SCANFIL PLC STOCK EXCHANGE RELEASE 19 FEBRUARY 2016, 1.15 P.M.
SCANFIL LIMITED TO START STATUTORY NEGOTIATIONS TO RESTRUCTURE OPERATIONS IN CAMBRIDGE, ENGLAND
Today at 1.15 p.m. Finnish time, Scanfil Sweden AB’s (former PartnerTech AB) English subsidiary, Scanfil Limited, informed the company’s personnel about the intention to restructure the company’s operations. Scanfil Limited has also announced that it will initiate a communication and negotiation process with the representatives of the personnel groups, in accordance with English legislation. The option of discontinuing production at the factory will also be discussed in the negotiations. The restructuring negotiations concern all personnel in Scanfil Limited.
If the negotiation ends up in discontinuing operations at the factory, no significant impact on earnings is expected for the year 2016. Turnover of Scanfil Limited in 2015 was about EUR 6.1 million and operating loss about EUR 1.1 million.
CEO Petteri Jokitalo
Tel +358 8 4882 111
Distribution NASDAQ OMX, Helsinki
Scanfil is an international contract manufacturer and system supplier for the electronics industry with 40 years of experience in demanding contract manufacturing. Scanfil provides its customers with an extensive array of services, ranging from product design to product manufacturing, material procurement and logistics solutions. Vertically integrated production and a comprehensive supply chain are the foundation of Scanfil’s competitive advantages: speed, flexibility and reliability.
Typical Scanfil products include mobile and communications network devices, automation system modules, frequency converters, lift control systems, analysers, various slot and vending machines, and devices related to medical technology and meteorology. Scanfil services are used by numerous international automation, energy, IT and health service providers, as well as companies operating in the field of urbanization. Scanfil’s network of factories consists of 16 production units in Europe, Asia and North America. The total number of employees is 3,500.