CARROLLTON, Texas-CellStar Corp. announced it has closed the sale its Netherlands operation for approximately $2 million and the buyers have assumed all trade and financial liabilities.
“The Netherlands is a relatively small operation and since we have minimal presence in Europe, we feel that this business will be best served by selling the operation to local investors, which includes our former management team,” explained Robert Kaiser, senior vice president and chief financial officer of CellStar. “Improving stockholder value is our top priority in 2003, and the sale of The Netherlands will allow management to focus on markets that will provide greater opportunity for our stockholders.”
