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ON Semiconductor Corporation (Nasdaq: ONNN) $9.88. Today announced the completion of the acquisition of SANYO Semiconductor Co., Ltd., a subsidiary of SANYO Electric, and other assets related to SANYO Electric’s semiconductor business, by ON Semiconductor. Under the terms of the purchase agreement, ON Semiconductor paid approximately ¥11.8 billion ($144 million) in cash to SANYO Electric and drew down approximately ¥31.7 billion ($378 million) under a loan agreement with SANYO Electric.
“The combination with SANYO Semiconductor represents an important step in the continued transformation of ON Semiconductor into a premier global supplier of high-performance silicon solutions for energy efficient electronics,” said Keith Jackson, president and CEO of ON Semiconductor. “This acquisition enables us to expand wholeheartedly into the Japanese market and to capture growth on a global basis. We believe this acquisition will create immediate value for customers, partners and investors, and we are excited to welcome the employees of SANYO Semiconductor to the ON Semiconductor family.”
What They Do: ON Semiconductor is a premier supplier of high performance silicon solutions for energy efficient electronics.
Puda Coal, Inc. (AMEX: PUDA) $14.25. Today announced that Shanxi Puda Coal Group Co. Ltd , a 90% subsidiary of Puda Coal, entered into coal mining rights and mining assets transfer agreements with three coal mines located in Pinglu County, Shanxi Province, on December 28, 2010, Pinglu County Anrui Coal Industry Co., Ltd., Pinglu County Chuntouao Coal Mine and Pinglu County Xiapingcun Coal Mine.
On September 28, 2009, Shanxi Coal was approved by the Shanxi provincial government to consolidate certain coal reserves in Pinglu County, Yuncheng City, Shanxi Province ("Pinglu Project"). The assigned coal reserves are owned by eight coal mines with good operating track records prior to their mandatory shut down under the Shanxi province Coal Mine Consolidation Program and Xiapingcun Coal, a permanently closed small mine with a mining area of 0.7 square kilometers.
What They Do: Puda Coal, through its subsidiaries, supplies premium high grade metallurgical coking coal used to produce coke for steel manufacturing in China.
Orthofix International N.V. (Nasdaq: OFIX) $29.00. Today announced that its sports medicine division, Breg, has signed a contract with Novation to be the exclusive manufacturer of cold therapy products for NOVAPLUS, the private label brand of Novation. With over 35,000 members, Novation is the largest group purchasing organization in the United States. The contract was effective as of November 1, 2010.
“We are delighted to continue our business relationship of the past five years with Novation and provide the members they serve with our market-leading cold therapy products through the NOVAPLUS label,” said Alan Milinazzo, President and CEO of Orthofix.
What They Do: Orthofix International, N.V. is a global medical device company offering a broad line of minimally invasive surgical, and non-surgical, products for the spine, orthopedic, and sports medicine market sectors that address the lifelong bone-and-joint health needs of patients of all ages–helping them achieve a more active and mobile lifestyle.
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