Printed Circuit Design & Fab Online Magazine - PNE PCB to Raise $10.6M for Facility Upgrade

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Printed Circuit Design & Fab Magazine

KUALA LUMPUR – PNE PCB has offered shareholders the opportunity to purchase stock to raise up to RM45.37 million cash (US$ 10.6 million), according to published reports. The company plans to issue up to 907.33 million shares.

The fabricator expects to use the extra capital in part to upgrade its facilities in Tebrau, Johor, Malaysia, and Dongguan, China, which are reportedly running at 60%. PNE PCB also plans to install a new manufacturing line. The company said the upgrade would reduce labor costs by up to 3% and waste by 1%, while producing 10% more goods.

PNE PCB also said it would set aside up to RM7.6 million to finance potential acquisitions or investments.

The firm posted second quarter net profit of RM215,000, double from a year ago. Revenue was up 5.5% to RM23.51 million.

Ed.: RM1 = US$0.233