IPTE BECOMES CONNECT

[BIZ: Hasselt, December 22]
The technology company IPTE is concerned with the construction of cables and modules and its new name will be Connect. This is a result of the sale of the company, of the Factory Automation with the automation division. Nine years ago an ambitious launch of the market was set up but was not as successful as expected. The division has just been sold to Huub Baren, the founder of the technology company. The transaction involved the sum of EUR 2m. The group loses EUR 18m with the sale of Factory Automation, but Eric Dejonghe, the chairman, said that it would not have been possible to get a better deal.

http://www.hbvl.be/