Matsushita announces plans to discontinue operations at its subsidiary Panasonic AVC Networks Germany at the end of March 2007, after which it will begin closing/liquidation procedures.

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Panasonic AVC Networks (151 employees) mainly responsible for the manufacture and product development for the European DVD recorder market, currently faces ever-intensifying global competition and severe price declines. Under these circumstances, Matsushita decided this closing as part of the company’s global restructuring initiatives in the DVD recorder business. Accordingly, future product development of DVD recorders for the European market will be shifted to Japan. Matsushita will continue production for the European DVD recorder market at Panasonic AVC Networks Slovakia its consolidated subsidiary.

The Pilot Scientific and Technical Center of Excellence for Nanotechnology Development opens officially in Moscow on June 3, 2006. The multi-million dollar center is being funded by the Russian Federation. It is anticipated that Russia's overall investment in nanotechnology development will exceed $400 million in 2007. Globally, combined government investment in nanotechnology development is expected to reach $5 billion in 2006. Private investments by corporations are expected to exceed the government number for the first time ever, reaching nearly $6 billion this year.

The strong technology ramp-up continues in the Czech Republic with news that Hitachi, Panasonic, Toshiba and Hewlett-Packard are investing millions of euros in new production facilities in the central European nation.

IPS Alpha, a strategic alliance between Hitachi, Panasonic and Toshiba, announced it will invest over 90 million euros and employ up to 2,000 people in a new Czech liquid crystal display (LCD) production facility. IPS Alpha plans to begin production in its new facility in Bohemia summer 2007 and will supply Matsushita and Hitachi plants in Europe.

In total, 166 Japanese companies have operations in the Czech Republic. According to the Japan External Trade Organization, Japanese manufacturers operated 65 production bases in the Czech Republic as of year-end 2005 -- the fourth-highest number for a European country.

Meanwhile, Hewlett-Packard also announced the opening of its Czech-based computer technology supply chain headquarters for Europe, the Middle East and Africa. The new facility near Prague supports HP's European headquarters in Grenoble, France. Some 100 new jobs will be created by the expansion.

Foreign direct investment (FDI) in the Czech Republic doubled between 2004 to 2005, from $4.9 billion to $11 billion. CzechInvest, the Czech Republic's business and development agency, mediated a record of 154 new foreign and domestic investment projects in 2005. CzechInvest projects contributed $3.2 billion to the Czech economy.

Thales and Diehl signed an agreement on the formation of Junghans Microtec combining their expertise in ammunition electronics and precision mechanics to establish one of the world’s leading fuze suppliers.

The company will specialize in the development, production and marketing of ammunition fuzes and safety devices. Following approval by the anti-trust authorities, the corporate division Diehl VA Systeme and Thales subsidiary TDA will hold 51% and 49% of the company shares respectively.

Junghans Microtec will concentrate its resources at La Ferté Saint Aubin, France, and at its new headquarters in Duningen-Seedorf, Germany, where Diehl is currently investing in the expansion and modernization of its facilities. With initially 350 employees, the new company intends to achieve annual sales of €70 M.

The Korean government has given its final approval for the launch of the new KHP military transport helicopter, developed in cooperation with Eurocopter. For an estimated total amount of 6 to 8 billion USD, this program which concerns 245 helicopters, represents the largest defense contract ever signed between a European company and South Korea. Korea Aerospace Industry (KAI) will be the main contractor for this program. As first partner of KAI, Eurocopter will provide technical assistance for the development of the aircraft as well as certain sub-assemblies during the production phase. In addition, the agreement between the two companies makes provision for the export marketing of this helicopter via a joint company. The estimated contract is in the order of 300 helicopters.

Wavecom, French supplier in pre-packaged wireless communications solutions for automotive, industrial (machine-to-machine) and mobile professional applications, announced its acquisition of NexGen Software, France-based software company specializing in TCP/IP internet software.

NexGen Software brings to Wavecom its internally-developed TCP/IP (internet) suite of protocol stacks and internet software expertise along with a worldwide customer base of over 100.

NexGen Software was founded in 1999 and operated profitably in 2005. The acquisition is a cash transaction of EUR 400,000.

Philips announced it has signed a definitive agreement with Intermagnetics under which Philips will acquire Intermagnetics for USD 1.3 billion (EUR 1 billion) to be paid in cash upon completion. Intermagnetics develops, manufactures and markets high-field superconducting magnets used in magnetic resonance imaging (MRI) systems. Intermagnetics employs approximately 1150 people. Magnetic resonance imaging is one of the key imaging technologies in radiology departments in hospitals. In 2005, total MRI market was approximately EUR 5 billion.

Diebold, the world's largest maker of automatic teller machines (ATM), has decided to move its manufacturing facility from Cassis, France to Hungary to cut manufacturing costs. Diebold’s plant in Cassis employs 135 workers.

Telit Communications, Italian wireless communications developer and distributor, announced the acquisition of 75% of Bellwave m2m, a South Korean wireless communications developer of machine to machine modules, in a cash transaction totalling US$6.18M. Bellwave's m2m business has generated some $21M revenue in 2005 with dominant market share in South Korea close to 50%.

Bellwave m2m, which developed and marketed the world's smallest CDMA data communications module, has currently 40 employees. The combination of the two entities will create a new force in the m2m market, capable of servicing all CDMA and GSM and in a future also WCDMA markets, on a global basis. Telit ranks as the third largest supplier of wireless M2M modules on the European market behind Siemens and Wavecom.

French start-up Tedemis, a partner for mobile manufacturers to penetrate new markets and for brands to create value by developing a new territory in the booming market of mobile handsets and services, named Simon Gazikian as CEO. Previously, Simon Gazikian was sales vice-president a Esmertec.

Edgeware (Stockholm, Sweden), a start-up company that is offering servers for video-on-demand based on flash rather than magnetic memory, has raised 18 million Swedish krone (about $2.4 million).

Motorola has completed its previously announced acquisition of a development center in Denmark, from BenQ. By this acquisition Motorola is doubling its organization in Denmark which becomes one of its R&D and development hubs in the region. As part of the transaction, Motorola is acquiring approximately 250 employees, the majority of whom are engineers. The new Motorola-team in Aalborg will play an important role in Motorola Mobile Devices global R&D organisation.

Indian IT Services group Wipro Technologies has signed an agreement to acquire the Finland based Saraware in an all cash deal for Euro 25 Million. Saraware, a 21 year old company, provides Design and Engineering services to Telecom companies. This acquisition adds expert domain competencies in the areas of radio networks and secure mobile platforms. Saraware has nearly 200 specialists in these domains based out of Finland.

Piero Martinotti, former corporate vice president of STMicroelectronics new ventures group is nominated as chairman of the board of Sensitive Object.
Sensitive Object was created in 2003 by scientists from CNRS and University of Paris 7, to promote an innovative new technology that can modify our comfort and convenience through the sense of touch. Company’s patented technology is based on a process of “time reversal acoustics,” which connects inexpensive sensors to the audio input of a computer, in a way that turns common objects into tactile screens, which are capable of relaying information with a simple “tap”.