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Electronics Production | September 16, 2011

HPI Electronics & Cables files for bankrupcy

The Board of Danish EMS-provider HPI has decided that it is no longer possible to run the company. HPI has filed for bankruptcy and plans to liquidate the business.
HPI had an operating loss of DKK 9,2 million (EUR 1.2 million) in 2010. They have since then not managed to reverse the trend and current operations are no longer possible. All employees at the company's facility in Korsør have been notified.

CEO Martin Rambusch states: "To the employees and other affected; I deeply regret that we have come to this point. We will complete the liquidation as quickly and accurately as possible. I do not have any further comments."

HPI Electronics & Cables A/S is said to currently have 150 staff.

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