IPTE’s board of directors decided to transfer the company’s majority holding (52%) in Autoveyor/Singapore to the minority shareholder. But the facility in Shanghai set up together with Autoveyor becomes 100%-IPTE owned, thus further strengthening the group’s presence in China. Both companies have committed to continuing working together in the future. As CEO Huub Baren explains, “The electronics market is shifting towards China. The market in Singapore is falling behind. This makes the presence of an IPTE production facility in Singapore no longer relevant. We are therefore fully taking over the business activity we set up last year together with Autoveyor in Shanghai. Our cus-tomers expect IPTE to be present in the immediate vicinity of their expanding production facilities in China. The production facility in Shanghai now allows us to provide this service to them. It also gives us an opportunity for direct contact with customers in China”.
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