Partnertech’s Negotiations to Restructure Operations Closed


Reading time ( words)

Partnertech AB’s Norwegian subsidiary PartnerTech AS announced on 17 November 2015 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 as put forth in Norwegian law. The possibility of closing down the production of the plant was also discussed during the negotiations.

The negotiation process has been closed on 11 January 2016. Based on the final result of the negotiations, PartnerTech AB’s Board of Directors has decided to start closing down production of the plant. The negative impact on earnings resulting from the factory closing is estimated at approximately EUR 5 million – EUR 7.5 million. The respective negative cash impact is estimated at approximately EUR 3 million – EUR 5.5 million.  The plan is to conclude most of the actions by 30 June 2016 and an impact on earnings is mainly focused to first quarter of 2016.

The rolling 12 months turnover of PartnerTech AS on 30 September 2015 was about EUR 6.2 million and operating loss about EUR 4.1 million.

About Scanfil Group

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.

Share

Print


Suggested Items

CFX Preview at IPC APEX EXPO 2020

01/13/2020 | I-Connect007 Editorial Team
The I-Connect007 Editorial Team chats with IPC’s Chris Jorgensen about the advances CFX has made in the past year and where the standard is in the standardization process. Chris also previews the CFX line that will be on display at the upcoming IPC APEX EXPO and shares IPC’s plans on educating and providing support solutions to potential users of CFX to implement it more easily.

The Future of the World Is Truly in the Hands of Our Youth

12/13/2019 | Barry Matties, I-Connect007
At I-Connect007, we are proud to once again sponsor the STEM Outreach Program at the upcoming IPC APEX EXPO 2020. Another way we support our youth is by sharing the stories of young people who are doing amazing things. Dylan Nguyen is a great student, musician, and creative thinker. Recently, he shared with me the details of his school science fair project, “Kite: Powering the Future,” which solved a problem that he faced. Dylan is a leader with a bright future, and the world is lucky to have kids like him.

Explaining the QSFP-DD Data Center Interconnect Standard

11/05/2019 | Scott Sommers, Molex
According to Cisco’s report, most IP traffic either originates or terminates in data centers. Yet as massive as the flows between centers are becoming, the data managed within those same facilities is going even higher. All of this activity means that “hyperscale” is the word of the future. Roughly one-quarter of all servers installed in 2016 went to hyperscale facilities, but that number will grow to almost one-half by next year.



Copyright © 2020 I-Connect007. All rights reserved.