CEO: Tallinn plant of Elcoteq may be sold
07.10.2011, 14:05Jan Kotka, CEO of Elcoteq Tallinn, said today that the bankruptcy of parent company Elcoteq SE may mean that the Tallinn assembly plant may be sold.
"We are making a profit and have strong customer base," said Kotka, adding that he was hopeful that a new owner for the plant will be found soon.
Elcoteq SE was today declared bankrupt by the Luxembourg Court. Mr. Yann Baden was appointed as the Bankruptcy Administrator. He also acts as the Bankruptcy Administrator for Elcoteq Network S.A.
Trading in Elcoteq's securities at Nasdaq OMX Helsinki has been terminated.