ASPOCOMP GROUP OYJ STOCK EXCHANGE RELEASE May 26, 2004 at 8:00 AM
DECISION OF THE LABOUR COURT IN EVREUX, FRANCE ON REDUNDANCY NOTICES
OF THE CLOSING OF ASPOCOMP S.A.S.
The Labour Court in Evreux, France has rendered its decision on
redundancy notices of the closing of heavily unprofitable Aspocomp
S.A.S. in 2002. According to the decision Aspocomp should pay to 388
persons issued with notice a compensation equivalent to six months
remunaration due to unfair dismissal. The total amount of the
compensation is approximately EUR 6.6 million.
According to Aspocomp’s legal advisors, the decision is not in line
with established court practice. Aspocomp has filed an appeal
against the decision. It is estimated at the moment that the final
decision will be obtained in a few years.
For further information, please contact CEO Maija-Liisa Friman,
tel. +358 9 7597 0711.
ASPOCOMP GROUP OYJ
President and CEO
ASPOCOMP IN BRIEF
The Aspocomp Group serves the electronics industry by supplying
high-tech electronic components and services such as PCBs (printed
circuit boards), and PCB-related designs as well as mechanics and
modules. Aspocomp’s products are used in the electronics industry,
mobile handsets, telecommunications infrastructure, automotive and
other industrial applications. The Aspocomp Group’s production
facilities are located in Finland, China and Thailand. In 2003, the
Group net sales were EUR 180 million approximately, and the Group
had some 3,300 employees. The parent company, Aspocomp Group Oyj,
has been listed on the Helsinki Exchanges since 1999.
The Helsinki Exchanges