Sanmina-SCI Corporation (Nasdaq: SANM) $16.54. Today announced the formal inauguration of its state-of-the-art technology manufacturing campus in the Oragadam Hi-Tech Special Economic Zone (SEZ) near Chennai in the state of Tamil Nadu.
The Grand Opening Ceremony held on Sunday, March 28th, was attended by the Company's Co-founder, Chairman and CEO Jure Sola, President and COO Hari Pillai, Executive Vice President, South Asia Pacific, CT Chua and Vice-President and Managing Director for India, Kumaran Subramaniam. The management team was joined by Tamil Nadu Deputy Chief Minister, Dr. M.K. Stalin, Tamil Nadu Minister for Labor Mr. T.M. Anbarasan, Mr. Andrew T Simkin, US Consul General, Chennai and many of the company's local employees, customers and suppliers.
To read more about Sanmina-SCI Corporation visit http://www.smallcapreview.com/sanm.htm.
What They Do: Sanmina-SCI Corporation is a leading electronics contract manufacturer serving the fastest-growing segments of the global Electronics Manufacturing Services (EMS) market. Recognized as a technology leader, Sanmina-SCI provides end-to-end manufacturing solutions, delivering superior quality and support to OEMs primarily in the communications, defense and aerospace, industrial and medical instrumentation, multimedia, enterprise computing and storage, renewable energy and automotive technology sectors. Sanmina-SCI has facilities strategically located in key regions throughout the world.
Bell Microproducts Inc (Nasdaq: BELM) $5.38. Today announced that it has entered into a definitive agreement to be acquired by Avnet, Inc. in an all cash merger for $7.00 per share. The total transaction value of approximately $594 million is based upon an equity value of approximately $252 million and a Bell debt position, at face value and net of cash, of $342 million at December 31, 2009. The acquisition has been approved by the Boards of Directors of both companies and is subject to the approval of Bell's shareholders as well as customary regulatory approvals. The transaction is expected to close in 60 to 120 days.
Don Bell, founder and Chief Executive Officer of Bell, commented, "This transaction delivers excellent value to our shareholders while providing an enhanced platform from which our employees can continue Bell's heritage of helping suppliers reach our served markets with increasingly complex solutions. Given the rising demands of global technology markets, the investment required to deliver leading edge technical support and competitive supply chain networks continues to grow. Avnet's financial resources and global infrastructure will allow the Bell organization to deliver industry-leading value to our customers and continue our long history of growth and market share gains."
What They Do: Bell Microproducts is an international, value-added distributor of a wide range of high-tech products, solutions and services, including storage systems, servers, software, computer components, and peripherals, as well as maintenance and professional services.
Raser Technologies, Inc. (NYSE: RZE) $0.97. Today announced that the United States Trade and Development Agency awarded Indonesia Power (IP) grant funding in the amount of $934,308 for a feasibility study of the Tangkuban Perahu geothermal concession. IP has selected Raser as the sole-source contractor to perform the study, which will assess the technical, economic, and financial feasibility of the geothermal resource, including the potential impact and opportunity the project will have for Raser and other U.S. suppliers in the Indonesian market. Raser will receive payments from the grant funds directly from USTDA as study milestones are completed. The grant will cover approximately 70% of the study, with Raser, as sole-source contractor, contributing a cost share of approximately $400,000.
Raser and IP entered into a consortium agreement in 2007 to jointly pursue geothermal development in Indonesia. In 2008, IP and Raser were awarded a 100,000 acre concession surrounding the Tangkuban Perahu volcano, approximately 15 miles north of Bandung, the capital of the West Java Province. Raser and IP have agreed to a 50/50 development arrangement for potential future projects within the 100,000 acre concession. IP is Indonesia’s largest electricity generation company, with nearly 9,000 MW of total capacity, including 375 MW of geothermal power generation, which makes it the second largest geothermal generation company in Indonesia.
What They Do: Raser is an environmental energy technology company focused on geothermal power development and technology licensing. Raser’s Power Systems segment is seeking to develop clean, renewable geothermal electric power plants and bottom-cycling operations, incorporating licensed heat transfer technology. Raser’s Transportation and Industrial segment focuses on extended-range plug-in-hybrid vehicle solutions and using Raser’s award-winning Symetron technology to improve the torque density and efficiency of the electric motors and drive systems used in electric and hybrid-electric vehicle powertrains and industrial applications.
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