Electronics Production |
Balda moves production from Germany to Asia
The German mobile phone supplier Balda will move production from Germany to Asia. The move is said to assist the restructuring and reduce the staggering losses in 2007.
However, the holding will still be headquartered in Bad Oeynhausen, Germany, reports the German Press Agency dpa. "We focus on our core areas and the growth market in Asia”, said Balda’s CEO Joachim Gut yesterday in Frankfurt/Main, Germany. The company also plans to sell the medical technology segment, which is also headquartered in Germany. As evertiq reported earlier, the Balda-Group has further increased losses in 2007 by more than 70% to €73.3 million, compared to 2006.
