Rood Technology: back to the core business
Rood Technology: back to the core business
Keywords: Rood Technology
The Board of Management of Rood Testhouse International N.V. (Rood Technology) announced that the Scottish group company performing non- core activities will cease operations.
The sales level of the company's subsidiary in Livingston, Scotland worsened during the last 2 months. Local management has looked for additional financing without success. As a consequence Rood Technology Livingston can no longer fulfil its financial obligations. Sales of the first quarter amounted to 350.000 with a net loss of 150.000.
After having consulted the company's advisors, local management has decided to stop trading.
As the Scottish participating interest has already been written off completely, it is anticipated that no additional loss will occur.
The discussions with the possible investor will not be negatively impacted as his interest is in the core business of the group. An important element of the participation will be the reintegration of Rood Technology Germany by agreeing with the German banks the transfer of the shareholders' rights in the German group company back to Rood Testhouse International N.V.
Rood Technology's services
Rood Technology has more than 30 years experience of providing engineering intensive added value services to the semiconductor industry. These include testing, device programming, tape and reel, and related equipment supply.
For more information, contact: Wolfgang Wagner, CEO, Rood Testhouse International N.V. Tel: +49 9081 804202; Fax: +49 9081 804161.
Brouwer Management Consultants, Bart Brouwer. Tel: +31 6 53742004; Fax: +31 341 431606.
Correspondence address: Rood Testhouse International N.V., PO Box 454, 3840 AL Harderwijk, The Netherlands. E-mail: rti@rood.de;Web site: www.roodtechnology.com
