Electronics Production | January 14, 2008
Elcoteq received approval for the<br>sale of its German subsidiary
The German competition authorities have approved sale of Elcoteq's German subsidiary Elcoteq Communications Technology GmbH to BAVARIA Industriekapital AG. The closing of the deal has taken place today.
Elcoteq announced in December 2007 that it will rationalize its production capacity and divest its subsidiary in Germany, Offenburg, as part of its global action plan. The sale was subject to the German competition authorities' approval, which has now been received.