Cencorp is planning to adjust its operations to the new strategy
(OMX (English) Via Acquire Media NewsEdge)
Cencorp Corporation Stock Exchange Release 24 April 2012 at 09:00 Finnish
CENCORP IS PLANNING TO ADJUST ITS OPERATIONS TO THE NEW STRATEGY
Cencorp is planning to adjust its operations to meet the requirements of the
new strategy published on 19 April 2012.Cencorp needs to strengthen its
competitiveness and to create a solid base for its long-term profitable growth.
The company has decided to investigate the possibilities to rearrange
production and other operations in Salo and Mikkeli to improve profitability,
cost structure and competitiveness. As a part of this process the company is
investigating options to fully outsource the equipment manufacturing and its
support functions as well as the possibilities to outsource part of its
engineering operations. Additionally the company’s operations and business
premises in Salo, Mikkeli and other locations in Finland will be considered.
Restructuring of Cencorp Group’s foreign units will be started.
With the restructuring Cencorp is pursuing annual savings in Finland of approx.
2.0 Million Euros in fixed and operative costs.
To adjust its operations Cencorp starts statutory negotiations in all its
offices in Finland based on production-related and financial grounds and on
grounds related to the restructuring of the operations. The statutory
negotiations will include all Cencorp employees in Finland excluding its
service and sales operations but including the support functions of the service
and sales. The estimate of reduction in labor is max. 25 employees.
Mikkeli, 24 April 2012
BOARD OF DIRECTORS
For more information:
Iikka Savisalo, CEO, tel. +358 40 5216082, email@example.com
NASDAQ OMX, Helsinki
Cencorp Corporation is a leading provider of industrial automation solutions.
The equipment included in the product portfolio designed for depaneling,
odd-form assembly, testing and laser materials processing substantially
improves the efficiency of customers production. The product range also
includes EMI shielding solutions, flexible circuits, decorations and RFID
antennas. Cencorps customers are automotive electronics manufacturers and
manufacturers operating in telecommunications, industrial automation and EMS.
Cencorps head office is located in Mikkeli, Finland. The company is part of
the Finnish Savcor Group.
Copyright © 2012 OMX AB (publ).
Copyright © 2012 OMX AB (publ)
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