ORADEA, ROMANIA – Connectronics Romania has opened a 16,000 square meter factory with capacity for more than 1,000 employees.

The company originally began its manufacturing in Romania in December 2002 with seven employees in a rented space of less than 1,000 square meters, and the recent move to the 16,000 square meter facility is the fourth for the company in six years.

The factory in Romania will produce printed circuit boards and wiring harnesses for the automotive and telecommunications sectors. The Connect Systems group currently has eight factories in Europe.

GENK, BELGIUM - IPTE NV posted sales of EUR 65.5 million (US$101.76 million) in the first quarter of 2008, an increase of 5% over Q1 2007, and profit from operations rose to EUR 2.54 million (US$3.95 million), a 23% increase over the same period in 2007.

Net profit for the quarter increased to EUR 1.5 million (US$2.33 million), up 20% over 2007, while booked orders grew 4.8% to EUR 87 million (US$135.24 million) for the first quarter of 2008.

Huub Baren, company chairman said, "The first quarter results are as we expected. Sales are up slightly and net profit is 20% higher. Order inflow in the automation division ran to plan and remains above the market trend. Prospects for the second half are positive."