SCANFIL PLC STOCK EXCHANGE RELEASE 5 APRIL 2012 8.15 A.M.
CLOSURE OF STATUTORY NEGOTIATIONS AT SCANFIL PLC’S SUBSIDIARY SCANFIL EMS OY
The statutory employer-employee negotiations at Scanfil EMS Oy that started on 21 February 2012 have been completed. The reason for the negotiations was the low profitability of the Sievi plant and the resulting need for adjusting and reorganising the unit’s operations in order to ensure the prerequisites for operating in a financially profitable way.
Based on the results of the negotiations, Scanfil EMS Oy’s Board of Directors has decided that total of 64 workers and salaried employees will be made redundant. Terminations will be carried out until the end of May.
The measures made by Scanfil EMS Oy will not have an effect on the future prospects published by Scanfil plc on 1 March 2012.
President Harri Takanen
Tel +358 8 4882 111
Distribution NASDAQ OMX, Helsinki
Scanfil Group is engaged in contract manufacturing for international telecommunications technology and professional electronics manufacturers. Scanfil has 35 years of experience in demanding contract manufacturing. Scanfil is a systems supplier that offers its products and services to international telecommunications systems manufacturers and professional electronics customers. Typical products are equipment systems for mobile and public switched telephone networks, automation systems, frequency converters, lift control systems, equipment and systems for electricity production and transmission, analysers, slot machines and different meteorological instruments. The company has production facilities in China, Estonia, Hungary and Finland.
The associated company of Scanfil Group:
Greenpoint Oy (Scanfil EMS Oy’s share of ownership 40%) focuses on development and supply of solutions and equipment, which improve placements, visibility and sales of customer products in the Point-Of-Sale. The Greenpoint product portfolio includes a large variety of refrigerated merchandisers, displays and integrated check-out zone concepts. The company serves both brand owners and retail chains internationally. Along with the European markets Greenpoint Oy has entered North and Latin American markets through partnerships. www.greenpoint.fi