Electronics Production | October 28, 2009
Elcoteq customers withheld orders until balance sheet has been restructured
EMS provider Elcoteq has continued to adjust its operations to lower volumes, but it has at the same time maintained its global platform to serve customers close to their end markets.
There are good business opportunities and demand for the services Elcoteq provides, but customers have withheld their orders until the company's balance sheet has been restructured and the existing credit facility is refinanced. In the light of the current volatile market situation, the company will continue to seek further potential for cost base improvements.