Electronics Production | October 24, 2007
Elcoteq may sell European production
evertiq.com reported earlier today that Finland based EMS provider Elcoteq's net sales in January - September 2007 were 2,980.5 million euros (3,179.7 million euros in January - September 2006). Now the company may sell off production capacity in Europe.
The company may sell off production capacity in Europe as it doubles up efforts to turn in a profit next year. This decision came after Elcoteq has taken less then expected orders from a key customer. During this year Elcoteq has already cut several hundred jobs and shut production plants. According to the company it will cut down or divest production capacity, particularly in Europe. In Europe demand has slumped according to Elcoteq.