View all newsletters
Receive our newsletter - data, insights and analysis delivered to you
  1. Technology
December 30, 2008

Swedish manufacturing firm to divest in UK plant

PartnerTech’s Poole subsidiary to be acquired by the management

By CBR Staff Writer

PartnerTech, a contract manufacturing firm, will divest its stake in PartnerTech Poole, one of its three subsidiaries in the UK, as part of its industrial structuring.

The subsidiary will be acquired by its current management and awaits approval of a general meeting, scheduled to be held in January 2009.

PartnerTech manufactures products for the telecommunications, IT, engineering and medical technology sectors. The Swedish firm has plants in Sweden, Norway, Finland, Poland, the UK, the US and China. The Poole subsidiary manufactures printed circuit boards for the local markets.

PartnerTech group has reported net sales of SEK1,877m for the first nine months of 2008. While its operating profit was SEK9.2m, it has incurred a loss of SEK1.4m after tax. The company says that the Poole subsidiary contributes 3% of the total group sales.

The company has decided to divest in the Poole plant as it has been functioning under loss and lacks any strategic importance as other subsidiaries also manufacture printed circuit boards. PartnerTech has said that the divestment is not going to affect its earnings.

PartnerTech has implemented an action programme in 2007 after a decline in sales volume by 13% from the previous year. The structuring plan in 2007 included change of the CEO and elimination of 150 jobs in Sweden, Finland and the UK.

Content from our partners
Rethinking cloud: challenging assumptions, learning lessons
DTX Manchester welcomes leading tech talent from across the region and beyond
The hidden complexities of deploying AI in your business

Websites in our network
Select and enter your corporate email address Tech Monitor's research, insight and analysis examines the frontiers of digital transformation to help tech leaders navigate the future. Our Changelog newsletter delivers our best work to your inbox every week.
  • CIO
  • CTO
  • CISO
  • CSO
  • CFO
  • CDO
  • CEO
  • Architect Founder
  • MD
  • Director
  • Manager
  • Other
Visit our privacy policy for more information about our services, how Progressive Media Investments may use, process and share your personal data, including information on your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.
THANK YOU