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Elcoteq Lohja Plant to Close in August
April 4, 2007 |Estimated reading time: 1 minute
The personnel negotiations concerning Elcoteq SE's Lohja manufacturing plant and the NPI (New Product Introduction) organization have been concluded. As a result of the negotiations the company has decided, on financial and production grounds, to make 242 employees in these units redundant and to close the Lohja plant by the end of August this year. Altogether 215 of the redundancies will be made in the Lohja plant and 27 in the NPI organization. <?xml:namespace prefix = o ns = "urn:schemas-microsoft-com:office:office" />
The objective of these measures is to improve the Group's long-term profitability and competitiveness. The personnel negotiations in <?xml:namespace prefix = st1 ns = "urn:schemas-microsoft-com:office:smarttags" />Finland are part of an action plan that applies to the entire Group under which operations will be streamlined especially in Europe and the Americas.
ELCOTEQ SE
Jouni Hartikainen
President and CEO
Further information:
Mr Jukka Jaeaemaa, COO, tel. +358 50 526 7665 between 2.00 and 3.30 pm (EET). Ms Reeta Kaukiainen, Director, Communications and Investor Relations, tel. +358 10 413 1742 or +358 50 522 0924
About Elcoteq
Elcoteq SE is a leading electronics manufacturing services (EMS) company with original design manufacturing (ODM) capabilities in the communications technology field. Elcoteq provides global end-to-end solutions consisting of design, NPI, manufacturing, supply chain management, and after-sales services for the whole lifecycle of its customers' products. These products include terminal products such as mobile phones and set-top boxes as well as communications network equipment such as base-stations, tower-top amplifiers, and microwave systems. The company operates in 16 countries on four continents and employs about 23,000 people. Elcoteq's consolidated net sales for 2006 totaled 4.3 billion euros (over 5 billion USD). Elcoteq SE is listed on the Helsinki Stock Exchange. For more information, please visit www.elcoteq.com