of the acquisition is subject to approval by the Committee on Foreign Investment in the United States (CFIUS) and other customary closing conditions. The companies will shortly apply for CFIUS approval. The closing of the transaction is expected to take place in the first quarter of fiscal 2023.
FTG will acquire 100% of the common shares of IMI for cash consideration of approximately $2M CAD, subject to typical closing adjustments. The target company has had reported annual sales of approximately $4-5M CAD in its unaudited financial statements over the past few years.
“FTG had identified a desire to increase its product offering of RF circuit boards for aerospace and defense applications. This acquisition, if completed, will complement FTG’s existing facilities, add new customers and provide a broader product offering to our existing customer base," said Brad Bourne, president and CEO of FTG. “Peter Bigelow has done an excellent job building IMI’s RF capability through investments in people, processes and technology and FTG plans to grow IMI from its current location.”
Peter Bigelow added, “I am pleased with the sale of IMI to FTG, as I believe FTG will continue to build the business going forward to the benefit of IMI’s customers, employees and other stakeholders. While the ownership of the company is changing, I have agreed to remain with IMI as president for a period of time after the closing of the sale to FTG.”
Collins Aerospace, an RTX business, has been selected by Air India for a full suite of avionics hardware catering to the airline's expanding Boeing 737 MAX fleet.
Further to the announcement of 17 August 2023, BAE Systems has now received the necessary regulatory approvals and will be executing steps in the coming days to complete the acquisition of Ball Aerospace from Ball Corporation.
With such an extremely newsy week, it was hard to select just five items you absolutely must read, but here goes. We have advocacy news from PCBAA and IPC, global market data on AI PC and GenAI smartphone hardware, a roundtable discussion on sales and marketing, a bookended pair of international milaero stories emphasizing a healthy aerospace industry, and an industry report on global semiconductor sales.
Honeywell announced it will invest $84 million to expand its Olathe manufacturing facility in Kansas. The project, which is expected to generate nearly $47 million in total gross domestic product (GDP) and contribute $18.3 million to state and local taxes in the first six years, supports the company's alignment with the compelling megatrend of the future of aviation.
Ventec International Group Co., Ltd. is pleased to announce that its VT-901 polyimide material is now fully and exclusively qualified by ESA in ACB Belgium’s manufacture of High-Density Interconnect (HDI) Printed Circuit Boards.