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Electronics Production | May 13, 2008

Update: Balda sells European Infocom-activities

Balda has sold the European Infocom-Business, which it has just bought back at the beginning of the year. However, future of Hugarian operations is uncertain.
This is part of a 'asset deal'-transaction with economic affect from May 01, 2008. The operations were bought by Heinze Solutions, part of the Hanse Industriekapital-Beteiligungs-GmbH (HanseIK).

This sale regards the operations of Balda Solutions Deutschland in Bad Oeynhausen. Additional to that, the operations of Balda Werkzeugbau in Bad Oeynhausen have been sold to Heinze Werkzeugbau, reports dpa.

No further details regarding the purchase have been released. Not the companies as such have been sold, but rather its assets, reports the dpa-AFX. This means that machines, stock and around 400 employees have changed to the new owners.

However, the company made no specific statements about the Hungarian production, which was not part of the deal. According to dpa-AFX is liquidation the most viable option. Staff numbers have already been cut to 30.

Balda is said to concentrate the production in Asia and is continuing to expand the business segment of Touch-Activated Screens. However, the Q1/08 was affected by the changeover to new products. The 2nd half of the year is estimated to generate better results.

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