Tronics announces the restructuring of its US operations with the liquidation of its subsidiary Tronics Mems Inc, a decision which 'should lead to a significant improvement in the group's operating profitability'.

It will enable future investments to be focused on improving operational excellence at its Grenoble plant in France, with an expanded MEMS inertial sensor product portfolio to better meet growing market demand.

The liquidation of the subsidiary will take effect in fiscal year 2024 (ending March 30, 2024), and will lead to the write-down of the intra-group loan granted by Tronics to its US subsidiary, whose net book value currently stands at 20.4 million euros.

Copyright (c) 2023 CercleFinance.com. All rights reserved.