HONG KONG -- Surface Mount Technology (Holdings) Ltd. has sold its surface mount equipment in Guangdong for HK$16.3 million ($2.1 million) via a tender offer.

The proceeds will be used repay its creditors. The company is undergoing a restructuring.

The equipment was used at the contract assembler's Dongguan City plant, which ceased production in the fourth quarter of 2011.

The EMS company expects $1.4 million gain from writedowns of previously claimed impairment losses.

Ed.: 1 USD = 7.75399 HKD