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Management buyout rescues PCB maker

Posted: 04 Jan 2002 ?? ?Print Version ?Bookmark and Share

Keywords:pc-board? pcb? backplane? signum circuits? mobile communications handset?

Scottish PCB and backplane manufacturer Signum Circuits Ltd has emerged from receivership through a management buyout, the company said.

The deal, backed by the Bank of Scotland, safeguards 94 jobs at the company, which fell victim to the slump in the mobile communications handset market. Officials did not disclose terms of the management buyout.

The revived company will initially trade as North Riverside, but aims to acquire rights to its original Signum brand.

Guido Crolla, former chairman and chief executive, will serve as managing director of the new company. He headed the management buyout team along with Ian Durham, who continues as finance director.

Blair Nimmo, of receivers KPMG Corporate Recovery, said, "Signum is a sound business and we were determined to find a buyer, thereby preserving the company, which has an excellent reputation in its market. The business is now well placed to respond to any recovery in the telecom market."

The company has its headquarters in Selkirk and operates facilities in Southampton and Calne in Wiltshire.

Paul Dempsey

EE Times

Paul Dempsey is news editor of sister publication EE Times-U.K.

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