Powerwave sells Hungarian plant to Sanmina-SCI
Jan 07, 2008
Amplifier maker Powerwave Technologies Inc. said Friday it sold some of its Hungarian manufacturing operations to electrical component manufacturer Sanmina-SCI Corp.
Powerwave said it signed a five-year manufacturing agreement with Sanmina after selling the assets on Dec. 30.
In a filing with the Securities and Exchange Commission, Powerwave said the sale includes Powerwave's manufacturing plant in Szekesfehervar, Hungary.
Powerwave Technologies makes radio-frequency amplifiers used in cell-phone and other communications networks. Customers include Nokia Corp. and Siemens Communications Group.
Sanmina makers circuit boards and other electronic components. Its customers include IBM Corp. and Hewlett Packard Co.
Powerwave shares fell 37 cents or 9.1 percent to $3.70 after earlier hitting a 52-week low of $3.64. It had traded in the past year between $3.80 and $7.64.
Sanmina shares fell 11 cents or 6.2 percent to $1.67. It has traded in the past year between $1.62 and $3.94.