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Termbray changes focus to property development

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Termbray Industries International (Holdings) is to stop making printed circuit boards (PCB) - its main line of business - and concentrate on mainland property development.

The company is to sell its core PCB business to Viasystems Canada for US$325 million.

It has also agreed not to make PCBs for two years after the sale.

Termbray also promised shareholders it would maintain a net asset value of at least $100 million for 18 months after the sale.

'Notwithstanding that the PCB business of the group has achieved respectable growth during the past years, the directors believe the future development of the PCB business is faced with increasing demand on globalisation,' Termbray said.

Company officials did not return calls for comment.

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