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Trackwise Designs PLC - Tewkesbury, Gloucestershire-based manufacturer of products using printed circuit technology - Launches sale process for Stevenage Circuits Ltd in order to focus its financial and management resources ‘more fully’ on its core improved harness technology business. Says decision follows an impairment review of Stevenage Circuits in late March, which resulted in an impairment charge for the subsidiary. Says it could sell the entire business or its asset. The board will ‘assess the merits of expressions of interest received’. Stresses there can be no certainty that a sale will go ahead. Says Stevenage Circuits operates from Trackwise’s Stevenage site and it forms the majority of the group’s Advanced PCB business. Says its disposal would not affect the core improved harness technology business. Current stock price: 0.65 pence, down 3.7% 12-month change: down 97% Copyright 2023 Alliance News Ltd. All Rights Reserved.
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