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© dr911 dreamstime.com Electronics Production | May 02, 2018

AQ Manufacturing shuts down in Thailand

AQ Manufacturing Co., Ltd is starting the process to close down the manufacturing site in Samutprakarn, Thailand. The background to the closure is that the company has generated losses since the inception in 2015.
Since the business volumes from customers mainly operating in extremely competitive telecom and consumer electronics market show negative trends the company doesn't see a profitable future. The manufacturing can be moved to other companies in the group, mainly to AQ Holmbergs Suzhou in China, to secure deliveries to the customers.

“The volume we could see when we decided to enter the Thai market has been decreasing every year.”, says Claes Mellgren, CEO of AQ Group.

AQ Manufacturing Co., Ltd has 43 employees in Thailand and its turnover is less than one percent of the Group's turnover.

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September 17 2018 3:35 pm V10.9.3-2