Business Services Industry
Denmark's Thrane & Thrane A/S divests German subsidiary European Satellite Link GmbH
Nordic Business Report, August 14, 2007
NORDIC BUSINESS REPORT-14 August 2007-Denmark's Thrane & Thrane A/S divests German subsidiary European Satellite Link GmbH(C)1994-2007 M2 COMMUNICATIONS LTD http://www.m2.com
Danish satellite communication equipment manufacturer Thrane & Thrane A/S announced on Tuesday (14 August) that it has agreed to sell its German subsidiary European Satellite Link GmbH.
The subsidiary will be taken over by two former Thrane & Thrane employees for an undisclosed sum.
Thrane & Thrane acquired European Satellite Link, based in Hamburg, in connection with its acquisition of the Norwegian company Nera SatCom AS in 2006.
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"Following the acquisition of Nera SatCom, Thrane & Thrane investigated whether ESL could be fitted into Thrane & Thrane's strategy going forward. The conclusion was that [European Satellite Link] could not profitably be integrated into Thrane & Thrane," the company said in a press statement.
Thrane & Thrane, headquartered in Kgs Lyngby outside Copenhagen in Denmark, is the world's leading manufacturer of equipment and systems for global mobile communication based on sophisticated satellite and radio technology. The company has some 800 employees and is listed on the Nordic Exchange in Copenhagen.
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