Corporate Bulletin
NEWS | FAST LINKS
:: Corporate Member News ::
Micross

:: George Lucas Joins Gannon & Scott as VP of Sales & Business Development (full story)

:: Promex Industries Names Michael Lopez Chief Operating Officer (full story)

:: Mycronic Interim Report January-June 2019 (full story)

:: Elements of Indium by Indium Corporation: Malleability (full story)


:: Corporate Fast Links ::

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:: More Information ::

:: Only news about IMAPS Corporate Members will be published in this Corporate Bulletin. Please send your electronic press releases to Brianne Lamm, blamm@imaps.org, at least 3 days before the first or fifteenth of every month to be considered for publishing in this bulletin. All corporate bulletin questions - news releases, advertising, logo inclusion, IMAPS membership, and more - should be addressed to Brianne.


:: George Lucas Joins Gannon & Scott as VP of Sales & Business Development

George Lucas has joined Gannon & Scott Inc. as Vice President of Sales and Business Development. The company serves customers across North America, processing, assaying and recovering precious metals from a range of spent material at its facilities in Phoenix, Arizona, and Cranston, Rhode Island.



Based in New England, Lucas previously served four years as North American Sales Agent for 366 International, which specializes in buying, processing, and recycling precious metals from spent catalytic converters and electronic scrap.

Before joining 366, Lucas was Senior Vice President for Rebuilders Automotive Supply, a leading supplier to the automotive remanufacturing industry. He also served as President of Max-Pax, Inc., a premier plastics manufacturer in New England which specializes in thermoformed parts and packaging for the automotive, jewelry and cosmetic industries among others.

Lucas has been a frequent guest speaker at major industry events including national conventions of the Institute of Recycling Industries (ISRI), the Automotive Recycling Association (ARA), Premium Recycled Parts (PRP), and the annual Hollander Summit.  

He is a retired U.S. Army Captain and an alumnus of Providence College in Rhode Island.

Integrity, value and timely settlement are hallmarks of Gannon & Scott, which has been advancing precious metals refining and assaying for 100 years. For more information, visit Gannon & Scott (www.gannon-scott.com) or call 800.556.7296.
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:: Promex Industries Names Michael Lopez Chief Operating Officer

Promex Industries has named Michael R. Lopez Chief Operating Officer. In this position, Lopez will be responsible for growing the company while ensuring operational excellence.



Promex is an electronic manufacturing services (EMS) provider specializing in process design and heterogeneous assembly. Promex works closely with its customers’ engineering teams during the product design cycle to develop robust, scalable manufacturing process flows.

“We deliver innovation by bringing quality into the initial product design and development. This is especially important for medical and biotech OEMS due to the unique requirements of their complex products,” said Promex President and CEO Richard Otte. “Michael has considerable experience as a COO of companies producing Class II and Class III medical devices. I’m confident he can capitalize on our resources, strategy and vision to help us continue to build these products in volume, with high yield and consistent quality.”

Prior to joining Promex, Lopez served as COO of Tria Beauty, Inc., (Dublin, CA), PneumRX Inc., (Mountain View, CA) and Oraya Therapeutics (Newark, CA). Tria Beauty manufactures Class II medical devices for skin care, PneumRX develops Class III devices for emphysema management and Oraya produces low-voltage X-ray robotic systems for the treatment of macular degeneration.

“Promex is not a “me too” electronic manufacturing services firm. We’re a heterogenous integration house with broad toolsets and process technologies. Medical device OEMs come to us early in the development cycle to take advantage of our design for manufacturability and process validation expertise. Our close communication, collaboration and cooperation keeps them coming back. We’re like the watering hole for OEMs who need customized processes for their unique products,” Lopez said.

Lopez holds a BS in Mechanical Engineering from the US Naval Academy, an MBA from the University of Rhode Island, an MS in Manufacturing Engineering from Boston University and a Doctor of Business Administration from Case Western Reserve University. He began his career in the US Navy serving in the fast-attack nuclear-powered submarine community.

About Promex
Promex provides microelectronics assembly services from its 30,000-sq.ft. Silicon Valley facility, including Class 100/1000 cleanrooms for production of medical and biotech devices. The company offers advanced package design and materials consulting. Onsite scalable services include heterogeneous assembly, RoHS-optimized SMT, wafer thinning, dicing, wirebond, flip chip and overmolding. Promex’s Quik-Pak Division in San Diego offers package turn times as fast as one day, with three to five days standard. Packages include OmPPs (Air Cavity Open-Molded Plastic), QFNs/SOICs, OCPPs (Open Cavity Plastic), custom air cavity and plastic overmolded. Services include wafer processing, wire bonding and flip chip for IC packaging/COB applications. Both Promex and Quik-Pak facilities are ISO 13485:2016 / ISO 9001:2015 certified and ITAR registered. Promex also holds a CA FDB license to manufacture Class II and Class III medical devices. Promex can be reached by calling 1-408-496-0222 or visiting www.promex-ind.com.

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:: Mycronic Interim Report January-June 2019

Positive development in both of Mycronic’s business areas
“I am pleased to note that sales grew 27 percent during the quarter and it was therefore Mycronic’s strongest quarter ever in terms of sales. Assembly Solutions demonstrated favorable growth in both order intake and net sales and delivered improved EBIT, at the same time as Pattern Generators increased net sales and EBIT, and retained its robust operating margin,” says Anders Lindqvist, President and CEO.

Second quarter

  • Order intake increased 4 percent to SEK 901 (870) million
  • Net sales increased 27 percent to SEK 1,120 (882) million and 23 percent based on constant exchange rates
  • EBIT was SEK 317 (238) million, an increase of 34 percent. The EBIT margin was 28 (27) percent
  • The underlying EBIT was SEK 332 (265) million, an increase of 25 percent. The underlying EBIT margin was 30 (30) percent
  • Earnings per share were SEK 2.50 (1.77)

January-June

  • Order intake increased 6 percent to SEK 1,622 (1,526) million
  • Net sales increased 36 percent to SEK 2,225 (1,633) million and 29 percent based on constant exchange rates
  • EBIT was SEK 723 (434) million, an increase of 67 percent. The EBIT margin was 32 (27) percent
  • The underlying EBIT was SEK 753 (481) million, an increase of 57 percent. The underlying EBIT margin was 34 (29) percent
  • Earnings per share amounted to SEK 5.70 (3.22)

Outlook 2019
The Board’s assessment remains that consolidated net sales for 2019 will be at a level of SEK 4 billion, excluding any acquisitions made in 2019.

Events after the end of the period
An order was received on July 15 for an advanced mask writer from the Prexision series for display applications. The order comprises a Prexision-10, limited to production of photomasks for generation 8.

CEO comments
After two months as CEO, I am enthusiastically and confidently looking forward to continue developing the company, together with the strong team that has built Mycronic into the company it is today. I am impressed by the capacity for innovation that has contributed to the company’s strong position as a global supplier of world-leading production solutions for electronics and display manufacturing. We have an ability to identify product trends and how these influence future technical solutions, so as to find sub-segments in the electronics industry with faster growth than the industry as a whole. We can then build a strong position in these segments through product development and acquisitions.

It was precisely this product development that enabled us during the quarter to launch the Prexision Lite 8 mask writer, which is a complement to the more advanced Prexision-8 and broadens the range of mask writers to address different customer needs.

I am pleased to note that sales grew 27 percent during the quarter and it was therefore Mycronic’s strongest quarter ever in terms of sales. We have continued to deliver as planned and feel confident with the goal for 2019 to reach net sales of SEK 4 billion, excluding any acquisitions.

Assembly Solutions demonstrated favorable growth during the quarter in both order intake and net sales and delivered improved EBIT.

At the end of June, Pattern Generators received an order for two FPS6100 mask writers in the multi-purpose segment. The business area increased both net sales and EBIT, while retaining a robust EBIT margin.

Our aftermarket and service offering, which currently accounts for about 30 percent of sales, constitutes a significant and stable source of revenue with healthy profitability. The share of advanced mask writers in Pattern Generators is greater than ever following the system deliveries of recent years to meet the ongoing shift in technology in the display industry. At the same time most customers choose to sign a service agreement to ensure production stability, productivity and a high level of service. For Assembly Solutions, the aftermarket offering constitutes one of the synergies we are striving to realize in our acquired companies, where there is potential to develop the aftermarket and service offering.

Mycronic has a solid foundation for continued growth. The global electronics industry is growing and the outlook is favorable for innovative players, such as Mycronic. The company’s strategy stands firm and together with customers and other key stakeholders, we will continue to develop unique production solutions. It is exciting to be a part of the future of the electronics industry, where production equipment must meet customer needs for flexibility, quality and stability while also facilitating the transition to more sustainable electronics production.

Anders Lindqvist, President and CEO

Financial information
Mycronic AB (publ) is listed on NASDAQ Stockholm, Mid Cap, MYCR. The information in this report is published in accordance with the EU Market Abuse Regulation and the Swedish Securities Act. The information was submitted for publication, through the contact persons stated below on July 17, 2019, at 8:00 a.m.

Financial reports and press releases are published in Swedish and English and are available on www.mycronic.com.

 

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:: Elements of Indium by Indium Corporation: Malleability

In celebration of Indium Corporation’s 85th anniversary, the company will release monthly installments of the Elements of Indium Series—an educational program to raise awareness of the unique applications, abundance, and interesting properties of the 49th element.

Indium Corporation is the global leader for indium metal and associated technologies. Because of its unique properties with virtually limitless applications, indium metal is literally all around us.

Indium is a soft and malleable metal that stretches with the metal it’s soldered to. This makes it the perfect solder for joining two metals in order to avoid coefficient of thermal expansion (CTE) mismatch.

CTE mismatch occurs when solder joints containing two different metals expand at different rates. This stress on the solder joint can cause it to crack upon cooling, resulting in the failure of the device.

For more information on indium metal, visit www.indium.com/indium49.

Indium Corporation is a premier materials manufacturer and supplier to the global electronics, semiconductor, thin-film, and thermal management markets. Products include solders and fluxes; brazes; thermal interface materials; sputtering targets; indium, gallium, germanium, and tin metals and inorganic compounds; and NanoFoil®. Founded in 1934, the company has global technical support and factories located in China, Malaysia, Singapore, South Korea, the United Kingdom, and the USA.

For more information about Indium Corporation, visit www.indium.com or email abrown@indium.com. You can also follow our experts, From One Engineer To Another® (#FOETA), at www.facebook.com/indium or @IndiumCorp.

 

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:: Issue 246 ::
July 19, 2019

Presidio Components

Gannon & Scott

TopLine