News
NORTH YORKSHIRE, UK – Eleven staff at GSPK Electronics have been let go after the company was placed in administration.
Mark Firmin and Richard Fleming of KPMG were appointed joint administrators of GSPK Electronics on Friday.
A spokesman said it’s too early to say if there will be any further job losses among the remaining 104 staff.
Firmin said the business has been hit by a significant overseas bad debt and does not have sufficient funding to continue trading outside of bankruptcy.
GSPK manufactures electronics products for the television, telecommunications and automotive sectors.
Mark Firmin and Richard Fleming of KPMG were appointed joint administrators of GSPK Electronics on Friday.
A spokesman said it’s too early to say if there will be any further job losses among the remaining 104 staff.
Firmin said the business has been hit by a significant overseas bad debt and does not have sufficient funding to continue trading outside of bankruptcy.
GSPK manufactures electronics products for the television, telecommunications and automotive sectors.
HOOFDDORP, THE NETHERLANDS and SALT LAKE CITY, UT – Basell will purchase chemicals giant Huntsman Corp. in a deal valued at approximately $9.6 billion, including assumption of debt. The boards for both companies have unanimously approved the deal.
ADDISON, TX – Interconnect supplier AirBorn has acquired StrataFlex and Central Minnesota Tool. Terms of the transactions were not disclosed.
Toronto-based StrataFLEX designs and manufactures flexible printed circuits and assemblies for the military/aerospace, medical instrumentation and industrial markets.
Little Falls, MN-based CMT provides turnkey stamping, moldings and automation capability for assembly, for automotive, military/aerospace, medical instrumentation and telecom.
“This is a significant step forward for AirBorn,” says Cindy Lewis, president and CEO of AirBorn, in a statement. “Growth in the flex circuit market has outpaced growth in standard connectors."
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