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Electronics Production | October 21, 2005

TT electronics announce rationalisation

At the recent announcement of the interim results it was stated that the group's European based climate control business had had a difficult first half year and that it was intended to rationalise operations.

The group has commenced this restructuring process at its French business and is working within the local regulatory procedures. This process is likely to be concluded during the first half of 2006 following which the group will eliminate these losses. John Newman, Executive Chairman, said "In line with our strategy TT electronics continues to rationalise loss making businesses and exit non-core operations. This year we have already closed the power cables division located at Gravesend, reduced activities at Prestwick Circuits Limited our Scottish based printed circuit board plant and sold our ground power business Houchin Ltd. This restructuring is a further example of management action being taken to enhance group profitability."
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