Telemetrix Plc reports that its wholly-owned specialist semiconductor subsdiary Zetex Ltd has bought a plant and its equipment in Neuhaus in the former East Germany. The company bought the property from the Treuhandanstalt agency responsible for disposing of the bankrupt businesses in the former East Germany, and it paid a nominal one mark for it. Telemetrix believes the market value is about UKP1.0m, but Zetex is committed to employ 68 out of a total workforce of 90 for three years, and to make new investment in plant over the same period of UKP500,000. The plant will be used for assembly of discrete surface mount semiconductors.
