Powerwave Technologies Sells Chinese Manufacturing Operations

Santa Ana-based Powerwave Technologies, the publicly held manufacturer of wireless communications components, said yesterday that it has entered into a deal with Shenzhen Tatfook Technology Co. Ltd., where it will sell selected assets of its Chinese manufacturing facilities to Tatfook. Powerwave said it is selling assets from Filtronic (Suzhou) Telecommunications Products Co. Ltd, the subsidiary of Powerwave which owns and oeprates its Chinese manufacturing operations, for $12.5M. Tatfook will then supply Powerwave with products under a long term manufacturing and supply agreement. The deal includes equipment, inventory, and offers of employment to current employees at Powerwave's Chinese facilities.