Intracom ASE filing threatens migration
Telecoms equipment-maker Intracom may be forced to move abroad, faced with lagging domestic sales and competition from lower priced products from China, it said yesterday. The country’s largest provider of telecommunications, IT and electronic defense systems also called on the government to take steps to help businesses. «Despite taking the necessary measures, management has asked for greater sensitivity from the state, otherwise Intracom will inevitably be forced to move to countries with lower development and manufacturing costs,» the company said in a stock market filing. «The company has still not shown any signs of operational recovery, which consequently forces management to consider several alternatives to improve the company’s business outlook,» Marfin Analysis wrote in a note. (Reuters)
