Dow Chemical Acquires 100% Stake in Dow Corning

Expecting more than $1 billion in additional annual EBITDA at full run-rate synergies. Transaction is expected to yield more than $1 billion in additional annual EBITDA at full run-rate synergies and is expected to be accretive to Operating EPS, cash flow from operations and free cash flow in the first full year after the close of the transaction. Combination deepens Dow’s portfolio in attractive end use applications such as building and construction, consumer care, and automotive.
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Cree Restructures LED Business

Cree, a market leader in LED lighting, today announced that the board of directors has approved the following: A restructuring of the LED Products business A $500 million stock buyback authorization for fiscal year 2016 The fiscal year 2016 annual operating plan that targets: Revenue to increase to $1.8 billion +/- Non-GAAP operating margin increasing to approximately 8% Free cash flow of approximately $75 million
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Panasonic Shuts Down Fluorescent Light Production in Indonesia

Panasonic intends to halt fluorescent lights in Indonesia by the end of June 2015, and will be laying off about 700 employees at the plant, reported Nikkei Asian Review.
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Sharp Restructure to Entail Mihara Plant Shutdown

Struggling Japanese electronic manufacturer Sharp will be shutting down its Mihara Electronic Component Plant, according to a latest Chinese-language Nikkei report.
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Osram Plans to Slash 7,800 Jobs as Traditional Lighting Business Shrivels Up

Osram stated in its recent 3Q14 financial earnings press release intentions of implementing various additional measures to further improve the competitiveness of its operating units. The associated capacity adjustments of about 7,800 positions worldwide over the next three fiscal years. A Reuter’s report noted 1,700 positions in Germany would be affected, while the remaining 6,100 job cuts will be directed towards other global jobs. Depending on the implementation speed of the measures and the restructuring costs’ effect on earnings, the reported EBITA margin could be below the targeted 8 percent EBITA margin in the fiscal year 2015. Below is Osram's financial report for 3Q14.
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Zumtobel Axes Jobs to Improve Margins

Zumtobel announced plans of slashing 600 jobs, about 8 percent of its workforce to double operating profit margin by 2016 to 2017 and stay competitive against Asian manufacturers, according to a Reuters report.
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Osram to Restructure Lighting Business

German lighting manufacturer Osram Licht will be facing more challenges in 2014 as the company restructures its lighting business, according to a report by Reuters.
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Lumileds introduced the LUXEON CZ Color Line, a product line optimized to deliver maximum punch. “The LUXEON CZ features up to 48% higher punch than any other undomed color LED,” said Jennifer Holland, Product Line Direct... READ MORE

LG Innotek today announced that it has supplied UV LED module for water purifiers to the famous Japanese purifier manufacturer for the past year and achieved the perfect quality of zero defect rate.