ASPOCOMP GROUP Oyj STOCK EXCHANGE RELEASE May 26, 2003 at 12:50 p.m.
PERSONNEL NEGOTIATIONS AT THE ASPOCOMP OY PADASJOKI FACTORY HAVE
The personnel negotiations regarding possible closing of the Aspocomp
Oy Padasjoki printed wiring board factory have ended. As a
consequence of the negotiations the operations of the factory will be
notably downsized. A part of the personnel may be possible to
relocate to the other Group factories, about 30 persons continue to
run the Padasjoki operations and about 40 persons will be redundant.
The fixed assets of the factory were about EUR 6.5 million at the end
of the first quarter 2003. One-time cost related to the downsizing
will be defined later. The personnel costs related to the redundancy
are estimated to be about EUR 0.5 million.
For more information, please contact CEO Jarmo Niemi
at +358 9 7597 0711.
ASPOCOMP GROUP Oyj
President and CEO
Press and Media