LONDON Contract electronic manufacturing services provider, HANZA AB (Stocksund, Sweden), is acquiring another Swedish manufacturer, Elektromekan.
Elektromekan (Årjäng, Sweden) has 70 employees and annual sales on Euro 20 million. In October a liquidity shortage prompted the initiation of a reorganization of Elektromekan and the purchase agreement is conditional on the current reorganization being successfully ended. This, in turn, depends on the creditors’ acceptance of the debt composition plan.
“Elektromekan has an excellent reputation for its advanced electronics manufacturing and skilled technicians. Hence, it is a good supplement to HANZA Industrial Plants,” said Erik Stenfors, CEO HANZA.
“We have had informal contacts with the creditors, and the majority have already confirmed that they will accept the composition proposal,” said Peter Rimo, lawyer and by the district court appointed administrator. “It is in everyone's interest that the activity of Elektromekan continues, and with HANZA commitment to inject the capital needed to pay the composition, we look very positively on the ability to finish quickly complete this.”
Gerd Levin-Nygren, the former the President of NOTE Torsby, has been appointed new President of Elektromekan .
The sellers of Elektromekan is a Latvian company with a similar name, Hanzas Elektronika.