MUNICH, Oct 25 (Reuters) - German chip-making kit supplier Süss MicroTec (SMHNn.DE) cut its sales forecasts for the second time in three months, blaming tightened government controls for exports to China, sending shares tumbling 11%.
The south German company said on Wednesday that deliveries worth 23.5 million euros ($24.86 million) were stuck at customs, adding that, though rules had not changed, customs appeared to have significantly stepped up their inspections for deliveries to China since August.
German customs did not immediately respond to a request for comment.
Süss Microtec expects sales of between 300 and 340 million euros this year, compared to 299.1 million euros last year, a smaller increase than they expected earlier.
($1 = 0.9454 euros)Reporting by Alexander Hübner, writing by Thomas Escritt; Editing by Rod NickelOur Standards: The Thomson Reuters Trust Principles.
Persons:
Süss Microtec, Alexander Hübner, Thomas Escritt, Rod Nickel
Organizations:
Thomson
Locations:
MUNICH, China