3rd Feb 2015 13:14
LONDON (Alliance News) - PeerTV PLC Tuesday said its Digitek business has taken delivery of a major part of the new assembly line first disclosed to the market last September, with the remaining sectors of the line expected to become fully operational within the next few weeks.
The new assembly line is expected to increase Digitek's manufacturing and assembly capacity by at least 50%, PeerTV said, as well as to facilitate more competitive pricing and direct cost savings.
Digitek is now providing customers with advanced automated optical inspection, a technique which enables fast and accurate inspection of electronics assemblies and, in particular, printed circuit boards.
"The introduction of the new assembly line will enable Digitek to dispose of some older items of equipment. This has allowed a reduction in the space occupied by the PeerTV Group by almost 40%, with a corresponding saving in rent and other related costs," PeerTV said.
The company added that it has issued 3.3 million new shares in part payment of loans and unpaid fees due by its subsidiaries PeerTV Ltd and SM Digitek (1993) Ltd at 1.50 pence per share.
PeerTV shares were down 1.3% at 1.26 pence on Tuesday.
By Samuel Agini; [email protected]; @samuelagini
Copyright 2015 Alliance News Limited. All Rights Reserved.
Related Shares:
PTV.L