Showing posts tagged 'fas'
10 February 2022
Latest electronic component factory openings
We’ve all heard about the shortages in standard components like semiconductors and chips. Cars, phones and computers, items we use every day, are no longer being produced at the speedy rate we’ve come to expect. The cause of this shortage is, in part, due to the COVID-19 pandemic.
To combat this shortage many electronic component manufacturers have announced the opening or development of new factories. This is especially noticeable in Europe and America, where production has often been outsourced to Asia in the past.
So who are the latest companies expanding operations, and how much are they spending? Check out our quick run-down of factories and when they should open:
Location: Ohio, USA
Completion date: 2025
Cost: $20 billion (£14.7 billion)
The latest, and possibly greatest, announcement on our list comes from Intel. The corporation revealed in January that they would be committing to building two chip manufacturing plants in New Albany, Ohio. The move is said to be due to supply chain issues with Intel’s manufacturers in Asia, and should boost the American industry with the creation of at least 3,000 jobs. Construction should begin this year.
Company: Samsung Electronics
Location: Texas, USA
Completion date: 2024
Cost: $17billion (£12.5billion)
The household name announced late last year that they would begin work on a new semiconductor-manufacturing plant in Taylor, Texas. The Korean company stated the project was Samsung’s largest single investment in America, and is due to be operational by the middle of 2024.
Location: Villach, Austria
Completion date: 2021
Cost: €1.6 billion (£1.3 billion)
After being in construction since 2018, Infineon’s Austrian plant became operational in September last year. The chip factory for power electronics, also called energy-saving chips, on 300-millimeter tin wafers began shipping three months ahead of schedule in 2021, and its main customer base will be in the automotive industry.
Location: Gdańsk, Poland
Completion date: 2022
Cost: $200 million (£148 million)
The Swedish battery manufacturer is expanding its operations with a new factory in Poland. While initial operations are supposed to begin this year producing 5 GWh of batteries, it hopes to further develop to produce 12 GWh in future. Northvolt has also just begun operations at its new battery factory in Skellefteå in Sweden.
Location: Hà Tĩnh, Vietnam
Completion date: 2022
Cost: $174 million (£128 million)
The Vietnamese electric vehicle manufacturer is due to start production at its new factory later this year, where it will produce lithium batteries for its electric cars and buses. The factory will be designed to produce 10,000 battery packs per year initially, but in a second phase the manufacturer said it will upgrade to 1 million battery packs annually. VinFast, a member of Vingroup, is also planning on expanding operations to America and Germany.
Company: EMD Electronics
Location: Arizona, USA
Product: Gas and chemical delivery systems
Completion date: 2022
Cost: $28 million (£20.7 million)
The member of the multinational Merck Group is expanding operations with the construction of a new factory in Phoenix, Arizona, to manufacture equipment for its Delivery Systems & Services business. The factory is due to be operational by the end of the year, and will produce GASGUARD and CHEMGUARD systems for the company.
A bright future
These electronic component factory openings signal a great increase in business, and will aide in the easing of the component crisis. But it will take a while for these fabs to be operational.
Can’t wait? Cyclops is there for all your electronic component needs. We have 30 years of expertise, and can help you where other suppliers cannot. Whether it’s day-to-day or obsolete electronic components, contact us today at firstname.lastname@example.org, or use the rapid enquiry form on our website.
03 November 2021
Incoterms (International Commercial Terms) are a set of trade rules issued by the International Chamber of Commerce to define the responsibilities of sellers and buyers globally to reduce confusion in cross-border trade.
Incoterms are 11 internationally recognised rules that define things like who is responsible for managing shipment and who is responsible for customs clearance. The aim is to enable smooth trade and transactions.
This article will provide an explainer of the 11 Incoterms.
Incoterms for Any Mode of Transport
There are seven Incoterms for Any Mode of Transport:
- EXW (Ex Works)- This Incoterm makes export clearance the responsibility of the buyer, except when the country overrules it by law (such as the U.S.).
- FCA (Free Carrier)- The seller is responsible for making the goods available at its own premises or at a named place. The seller is responsible for export clearance and security.
- CPT (Carriage Paid To)- The seller clears goods for transport and delivers them for shipment, assuming responsibility for delivery to the named destination.
- CIP (Carriage and Insurance Paid To)- The seller is responsible for delivery and insurance of delivery, after which risk transfers to the buyer.
- DAP (Delivered at Place)- The seller bears all risks associated with delivery but not unloading.
- DPU (Delivered at Place Unloaded)- The seller bears all risks associated with delivery and unloading.
- DDP (Delivered Duty Paid)- The seller bears all risks associated with customs duty and delivery, as well as unloading.
Incoterms for Sea and Inland Waterway Transport
There are four Incoterms for Sea and Inland Waterway Transport:
- FAS (Free Alongside Ship)- The seller clears goods for export and delivers them for shipment alongside the vessel, after which the buyer assumes responsibility.
- FOB (Free on Board)- The seller clears goods for export and delivers them for shipment on the vessel, after which the buyer assumes responsibility.
- CFR (Cost and Freight)- The seller clears goods for export and assumes responsibility up until the goods are loaded on the vessel.
- CIF (Cost, Insurance and Freight)- The seller clears goods for export and bears the cost of freight and insurance. Buyer assumes responsibility for unloading.
Incoterms are designed to clearly define who is responsible for goods at different points of importation and exportation.
When explicitly incorporated by parties into a sales contract, Incoterms become a legally enforceable part of that sales contract.
In each Incoterm, a statement is provided for the seller’s responsibility to provide goods and a commercial invoice. A corresponding statement stipulates that the buyer pay the price of goods as provided in the contract of sale.
The limitation with Incoterms is they do not address all conditions of a sale, and they do not address liability or dispute resolution. Instead, they are a framework that importers and exporters can use to ensure smooth transactions.
Enter Electronic Component part number below.