Cencorp Corporation Stock Exchange Release 2 October 2013 at 12.00 Finnish time
CENCORP’S STATUTORY NEGOTIATIONS CONCLUDED
The statutory negotiations started at Cencorp 11 September 2013 have been concluded. As a result of the negotiations no notices will be given but the targeted savings will be gained with lay-offs carried out in phases, with flexible working hour arrangements and by decreasing certain remunerations as well as by outsourcing certain ramp up functions. The lay-offs do not concern Cencorp’s Clean Energy Solutions segment.
”In the negotiations Cencorp’s personnel showed very constructive attitude and together we were able to work out a solution with no notices. Lay-offs will be carried out in phases to secure deliveries and service of Cencorp’s automation solutions”, says Iikka Savisalo, Cencorp’s CEO.
In Mikkeli, 2 October 2013
For more information, please contact:
Iikka Savisalo, President and CEO, tel. +358 40 521 6082, firstname.lastname@example.org
NASDAQ OMX, Helsinki
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. 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 customers are manufacturers of automotive electronics, mobile phone antennas and photovoltaic modules as well as manufacturers operating in telecommunications and in industrial automation. Cencorp's head office is located in Mikkeli, Finland. The company is part of the Finnish Savcor Group.