PCB | August 02, 2007
PCB Division Forces GPV in the Red
Denmark based EMS- and PCB-provider GPV Industry A/S presented a loss on 6.3 Million Euros for its full year 2006-2007 blaming relocation of orders to Asia.
In its previous year GPV made a profit of 1.7 Million Euros. GPV made a loss this year even though a higher turnover compared to last year. The turnover during this year was 160 Million Euros compared to 130 Million Euros in the previous year. The electronics manufacturing division is the only profitable division. The other divisions Mechanical and Printed Circuit Boards both made eight figure losses respectively. The PCB division's loss for the year was 3.6 Million Euros compared with 175.000 Euros loss last year. However GPV said their PCB unit in China is doing progression. In June GPV sold four of their buildings in Denmark. They are now leasing the buildings instead. This will accordingly help GPV back to profit in the next year. GPV projects a profit of 12-15 Million Euros in its next year 2007-2008. OEM-firms ABB, Danfoss, Grundfos, Park Air, Philips Medical Equipment, Raytheon, Thales, Terma, Vestas and Volvo are among GPV's most important clients.