Aspocomp Group Plc
Company Announcement
ASPOCOMP RENEWS ITS STRATEGY AND SEEKS GROWTH AND COST-EFFICIENCY
Espoo, Finland, 2014-10-09 08:45 CEST (GLOBE NEWSWIRE) —
Aspocomp Group Plc, Company Announcement, October 9, 2014 at 9:45 a.m.
Aspocomp is actively seeking new customer groups to round out its operations in the telecommunications segment. Expansion targets include the automotive, pharmaceutical, industrial electronics and security/aerospace sectors in particular. In the future, Aspocomp will pursue growth not only in its main markets in Scandinavia and Central Europe, but also in North America.
Under the new strategy, Aspocomp will offer more comprehensive service to its customers. Operating as a service business, the company provides technology solutions and competitive products. With its new strategy, the company can meet customers’ demand throughout the product life cycle and improve its own factory’s utilization and profitability better than before. To a growing extent, products will be manufactured utilizing carefully selected and cost-effective production lines in Asia. In Finland, the company is looking into combining production and development activities and focusing on the latest and most challenging technologies as well as the production of small and quick-turn series.
As part of Aspocomp’s strategic transformation the company has today issued a notice on statutory labor co-determination concerning all its personnel at the Teuva plant regarding the consolidation of production in Finland and the possible closing of the Teuva plant. The company expects that combining production and development in Finland will yield annual savings of approximately EUR 0.9 million. The cooperation negotiations concern a total of 36 employees.
The company will publish a stock exchange release concerning the decisions as soon as the cooperation negotiations are concluded. It is estimated that the cooperation negotiations will be concluded by the end of November. In the event the negotiations lead to the closing of the Teuva plant, it would generate a one-time cost of about EUR 1.5 million to be recognized in the last quarter of 2014.
The company’s full-year guidance remains unchanged. In 2014, net sales are expected to be between EUR 20 and 25 million and operating profit without one-time items between EUR -0.5 and EUR 1.5 million.
For further information, please contact Mikko Montonen, CEO, tel. +358 20 775 6860, mikko.montonen(at)aspocomp.com.
ASPOCOMP GROUP PLC
Mikko Montonen
CEO
Distribution:
Nasdaq OMX Helsinki
Major media
www.aspocomp.com
Aspocomp – PCB technology company
Aspocomp develops and sells PCB manufacturing services, focusing on the end-to-end fulfillment of customers’ PCB needs. Our seasoned professionals help customers to create the most optimal PCB designs, both in terms of performance and cost. Our trimmed production lines produce the most challenging designs with the shortest lead-times in the industry. Operating as a service business, we provide one-stop access to technology solutions and competitive products for all PCB technologies.
A printed circuit board (PCB) is the principal interconnection method in electronic devices. PCBs are used for electrical interconnection and as a component assembly platform in most electronic applications. Aspocomp’s PCBs are used in many applications, such as telecommunication networks and devices, automotive electronics, security and medical systems, chipset development and industrial automation.
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