ASPOCOMP STARTS CO-DETERMINATION NEGOTIATIONS IN THE PARENT COMPANY AND ASPOCOMP OY

Aspocomp Group Oyj   Company Announcement  October 23, 2007 at 10:30 am 

 

Despite the cost saving measures taken so far, profit and profitability of Aspocomp Group Oyj (“the Parent company”) and Aspocomp Oy (“the Company”) have not developed in line with expectations of the Parent company owners and the management. Therefore, and for financial and production-related reasons, the Parent company and the Company are planning further measures to increase cost-effectiveness. The planned measures would concern all functions in the Parent company and the Company, excluding the CAD design unit. The negotiations do not affect Aspocomp Oulu Oy.

 

If implemented, the planned measures would lead to organizational rearrangements as well as job cuts of 15 personnel maximum at the Parent company and of 15 personnel maximum at the Company.

 

The statutory labor co-determination negotiations with the representatives of the salaried personnel both at the Parent company and the Company will commence on October 30, 2007. The negotiations will cover the grounds for and effects of the planned measures as well as possible solutions for individual employees in accordance to the law on co-determination negotiations.

 

For further information, please contact Jari Ontronen, Director, Business transformation, tel. +358 9 7597 0718.

 

ASPOCOMP GROUP OYJ

 

 

 

Maija-Liisa Friman

President and CEO

 

 

Aspocomp: Innovative interconnection solutions for the electronics industry

 

The Aspocomp Group develops and offers high technology interconnection solutions for the electronics industry in close cooperation with its customers. Aspocomp supplies printed circuit boards for mobile data terminal equipments, data communications networks and automotive industry. The company supports its global customers in developing new technologies and offers a fast route from product development to applications and volume production. The Group’s production facilities are located in Finland, China and Thailand. In 2006, its net sales stood at EUR 149 million and it had about 3,350 employees.

 

Distribution:

The Nordic Exchange

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www.aspocomp.com