SCANFIL PLC STOCK EXCHANGE RELEASE 17 NOVEMBER 2015 11.30 a.m.
PARTNERTECH AS TO START STATUTORY NEGOTIATIONS TO RESTRUCTURE OPERATIONS IN MOSS, NORWAY
Today at 11.30 a.m. Finnish time, PartnerTech AB’s Norwegian subsidiary, PartnerTech AS, informed the representatives of the company’s personnel groups about the intention to restructure the company’s operations. PartnerTech AS has also announced that it will initiate a communication and negotiation process with the representatives of the personnel groups, in accordance with Norwegian legislation. The option of discontinuing production at the factory will also be discussed in the negotiations. The restructuring negotiations concern all personnel in PartnerTech AS.
The negative impact on earnings resulting from a possible factory closing is estimated at approximately EUR 5 million – EUR 7,5 million. The respective cash impact is estimated at approximately EUR 3 million – EUR 5,5 million.
CEO Petteri Jokitalo
Tel +358 8 4882 111
Distribution NASDAQ OMX, Helsinki
Scanfil Group is an international contract manufacturer and systems supplier. Its customers include international operators in the automation, energy, data transmission and health technology sectors, and companies operating in fields related to urbanization, among other industries. Scanfil is listed on the Helsinki Stock Exchange.
In 2015 Scanfil acquired PartnerTech AB, the leading Swedish contract manufacturer. Partnertech’s turnover in 2014 was SEK 2.2 billion. Company has operations in Sweden, Norway, Finland, Poland, the UK, the United States and China.