MOELDRUP, DENMARK -- Selektro A/S has acquired the assets of bankrupt EMS firm HLH Electronics, the company said.

Under terms of the agreement with HLH's insolvency managers, Selektro will acquire all market-related activities from HLH. Selektro did not disclose the price being paid for the assets, but said the deal happened by chance.

"It is definitely not an immediate part of our strategy that Selektro should enter into any form of acquisition or similar, but this opportunity happened somewhat by chance," said Karl-Peter Andersen, CEO at Selektro. "We spoke with some of the customers and subsequently evaluated that it was relatively well-suited for Selektro to acquire HLH Electronics’ production. Customers would thereby be ensured of a stable, healthy and flexible supplier. HLH Electronics’ customers have been hard tested, but now Selektro aims to correct this ."

Production will be consolidated in Selecktro's plant in Moeldrup, the firm added.

“Selektro is already in progress to move stocks, documentation and necessary equipment to the factory in Moeldrup,” said Margret Joensen, production manager.

Selektro dates to 1976, when Skals Elektronik was founded. After changing owners through the better part of the next two decades, it was spun off in 2003.

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