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© jakub krechowicz dreamstime.com Electronics Production | March 25, 2013

SRI: Restructuring successful

The creditors of SRI Holding AG, SRI Radio Systems GmbH and SRI Logistics GmbH have agreed to the insolvency plans. The restructuring can - therefore - be completed after only 7 months. Approx. 310 jobs were saved.
In the insolvency proceedings for the companies within the SRI Group, all insolvency and restructuring plans were accepted during the creditors' meeting at the district court in Kempten on March 20, 2013. This means that conditions are met for TQ Group GmbH to enter as a strategic investor.

"We plan to establish SRI as an independent site within the TQ Group focusing on telecommunications, automotive and other growth sectors. Through close cooperation with TQ-Systems, customer and market potential as well as existing customer relationships can be better utilised. Since 1994, TQ has almost continuously grown in double digits per year. However, a lot of potentials could not be realised due to limited resources. By working with SRI, will succeed better and therefore generate further growth", announce the two TQ general managers Detlef Schneider and Rüdiger Stahl.

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