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NEWAYS ELECTRONICS INTERNATIONAL N.V. (Neways) plans to reallocate the operational activities of Neways Micro Electronics (NME) in Echt and China. In line with the improvement programme launched in mid-2015, Neways has also decided to make organisational changes at the operating company Neways Cable & Wire Solutions (NCWS).
NME specialises in the development and production of hybrid micro-electronics and the assembly and testing of client-specific modules. The turnover from the NME activities is lagging expectations. Following an automation process, the activities will be largely transferred to the Neways Micro Electronics location in Echt. Neways Wuxi Electronics in China will take over the remaining activities.
The reallocation of the Neways Micro Electronics activities in China will affect 65 employees. Neways will try to retain some jobs by transferring a number of them to Neways Wuxi Electronics.
Neways will also improve the efficiency of the NCWS organisation, the operating company that develops, produces and delivers high-quality cable systems for professional applications. Taking into account the current turnover development and a more efficient organisation, some 15 jobs will be lost early next year. Neways has submitted a request for advice to the works council.
Neways is taking a one-off provision of around EUR 2.6 million. The decision to change/reorganise the operational activities of NME and NCWS will make a positive contribution to the efficiency of the Neways organisations and result in structural cost savings.
Neways will publish its 2015 annual results before trading on 23 February 2016.
About Neways Electronics International N.V.
Neways Electronics International N.V. (Neways) is an international company active in the EMS (Electronic Manufacturing Services) market. Neways offers its clients custom-made solutions for the complete product life cycle (from product development to after-sales service) of both electronic components and complete (box-built) electronic control systems. Neways operates in a niche of the EMS market and focuses primarily on small to medium-sized specialist series, in which quality, flexibility and time-to-market play a crucial role. Neways products are used in sectors such as the semi-conductor, medical, automotive, telecom and defence industries. Neways has operating companies in the Netherlands, Germany, the Czech Republic, Slovakia and China, with a total of 2,611 employees at year-end 2014. Neways recorded net turnover of € 309 million In 2014. Neways is listed on Euronext Amsterdam (symbol: NEWAY).