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Ascom sells telephone business

Ascom's headquarters in Bern

(Keystone Archive)

Ascom has sold its telephone manufacturing unit as part of its reorganisation to focus on the high-tech sector. Swiss Capital Equity Holding has bought the division for an undisclosed sum.

The division has had substantial losses because of fierce competition from Asia. But Swiss Capital Equity Holding said that after devising a new business plan, it was convinced the business could be profitable.

The company said it would keep the division's workforce of more than 150 employees.

Ascom said the sale would have a negative impact on the group's 2001 figures but added that the company's operating result would improve through the divestment of the loss-making unit.

The company plans other divestments before the end of the year.

Swissinfo with agencies


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