Announcement No. 13 - 2008/09 January 21, 2009
Thrane & Thrane streamlining the organisation
Thrane & Thrane continues the efforts to reorganise a number of the company's
supply chain functions in order to utilise resources more effectively. Recent
years' rationalisation measures implemented through the outsourcing of large
parts of production enables us to combine a number of production tasks at
Aalborg. Other activities within product development, systems, sales and
administration have also been reviewed for the purpose of streamlining the
organisation and enhancing efficiency.
The changes are scheduled for implementation in the spring and summer of 2009.
As an overall effect of the changes, it is expected that about 90 of the
Group's some 700 employees will be laid off, most of them in production.
When implemented, the restructuring measures are expected to generate total
annual savings of some DKK 30 million. The changes will involve costs of around
DKK 14 million. The full amount will be recognised in Q3 of the current
financial year (November 1, 2008 - January 31, 2009).
The changes will be planned and implemented so as to assure the quality of
Thrane & Thrane products and maintain the company's high reliability of
delivery.
Sales of Thrane & Thrane products are performing in line with forecasts.
However, the global financial situation involves increased market uncertainty,
an additional factor underlying the efficiency improvement measures.
The company does not at present see any reason to change the revenue and
operating profit guidance for 2008/09 previously provided except for the
non-recurring costs referred to above.
Thrane & Thrane's third quarter interim report is scheduled for release on
February 26, 2009.
For further information, please contact
John Alexandersen, Vice President, Group Communications
Tel.: +45 39 55 88 35 or + 45 22 72 38 22 (mobile)
E-mail: ja@thrane.com
About Thrane & Thrane
Thrane & Thrane is the world's leading manufacturer of equipment and systems
for global mobile communication based on sophisticated satellite and radio
technology. Since its incorporation in 1981, the company has established a
strong position within global mobile communication solutions based on the
Inmarsat system, and today Thrane & Thrane provides equipment for maritime,
land-based and aeronautical use. The company's communication products are sold
throughout the world under the brands Thrane & Thrane, EXPLORER® and SAILOR®
through distributors and partners. Thrane & Thrane is listed on OMX The Nordic
Exchange in Copenhagen (THRAN). www.thrane.com.
