Barco and IPTE reach agreement on the sale of the Electronic Manufacturing activity of the division Barco Manufacturing Services
Kortrijk, 20 December, 2006. Barco announces that an agreement has been reached with IPTE on the sale of the Electronic Manufacturing activity of the division Barco Manufacturing Services. The transfer will become effective on 1 January, 2007 and will have a marginal impact on the results of Barco.
Electronic Manufacturing is the surface mounting activity of Barco Manufacturing Services and generates euro 60 million euro sales per year. Approximately 75% of this figure represents internal sales to Barco divisions. The activity has manufacturing sites in Belgium (Poperinge) and the Czech Republic (Kladno) and employs more than 350 people.
Barco had announced earlier that it did not want to invest any further in the subcontracting activities of the division Barco Manufacturing Services. The contract with IPTE means that now the biggest activity of this division is sold.
The agreement stipulates that IPTE will be Barco’s leading supplier for surface mounting projects for a period of five years. For that period, minimum annual sales volumes have been agreed upon.
About Barco
Barco, a global technology company headquartered in Kortrijk, Belgium, designs and develops visualization products for a variety of professional markets. Barco has its own facilities for Sales & Marketing, Customer Support, R&D and Manufacturing in Europe, North America and Asia Pacific.
For fiscal year 2005, Barco posted net sales of euro 712.0 million.
Barco’s ordinary shares are listed on the Brussels/Euronext stock exchange. Barco is a BEL 20 and a Next 150 company. Share information may be accessed on Bloomberg under the symbol BAR BB and on Reuters under BARBt.BR.
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For more information, please contact
JP
Tanghe
Senior Advisor to the CEO
Barco nv
Telephone
+32 56/26 23 22
jp.tanghe@barco.com
