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Global-Tech Advanced Innovations Inc announces closure of EMS Business

Monday, 30 Dec 2013 10:45pm EST 

Global-Tech Advanced Innovations Inc:Says the closure of its EMS business.Says as previously disclosed, the results of its EMS business have been adversely affected by rising labor costs, high turnover and downward pricing demands from major customers.Says given the weakening chinese domestic market, management felt that these issues were likely to continue, if not worsen, and that the decision to close the EMS business was necessary to avoid incurring further losses. 

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