SCANFIL PLC STOCK EXCHANGE RELEASE 25 APRIL 2016 2.15 P.M.
SCANFIL LIMITED’S NEGOTIATIONS TO RESTRUCTURE OPERATIONS CLOSED
Scanfil Sweden AB’s English subsidiary, Scanfil Limited, announced on 19 February 2016 the intent to reorganize operations of the company. At the same time, the company announced that they will start a communications and negotiations procedure with the representatives of the personnel groups in accordance with English legislation. The possibility of closing down the production of the plant was also discussed during the negotiations.
Based on the final result of the negotiations, Scanfil Limited’s Board of Directors has on 25 April 2016 decided to start closing down of the plant. Unlike it was estimated earlier the closure of the plant is expected to cause non-recurring costs, which are expected to remain under EUR 1.0 million. The plan is to conclude the closing actions by 25 July 2016 and an impact on earnings is mainly focused to second quarter of 2016.
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 urbanisation. Scanfil’s network of factories consists of 15 production units in Europe, Asia and North America. The total number of employees is 3,800.