New management at Elit Electronics

From February 24 a new management will run Elit Electronics. It plans to eliminate all the mistakes of the former management and implement an effective anti-crisis programme which will improve the financial condition of the company.

The shareholders decided to change the previous management because the company has accumulated serious debts to the banks, mainly Bank of Georgia, TBC Bank and Bank Republic. The creditor banks have spent three months rescuing the company from bankruptcy and introducing new forms of efficient management.