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CMK Sells Stake in SNC to Sumitomo Bakelite |
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Written by Philip Buonpastore
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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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