News (Corporate)
Rakon FY2018 Result Announcement and Presentation
17 May 2018
Rakon Limited (RAK) released its preliminary result announcement for the year ended 31 March 2018 to the market at around 9.00am on Thursday 17 May 2018. This was followed by a presentation by management at 11.00am by teleconference.
The Results Announcement and Investor Presentation are available here:
FY18 Preliminary Results AnnouncementRakon Confirms Buyout of Centum Rakon India
30 April 2018
Rakon Limited (NZX: RAK) today confirmed it will take full control of the Centum Rakon India joint venture operations following the signing of an agreement for the buyout of its 51% partner Centum Electronics Limited. Centum Rakon India manufactures high-performance frequency control products primarily for the telecommunications market, most of which are sold through Rakon’s French subsidiary to telecom network and equipment manufacturers.
Rakon Chief Executive Officer and Managing Director Brent Robinson said bringing Centum Rakon India under Rakon’s full control is an exciting strategic decision.
Rakon Confirms Sale of France Property
29 March 2018
RAKON LIMITED (NZX: RAK)
Rakon today announces the sale of its Argenteuil, France property for a total consideration of EUR 2.7 million, before costs.
Argenteuil had previously been the main operational site for the manufacture of discrete OCXOs, which in recent years has shifted to Centum Rakon India. The property sale has been achieved following a lengthy re-zoning process.
Rakon in Discussions for Buy-out of Centum Rakon India
27 February 2018
Rakon today announces that it is in advanced discussions with Centum Electronics Limited (“Centum”) to buy out their 51% shareholding in the India based company Centum Rakon India Private Limited (“CRI”) (“proposed transaction”). Rakon today has a 49% shareholding in CRI, the operation of which is a core part of Rakon’s manufacturing strategy.
