Epiq obtains capital injection worth € 5 million.

Epiq, the Diepenbeek based producer of electronic and electro-mechanical systems and sub-systems, said it would work further on restructuring the company during the second and third quarter. A return to profitability is expected in the fourth quarter. Elex has agreed to increase the capital with € 4 million while the company received a subordinated loan of € 1 million in the context of a standstill agreement with the banks until end of November, such that € 5 million in new funds will compensate much of the losses incurred in the Sensor-Nite activity, and the fact that the factory in Besançon is poorly loaded because their major telecom customer is still not ordering again and new automotive business star-up was delayed. Epiq accounts for 15 entities in 8 countries and sales over € 148 million.
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