What's happening in markets
Staff -- Purchasing, 8/14/2003
- Fuel cell systems can be made to work using far less platinum or gold than previously thought, say researchers at Tufts University, touting their discovery that could cut considerably the cost and development time of the futuristic technology. Fuel cell systems, being developed as a replacement for the internal combustion engine, create electricity with little pollution by combining hydrogen and oxygen.
- Avnet has merged two business divisions in a cost-cutting move it expects will increase the company's competitiveness in the computer space and improve profitability. The $4 billion global computer and services division, which has yet to be named, will comprise Applied Computing, which distributes microprocessors, drives, and other building blocks for the white-box and embedded systems market, and Computer Marketing, which sells midrange servers, networking equipment and software.
- VLSI Research of San Jose, Calif., has raised slightly its forecast for the semiconductor equipment industry in 2003, projecting that the fabrication-tool market will grow 6.4% to $31.5 billion. The research firm originally had predicted that chip-equipment sales would grow 5.6% this year to $31.3 billion. Worldwide equipment bookings (new orders) were $2.6 billion in June, while billings (shipments) were at $2.65 billion.
- Electronic component market insiders still see 11% growth this year for integrated circuit sales. The rolling three-month average of the book-to-bill ratio reached 1.10 in June, up from 1.02 in May. Reason: Worldwide bookings were at $11.93 billion and billings were at $10.82 billion last month.
- Lower sales volume and slumping prices for the titanium dioxide chemical used as a white pigment in paints and paper have triggered an executive reorganization of major producer Millennium Chemicals, which also will move headquarters from Red Bank, N.J., to Hunt Valley, Md., in September. Chairman and president William M. Landuyt is out, replaced by company veterans Robert E. Lee and Warily H. Clark Jr.
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