Trackwise Designs PLC - Tewkesbury, England-based manufacturer of products using printed circuit technology - Launches a sale process for its business following an internal review. Says parties potentially interested in the acquisition of, or investment in, Trackwise should contact its corporate finance team. Adds it reserves the right to alter any aspect of the sale process or to terminate it at any time. Company also adds that it is in the process of appointing a sales agent for the SCL sale process. Notes that initial offers under this process have been received and are being assessed.
Last Friday, the company announced that, after working with a tier-1 customer for more than a year on an opportunity to supply cell connection system FPCAs for onward assembly and supply to OEM B, it had been informed by the Tier-1 customer that the Tier-1 customer has not been successful in obtaining a nomination from OEM B. As a result, the board said it was reviewing all options for Trackwise Designs.
Trackwise shares are currently suspended from trading.
By Heather Rydings, Alliance News senior economics reporter
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