Scots firm Teknek 'in talks with third party'

A SCOTTISH technology firm founded more than 30 years ago to make cleaning equipment for the electronics industry yesterday revealed it was "in discussions with a third party" but denied the business was up for sale.

Inchinnan-based Teknek, whose technology is used to clean machines that make flat-screen televisions and solar panels, has more than 100 staff including those employed by its parent company, TH Group - which owns circuit board-printer Rainbow Technology Systems and Teknek's units in China and Japan.

A spokesman for Teknek told The Scotsman that the company was "most definitely not up for sale" but refused to give any further details of the talks, which he said are subject to a non-disclosure agreement. One source had claimed the business was being sold.

Managing director Steve Mitchell has previously been vocal in his commitment to keeping Teknek in Scotland.

In February, the firm - which was founded in 1978 - unveiled expansion plans in Asia, doubling its headcount in the region in order to cope with growing demand for its products.

As part of the push into emerging markets, the firm's Asia Pacific headquarters is moving from Yokohama in Japan to a new office at Shanghai in China. A second Chinese site at Guangdong is also planned.

Last year the company opened its first office in the US.