Elcoteq SE : Elcoteq Network S.A. files for bankruptcy - parent to continue controlled management process

Elcoteq SE

Elcoteq SE's subsidiary, Elcoteq Network S.A.,which has been in charge ofthe group's material purchases and customer invoicing in Europe, has today filed for bankruptcy. Elcoteq Network S.A.'s payment transactions have been blocked as a consequence of the revolving credit facility lenders' continued enforcement actions. Therefore Elcoteq Network S.A.is no longer able to continue its activities and has been forced to file for bankruptcy. The parent company, Elcoteq SE, continues the controlled management process in Luxembourg.

ELCOTEQ SE

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About Elcoteq

Elcoteq SE is an experienced Life Cycle Service Partner in electronics with a global network of service centers. Elcoteq provides a wide range of services to original equipment manufacturers (OEM) and to service providers such as operators, retailers and insurance companies.

Elcoteq's Electronics Manufacturing Services (EMS) Business Segment provides global supply chain solutions such as Engineering and Manufacturing Services but also technology and component Sourcing, custom Configuration, Testing, Delivery and other product supply related Services. EMS products range from control and security, communications infrastructure and lighting solutions to special purpose mobile devices and home entertainment systems.

Elcoteq's After Market Services (AMS) Business Segment provides globally reverse supply chain solutions for its customers consisting of Reverse Logistics, Depot Repair, Refurbishment, Recycling and Salvaging Services as well as AMS specific Engineering and Customer Support Services. AMS products range from mobile phones, tablets, flat panel TV's and set-top boxes to personal navigation and gaming devices.

Elcoteq SE is listed on the NASDAQ OMX Helsinki Ltd. www.elcoteq.com