Efore to outsource manufacturing of China plant to Wuxi Hodgen Technology

Both parties have agreed that required official permits and other practical arrangements would be completed during September. The target is to finalize the actions according to the agreement by the end of September. This agreement aims to enable Efore to increase focus on its core competency, which is developing power solutions for its customers. This relationship will also release capital allowing Efore to invest in its core business and also facilitate structural changes. According to the agreement Hodgen will continue manufacturing in Efore’s current production facility in Suzhou. Efore will remain responsible for the quality of the delivered products as well as for the NPI (New Product Introduction) process. This arrangement is said to be a key part of Efore’s strategy and will allow Efore to become a company focused on the product development of demanding power products. At the same time the outsourcing will significantly reduce operational costs.