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CMK Sells Stake in SNC to Sumitomo Bakelite

Written by Philip Buonpastore
Thursday, 27 December 2007
TOKYO - CMK sold its 49% interest in Malaysian PCB materials manufacturer SNC Industrial Laminates to Sumitomo Bakelite. SNC Industrial Laminates manufactures materials for PCBs used in appliances. Its earnings have been impacted due to rising raw material costs and Chinese competition. CMK says its business dealings with the Malaysian company will not change. The company was sold for $15.74 million.

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