BRUSSELS – IPTE will sell its money-losing PCB test division to two company shareholders for 2 million euros ($2.9 million) plus certain additional royalties, the firm announced today.

In a statement, IPTE said it would sell its automation business to Huub Baren and Vladimir Dobosch, whom together own about 34% of IPTE. Baren also is the company's founder.

The terms call for IPTE to receive an additional amount based on the division's profits through December 2012. The sale is subject to shareholder approval and is planned to close in the first quarter 2010.

IPTE plans to take a one-time fourth quarter charge of 17 million to 18 million euros. It is one of Europe's largest EMS companies, with 2008 sales of 166 million euros ($240.7 million), according to the CIRCUITS ASSEMBLY Top 50.

• Prev
• Next