Electronics Production | April 22, 2009

GPV with new structure

<em>detailed update</em>: GPV Industri A/S and six group eneterprises have decided to file for suspension of payments. At the same time the Group has changed its structure to the effect that GPV International A/S is now the parent company of the enterprises and activities that will constitute the new GPV going forward.
Going forward, the company will concentrate on two supplementary and to some extend integrated business areas:

- Electronics
- Mechanics

GPV will continue to be a complete outsourcing partner within Electronics and Mechanics, wheras PCB production will no longer be provided in-house. The Electronics division in Denmark, Thailand and Switzerland has performed strongly the last few years, growing both in sales and earning. The order intake and the number of inquiries have proved satisfactory even in the last couple of months. The Mechanics division in Denmark, Norway and Thailand has also seen a satisfactory development during the global economic downturn except for the lossmaking aerospace and defense orders, which are primarily manufactured by GPV Teknik. The order intake in GPV International A/S has been satisfactory in the most recent months. The continuing GPV will not be carrying on the loss-making activities from GPV Teknik A/S.

The PCB division has been assessed as a non-strategic area and is therefore no longer part of the GPV group going forward. Along with IFU - the Danish Industialization Fund for Development Countries, owing 30% of the shares in China - GPV will seek to find a good solution for the PCB factory in China, which is progressing well.


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