CENCORP CORPORATION STARTS STATUTORY NEGOTIATIONS IN ITS INDUSTRIAL AUTOMATION RELATED SEGMENTS. THE STATUTORY NEGOTIATIONS DO NOT CONCERN THE CLEAN ENERGY SOLUTIONS BUSINESS


Cencorp Corporation                                                        Stock Exchange Release 11 September 2013 at 12.15 Finnish time                                                         

 

CENCORP CORPORATION STARTS STATUTORY NEGOTIATIONS IN ITS INDUSTRIAL AUTOMATION RELATED SEGMENTS. THE STATUTORY NEGOTIATIONS DO NOT CONCERN THE CLEAN ENERGY SOLUTIONS BUSINESS

 

In order to improve the company’s profitability and cost-effectiveness of the operations and the sales as well as to strengthen competitiveness in its traditional industrial automation related segments (LAS, Laser and Automation Solutions, and LCM, Life Cycle Management), and to adjust its operations to the changed business environment Cencorp has decided to investigate the options of restructuring, downsizing and outsourcing of the company’s operations relating to LAS and LCM business. In relation to the efficiency improvement the company is looking for possibilities to increase flexible working time arrangements.  

To adjust its operations Cencorp starts statutory negotiations in all its offices in Finland based on production-related and financial grounds and on grounds related to the restructuring of the operations. The statutory negotiations will include all Cencorp employees in Finland excluding the personnel working within Cencorp’s Clean Energy Solutions segment. The estimate of reduction in labor is max. nine employees.

 

In Mikkeli, 11 September 2013

 

Cencorp Corporation

 

Board of Directors

 

For more information please contact:

Cencorp: Iikka Savisalo, President and CEO, tel. +358 40 521 6082, iikka.savisalo@savcor.com

 

 

Distribution:

NASDAQ OMX, Helsinki

Main media

www.cencorp.com

 

 

Cencorp Corporation is a leading provider of industrial automation solutions. The equipment included in the product portfolio designed for depaneling, odd-form assembly, testing and laser materials processing substantially improves the efficiency of customers' production. Cencorp has selected clean technology as its other business segment, especially photovoltaic solutions. Cencorp manufactures and sells photovoltaic modules, based on Cencorp´s own technology, key components of photovoltaic modules as well as their manufacturing technology. The product range also includes EMI shielding solutions, RFID antennas, other flexible circuits including for example conductive back sheets used in photovoltaic modules and mobile phone antennas. Cencorp's head office is located in Mikkeli, Finland. The company is part of the Finnish Savcor Group.