Texas Instruments takes bids for sale of defense unit
Article Abstract:
Texas Instruments continues to accept bids on its defense unit, and the unit's sale may reduce the company's debt, but it will leave Texas Instruments more reliant on the cyclical nature of the semiconductor industry. Analysts estimate that the defense unit's purchase price will be about $2 billion. The division makes aircraft and missile guidance and detection systems and night-vision devices, among others. In 1996, the unit is profitable, but it is not growing. In 1995, the defense unit had sales of $1.7 billion, making up 13% of Texas Instruments' total income. The 1995 sales reflect a slight increase following declines caused by defense cutbacks in the 1990s. Texas Instrument's semiconductor sales rise about 15% each year, but construction and research and development have damaged the company's balance sheet. The sale of the defense unit continues the consolidation occurring in the defense electronics business.
Publication Name: The New York Times
Subject: Business, general
ISSN: 0362-4331
Year: 1996
User Contributions:
Comment about this article or add new information about this topic:
Texas Instruments passes over two in naming chief
Article Abstract:
Texas Instruments (TI) has named Thomas J. Engibous as its new president and CEO. Engibous, who previously managed the company's semiconductor division, replaces Jerry R. Junkins, who recently died of a heart attack. Engibous was also appointed as a member of the company's board of directors. Junkins other position as chairman was given to board member James R. Adams. TI passed over two high-ranking executives in selecting Engibous as its new leader, a bold move that surprised many industry analysts. TI's semiconductor division has increased its market share every year since Engibous assumed its direction in 1993. The company has experienced declining profit margins and falling prices in the semiconductor market, but remains committed to expanding its output capacity. TI also manufactures laptop computers, calculators and military electronics equipment.
Publication Name: The New York Times
Subject: Business, general
ISSN: 0362-4331
Year: 1996
User Contributions:
Comment about this article or add new information about this topic:
After taking some recent lumps, Texas Instruments may be poised for an upturn
Article Abstract:
Texas Instruments CEO Thomas J. Engibous is shifting the company from its dependence on the PC industry in favor of digital signal processors. The move apparently is showing investors that the company has positioned itself better to handle the present troubles afflicting semiconductor stocks. Full 1998 and 1999 projections appear to offset Texas Instruments' warning of a weak 1st qtr 1998. A recovery in memory chip prices and a rebounding Asian economy will help semiconductor industry revenue growth improve from 4% in 1997 to 10% in 1998 and 20% to 35% in 1999, according to Texas Instruments. Telecommunications manufacturers such as Nokia and Ericsson represent the largest customers for Texas Instruments' chips that can power products ranging from cellular telephones, computer networking equipment and cars.
Publication Name: The New York Times
Subject: Business, general
ISSN: 0362-4331
Year: 1998
User Contributions:
Comment about this article or add new information about this topic:
- Abstracts: H&R Block is close to sale of CompuServe stake. A hot strategy: Declare yourself an Internet firm
- Abstracts: Santa brought many gizmos for the Internet. Texas Instruments is ready to launch 2 new notebook computers next week
- Abstracts: Texas Instruments claims victory in advanced-chip dispute. I.B.M. and Digital describe entrants in chip-speed race
- Abstracts: Corporate restructuring in Russian privatizations: implications for U.S. investors. Revitalizing privatized Russian enterprises