EUCON Holding is ceasing its laser drilling operations and has sold some of its machines.

It sold 11 laser drilling machines - out of a total of 43 - for $2.1 million to Orix Taiwan Corporation.

Eucon Holding undertakes precision-drilling of printed circuit boards for manufacturers in Taiwan and Shanghai.

Due to increased competition in the laser drilling industry over the years, the outlook in the segment is not positive for the company, it said in an announcement.