| China Co. to Invest $71M in Elcoteq |
 |
 |
| Written by Chelsey Drysdale | |||
| Wednesday, 22 July 2009 11:51 | |||
|
HELSINKI – Ailing EMS firm Elcoteq will receive a cash infusion of China-based Kaifa of up to 50 million euros ($71 million). In a press release today, Elcoteq said it would receive the cash from Kaifa, part of China Electronic Corp., in exchange for an undetermined number of shares. The deal would make CEC its largest shareholder, with a stake of at least 30%. The total size of the investment depends on the successful restructuring of Elcoteq's debt, with a final agreement expected to be signed in the third quarter. The world’s sixth largest EMS company at the end of 2008, Elcoteq’s second-quarter sales dropped more than 50% to 436 million euros and the company posted an operating loss of 11.5 million euros in the second quarter. It was hurt by Nokia’s decision to build products in-house for the foreseeable future. CEC has been Elcoteq's joint-venture partner in China since 2002. .
|
Columns
| What’s Driving Electronics Packaging and Assembly Trends? |
Multi-die configurations and a switch to copper wires are rampant, and supercomputers are why. |
| Read more... |
| Bridging at Reflow |
What causes it, and can it be eliminated? |
| Read more... |
Features
| Current Trends in Conformal Coatings |
Custom formulations have become the norm. |
| Read more... |
| The Worldwide Industrial Electronics Assembly Markets Defined |
Test, clean energy and process control represent huge potential for EMS. |
| Read more... |
Search
Search
Login
CB Login
Language
Language
Products
Corelis Releases ScanExpress v. 7.7 Boundary Scan Suite
ScanExpress version 7.7 boundary scan tool suite includes improved constraints handling, support for multi-core devices, and new JTAG Embedded Test support for additional Freescale and Texas...
ScanExpress version 7.7 boundary scan tool suite includes improved constraints handling, support for multi-core devices, and new JTAG Embedded Test support for additional Freescale and Texas...
