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© Elcoteq Electronics Production | September 21, 2011

Elcoteq Network S.A. files for bankruptcy

Another Elcoteq subsidiary - Elcoteq Network S.A. - has filed for bankruptcy. The parent will continue the controlled management process.
Elcoteq SE's subsidiary, Elcoteq Network S.A.,which has been in charge of the group's material purchases and customer invoicing in Europe, has today filed for bankruptcy.

Elcoteq Network S.A.'s payment transactions have been blocked as a consequence of the revolving credit facility lenders' continued enforcement actions.

Therefore Elcoteq Network S.A.is no longer able to continue its activities and has been forced to file for bankruptcy.

The parent company, Elcoteq SE, continues the controlled management process in Luxembourg.

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