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Electronics Production |
Scanfil sells Partnertech Karlskoga subsidiary
The board of EMS provider Scanfil Sweden AB has decided to sell the entire share capital of its subsidiary PartnerTech Karlskoga AB, located in Karlskoga, Sweden, for a nominal selling price.
The transaction will result in a non-recurring loss of approximately EUR 5 million for the Scanfil Group and reduce group net debt by approximately EUR 2 million, which will be posted in the second quarter of 2016.
PartnerTech Karlskoga AB manufactures machined products for the defense, maritime and offshore sectors. Turnover of subsidiary in 2015 was EUR 15.4 million and operating loss EUR 1.3 million. The operations of the plant will be closed down in May 2016.
After the sale of PartnerTech Karlskoga AB the restructuring of entire Metal Precision business has been completed. The turnover of Metal Precision business in 2015 totaled EUR 25.0 million and operating loss EUR 6.1 million.
