Dane-Elec Follows Restructuring Plan
When French memory manufacturer and distributor Dane-Elec filed for bankruptcy protection last year, it pledged to quickly reorganize. The company continues to carry out that plan following its recent majority acquisition by Gigastone, a Taiwanese-based manufacture of mobile, networking and flash solutions. The minority shareholder is New Dane, a European investment group.
Going forward, Dane-Elec will leverage Gigastone's 60-member engineering team, which now works from a new 50,000-square-foot factory in Taiwan, to improve existing products and to develop new lines, said Michel Hassan, Dane-Elec's general manager. Gigastone, in turn, will use Dane-Elec's retail and distribution partnerships to drive its products into the U.S. markets.
"Gigastone decided to acquire Dane-Elec to speed up its presence in the U.S.," Hassan said. "You will see more synergy in sales, as well as new products and greater availability. We're giving them a nice funnel."