SPAIN - RyG, Nauta and Debaeque backed-Southwing halts payments

Founded by Bart Huisken in 2001, Southwing manufacturers wireless components based on Bluetooth technology. The company generates 85% of its EUR 6.8m turnover overseas and reported losses nearing EUR 4.2m in 2007.

The founding owner holds a 30% stake in the company with Riva y Garcia controlling a further 25%, Nauta 20%, Debaeque 10%, and the remaining being held by minority investors.

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