Electronics Production | September 04, 2009
Elcoteq China investment can move forward
Finland based EMS provider Elcoteq said its debenture holders agreed to new terms, paving the way for an equity boost through an investment in Elcoteq China's Kaifa unit, Reuters said.
Elcoteq earlier said that its Chinese unit planned an investment of 50 million euros. The investment would be used to improve its balance sheet, according to the Reuters report. This would leave the Chinese units' largest shareholder with a stake of minimum 30 percent. Elcoteq said during a meeting in Helsinki that all proposed amendments were approved by the debenture holders except one.