Nortech Systems | August 31, 2020
Nortech Systems Incorporated, a leading provider of engineering and manufacturing solutions for complex electromedical and electromechanical products serving the medical, aerospace & defense and industrial markets, announced that it has completed the sale and leaseback transactions for its manufacturing facilities in Bemidji and Mankato, Minnesota at a sale price of $6.3 million. The proceeds from the sale will be used to pay down debt as well as related expenses and taxes.
Concurrent with the closing on the sale, Nortech entered into long-term lease agreements for the Bemidji and Mankato, Minnesota facilities for an initial 15-year term, with multiple renewal options. "We are pleased with the successful execution of this sale and leaseback transaction which generated significant net cash proceeds. Following the debt repayment, Nortech’s balance sheet and working capital is positioned for investments in capital equipment and strategic initiatives," stated Jay D. Miller, Chief Executive Officer and President.
New World Economics | June 24, 2020
Cliff Waldman, whose respected research has solidified his reputation as one of the leading experts on manufacturing, has launched the consulting firm New World Economics (www.newworldecon.com). Through its products and services New World Economics provides much-needed clarity and guidance for manufacturers at this time of massive economic uncertainty and ongoing disruptions in all facets of manufacturing life.
"My vision, developed over the past two years, is to leverage the tools of economics in conjunction with the rapidly evolving techniques of data science to create a professional services firm that will be a crucial asset for decision making in the factory sector," said Waldman. "In these early days of our new company, this vision has powered our success with clients and will be our driving force going forward," he added.
LX Semicon | September 09, 2021
LX Semicon, a fabless semiconductor provider is on track to take Microsoft 3D sensing technology for next generation solutions across industries starting with IoT and autonomous mobile robots.
LX Semicon, established in 1999, a leading fabless semiconductor company is making aggressive investments in high-quality R&D resources and innovative technologies to address the needs facing 4th Industrial Revolution. LX Semicon has made a strategic decision to collaborate with Microsoft in developing 3D sensing solutions to be applied in new applications for IoT, logistics, and automobiles.
The semiconductor industry is entering an era where people and machines need to interact in new ways, which requires advanced sensing and AI. The multi-sensors technologies needed to support such interactions
include vision sensors aimed at providing machines the ability to see in 3D, audio sensors to process voice commands, MCUs to calculate and process data converted from sensors to digital signals, communication chips to drive interactivity between various devices, and Artificial Intelligence to mesh the data coming from multi-sensor systems, make recommendations and take relevant actions.
Microsoft's ToF sensing technology is well known in the imaging world for its unparallel accuracy, resolution, and precision to understand the environment in which it operates. This technology has proven itself in large scale deployments, powering depth sensing in Microsoft's products such as Kinect in gaming, HoloLens in Mixed Reality and Azure Kinect. Microsoft's decision to open up this technology to the broad ecosystem empowers semiconductors to apply it across multiple scenarios in manufacturing, robotics, automotive, IoT and more.
The collaboration between LX Semicon and Microsoft is going to accelerate LX Semicon's sensing solutions' time to market with IP, know-how, guidance and advanced depth processing software developed by Microsoft for over two decades. LX Semicon joins the Microsoft Azure Depth Platform program as a leading semiconductor strategic partner for 3D solution.
Chae Lee, Senior Vice President of LX Semicon - "Solving Industry 4.0 challenges demands semiconductor companies to drive constant innovation with new cutting-edge technologies in order to stay ahead in a fast moving space. Our collaboration with Microsoft is going to accelerate the R&D for 3D & AI technologies and position LX Semicon as a leader in machine vision solutions."
Cyrus Bamji, Partner Hardware architect at Microsoft' silicon & sensors group – "The collaboration with LX Semicon is an important step in our journey to expand the semiconductor ecosystem for Azure Depth Platform. We are excited to work with LX Semicon's R&D team combining their extensive experience in mobile and automotive with our ToF expertise to create industry solutions powered by 3D vision & AI".
About LX Semicon
LX Semicon Co., Ltd. designs, develops, and markets mixed-signal semiconductors. The Company utilizes its own algorithm and technologies to enhance the features and capabilities of flat panel displays that are used in electronic devices and mobile handsets. LX Semicon markets its products worldwide.