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PCB | August 02, 2005

Videoton transfer staff from<br> PCB to TV-set production

The Hungarian based PCB producer VT-Circuits Kft has accrued significant arrears. The 80% Videoton - 20% Engineering GmbH owned company may soon be undergoing liquidation.

This was confirmed by Hungarian EMS Provider Videoton Holding Rt. CEO Ottó Sinkó. The company is expected to cease operations by the end of August, due to increased competition from China. The 185 employees will be offered new positions within Videoton. Most of them in the company's TV-set division. Videoton has reached an agreement with a TV producer that it would produce 10,000 TV-sets at the site in Hungarian Székesfehérvár.
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