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© Aros Quality Group Electronics Production | July 18, 2011

AQ Wiring Systems affected by customer bankruptcy

AQ Wiring Systems, former Swedish manufacturer TVAB, reports a bad debt loss of SEK 1 million in 1H/2011 (January / June).

Updated; July 18, 2011 9:49 PM
This was attributed to a foreign customer going bankrupt. AQ Wiring Systems has production facilities in Łodz (Poland), Godech (Bulgaria) and Suzhou (China). The cable and cable harness manufacturer employs 420 staff at their main location in Poland. Update: Correction on statement. "We have booked a loss on receivables from one customer that has filed for bankruptcy. The overall result was positive and in line with plan", states Per Axell (Managing Director). ----- Note: SEK 1 = EUR 0.11
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