ASPOCOMP GROUP OYJ STOCK EXCHANGE RELEASE November 8, 2006 at 8:30 AM
ASPOCOMP STARTS CO-DETERMINATION NEGOTIATIONS
Aspocomp has today invited its personnel at the Finnish Salo and Padasjoki plants
together with the Group’s R&D personnel to statutory employer-employee co-
determination negotiations. The operations of the Salo plant, including its
branch in Padasjoki, have made considerable loss during the current year. The
negotiations concern about 430 personnel at Aspocomp Oy. If the negotiations will
result in personnel cuts, they would affect a maximum of about 240 personnel.
The Salo plant is being converted into a manufacturer of new and technologically
demanding products that are at the early phase of their life cycle. The
conversion can also cause balance sheet write-offs. To enable the manufacture of
new technology products, new machinery and process lines are currently being
implemented at the plant. Volume production has been transferred to Asia for
production-related and financial reasons in order to serve the global customers
cost-effectively in the fastest growing markets.
Development projects at the other Group facilities are proceeding as planned. The
construction of the Indian plant continues and further capacity expansion is in
progress at the Chinese plant in order to secure larger volumes in the future.
For further information, please contact Maija-Liisa Friman, CEO,
tel. +358 9 7597 0711.
ASPOCOMP GROUP PLC
President and CEO
Aspocomp: Innovative interconnection solutions for the electronics industry
The Aspocomp Group offers and develops innovative interconnection solutions for
the electronics industry in close cooperation with its customers. We are strongly
positioned as a supplier of mobile data terminal equipment components and aim to
further bolster our position as a supplier to the automotive industry and data
communications networks. We offer our global customers a fast road to mass
production through flexible and cost-effective adaptation of new technologies.
The Aspocomp Group’s production facilities are located close to its customers in
Finland, China, and Thailand. In 2005, the Group’s net sales stood at EUR 154
million and it had about 3,400 employees.
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