MANAUS, BRAZIL -- It might not be much, but Elcoteq's factory here remains up and running, the smallest facility left of the 14 sites the EMS supplier operated just 18 months ago.

In that time, Elcoteq's revenues have plunged, the company has declared bankruptcy, and various sites around the world have been sold or shuttered.

2011 revenues will almost certainly come in below $1 billion, down from $1.5 billion in 2010 and a sharp drop from a high of more than $6 billion (4.3 billion euros) in 2006 (see Table 1, below).

In the meantime, based on CIRCUITS ASSEMBLY's reporting, it appears the company has shuttered a total of seven operations in Shenzhen, Switzerland, Finland, Luxembourg and Mexico. It also sold its Tallinn, Estonia, site to Eolane.

Factories remain operational in Manaus, Bangalore, Beijing and Dongguan. It is unclear whether the two sites in Pecs, Hungary, a former Nokia campus which now totals 570,000 sq. ft. of factory space, are open. Calls to the company have not yet been returned. In December, however, a third party auctioned a large amount of the campus's surface mount equipment, including Siplace placement machines.

Even with all the closures, Elcoteq maintains around 535,000 sq. ft. of operating factory space, not including the Hungary sites, with Manaus, at 92,000 sq. ft. the smallest and the two China plants ranging between 270,000 and 280,000 sq. ft. If the creditors and banks can come to agreement, there's still a chance Elcoteq could make it.

Of course, in the competitive world of EMS, that assumes the sharks circling the company don't devour what's left first.

Table 1. Elcoteq’s Sales, 2002-10 (Euros millions)

Year     Revenue

2002    1,840
2003    2,236
2004    2,954
2005    4,169
2006    4,284
2007    4,043
2008    3,443
2009    1,503
2010    1,069