Business
Cirtek Sells Semiconductor Arm to Indian Firm for $20.2 Million
Cirtek Holdings Philippines Corp. has sold its semiconductor subsidiary, Cirtek Electronics Corp. (CEC), to India's Sancode Semi Private Ltd. for $20.2 million. The proceeds will be used for debt repayment and capital expenditures, aiming to restructure the business for future growth.
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- Philippine electronics firm to sell unit to Indian company for $20.2M
Cirtek Holdings Philippines Corp. plans to sell its wholly owned electronics subsidiary, Cirtek Electronics Corp. (CEC), to Indian firm Sancode Semi for $20.2 million. The move aims to free up funds for debt reduction and support its core businesses.