SCANFIL PLC STOCK EXCHANGE RELEASE 1 NOVEMBER 2016 14.00 P.M.
STATUTORY NEGOTIATIONS AT SCANFIL VANTAA OY CLOSED
The statutory employer-employee negotiations at Scanfil Sweden AB’s Finnish subsidiary, Scanfil Vantaa Oy, due to production and financial reasons and business restructuring have been closed.
Based on the result of the negotiations, Scanfil Vantaa Oy’s Board of Directors has on 1 November 2016 decided to start the closing down the production of the plant. Total of 56 workers and salaried employees at Vantaa plant will be made redundant. Eight employees continue to work in development, quality and sales within the company. The negative impact on earnings resulting from the factory closing is estimated at approximately EUR 0.4 million. The plan is to conclude the actions by 30 June 2017 and an impact on earnings is mainly focused on fourth quarter 2016.
Turnover of Scanfil Vantaa Oy in 2015 was about EUR 16.4 million and operating loss of approximately EUR 0.08 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 urbanisation. Scanfil’s network of factories consists of 12 production units in Europe, Asia and North America. The total number of employees is 3,500.