Natsteel Electronics Ltd

Solectron Corp., the world's biggest maker of electronics parts for other companies, agreed Tuesday to buy Singapore-based NatSteel Electronics Ltd. for $2.4 billion in cash, giving it a crucial boost in its presence in Asia. The deal is Solectron's biggest purchase of an electronic manufacturing services company and would strengthen its presence in Europe and the Americas as well as Asia, the company said.

Solectron Corp., the world's biggest maker of electronics parts for other companies, agreed Tuesday to buy Singapore-based NatSteel Electronics Ltd. for $2.4 billion in cash, giving it a crucial boost in its presence in Asia. The deal is Solectron's biggest purchase of an electronic manufacturing services company and would strengthen its presence in Europe and the Americas as well as Asia, the company said.

Western Digital Corp., the world's third-largest computer disk-drive maker, may move 70% of its manufacturing operations from Singapore to neighboring Malaysia by September, dealing a blow to the island state's electronics industry, Singapore's Business Times reported. The Irvine-based company's factory in eastern Singapore is expected to retain the production of high-end drives, which made up less than 5% of the 5.1 million drives it made in the March quarter.