Electronics Production |
MFS Singapore terminated<br>alliance with Ruwel
The Board of Directors of MFS Technology Ltd would like to announce that its subsidiary, MFS Singapore ("MFSS") has terminated the strategic alliance entered into under the protocol Agreement dated 25 August 1997 and subsequent addendum dated 25th March 1999.
As at 30 September 2005, the total sales to Ruwel were 0.01% of the Group's turnover. The termination will have no significant impact on the earnings per share and net tangible asset per share of the Group.
MFS is one-stop providers of flexible printed circuits ("FPCs") interconnect solutions engaged in design, manufacture and distribution of a wide spectrum of FPCs with the expertise to provide the corresponding turnkey component assembly and application engineering services.
Ruwel is a company based in Germany and is one of the leading FPC and rigid PCB manufacturers in Europe. Under the Agreement, MFS granted to Ruwel, the exclusive right to market certain MFS products as set out in the Agreement, in Europe, Israel and South Africa (the "Contract Field").
