Orange County Business Journal


Recent and archived news stories on: Aerospace, Agribusiness, Chemicals, Electronics, Energy, Fabrication, Industrial, Plastics, Textiles...

Hyundai to Pay Penalty for Failing to Report Defect

Hyundai Motor America said it will pay a $17.4 million civil penalty and comply with the National Highway Traffic Safety Administration’s oversight requirements for failing to report in a timely manner a braking system defect that affected Hyundai Genesis vehicle model years 2009 to 2012.

By Mediha DiMartino August 8, 2014 10 a.m.   Share
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SA Manufacturer Bought by PE Firm

Santa-Ana based Garrison Manufacturing Inc. was acquired by Menlo Park-based private equity firm Salt Creek Capital.

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Hurley Founder to Retire

Hurley International LLC Chief Executive and Founder Bob Hurley is retiring from the company, according to parent company Nike Inc.

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Hyundai Recalls 470,000 Sonatas

Hyundai Motor America Inc. in Fountain Valley plans to recall about 470,000 Sonatas over a condition that might cause engines to stall, according to the U.S. National Highway Traffic Safety Administration.

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ICU Medical Buys N.J. Company

San Clemente-based ICU Medical Inc. said today that it was buying Excelsior Medical Corp. in Neptune, N.J. for $59.5 million.

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Allergan, Humana Teaming Up on Research

Allergan PLC, whose eye drug hub is located in Irvine, said today that it will collaborate with Louisville, Ky.-based insurer Humana Inc. on research that will include glaucoma and other eye diseases.

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UCI in $50M Water-Energy Project

The University of California-Irvine is part of a team that will study water use and energy production under a $50 million grant.

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New Boss for Aston Martin in Irvine

Aston Martin Lagonda Ltd., a British automaker that has its Americas region headquarters in Irvine, hired Laura Schwab to run its operations here.

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OC-Based Automakers’ Sales Up

Two of the four Orange County-based automakers beat the national sales pace for new vehicles in September, according to New Jersey-based market researcher Autodata Corp.

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Beijing Investor to Get 15% of Western Digital

Unisplendour Corp. Ltd. will invest about $3.8 billion in Western Digital Corp., taking a 15% stake in the Irvine-based storage products maker.A Beijing-based company will invest about $3.8 billion in Western Digital Corp., taking a 15% stake in the Irvine-based storage products maker.

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Fisker Changes Name to Karma

The former Fisker Automotive and Technology Group is now Karma Automotive.

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TTM to Shutter 3 Plants

TTM Technologies Inc. will shutter three manufacturing plants and lay off 550 workers as part of a global integration plan following its $927 million June acquisition of Viasystems Group Inc., the Costa Mesa-based printed circuit maker announced today.

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NextVR to Stream Democratic Debate

Laguna Beach-based startup NextVR will stream the Democratic presidential debate next month in Las Vegas on CNN, adding to its list of firsts in the developing virtual reality segment.

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Masimo Donates Equipment to Jordan

Irvine-based Masimo Corp. said today it will donate $5 million worth of its patient monitoring devices to Jordanian hospitals to assist them in providing healthcare to more than 1 million Syrian and Iraqi refugees.

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Disease Sensor Maker Gets $2.4M

Irvine-based PhageTech Inc. said it closed on $2.4 million in Series A financing to complete development and U.S. Food and Drug Administration approval for disease sensor technology and to commercialize a blood and urine test for bladder cancer.

Out of Ordinary for Newport Beach: Factory Upgrade

TECHNOLOGY: Chipmaker to put $15M or more into plant on Jamboree

Israel-based Tower Semiconductor Ltd. is investing $15 million to $20 million to upgrade its Newport Beach manufacturing plant to meet growing demand for new generations of chips for smartphones and other wireless devices.