CDW Holding (SG:BXE) has released an update.
CDW Holding Limited has announced the voluntary winding-up of its subsidiary, Minami Tec (Wuxi) Co., Limited, due to sustained operating losses and a bleak financial outlook. The decision comes after Minami Tec, which provides plastic injection for electronics and automobiles, failed to meet state-owned factory lease qualifications in China, leading to the termination of the lease. This move is not expected to significantly impact the Group’s overall business operations or financial results for the year.
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