RESEND: Rakon sells UK property, shifts more manufacturing to NZ

Thu, 11 Dec 2014

(fixes typo in headline) By Paul McBeth Dec. 12 (BusinessDesk) - Rakon, the high-tech components manufacturer, has sold its Lincoln, UK plant for 900,000 British pounds, most of which will go into repaying debt, as part of a plan to send more manufacturing work back to New Zealand. The Auckland-based company completed the sale, generating net proceeds of 800,000 pounds which it will use to repay bank debt, it said in a statement. The sale was part of a plan announced earlier this year to close the UK operation and transfer all manufact...

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