CENCORP CORPORATION STOCK EXCHANGE RELEASE June 4, 2014 at 14.00 FINNISH TIME
CENCORP´S STATUTORY NEGOTIATIONS ARE CLOSED
Cencorp´s statutory negotiations, started at May 16, 2014 are closed. As the result of the negotiations personnel of Life Cycle Management segment (“LCM”) and Laser and Automation Solutions segment (“LAS”) will be reduced by seven employees. Furthermore, Cencorp´s spare parts operations and service will be relocated to Cencorp´s Estonian based subsidiary by the end of 2014. Reductions will be carried out by dismissals and retirement arrangements.
By decided actions Cencorp will improve its profitability and cost-effectiveness of the operations as well as to strengthen competitiveness in its production automation segments.
The personnel working within Cencorp’s Clean Energy segment were excluded from the statutory negotiations.
In Mikkeli, June 4, 2014
CENCORP CORPORATION
For more information:
Iikka Savisalo
President and CEO
Cencorp Oyj
Tel. +358 40 521 6082,
Email: iikka.savisalo@cencorp.com
Distribution:
NASDAQ OMX, Helsinki
Main media
www.cencorp.com
Cencorp Corporation is a leading provider of industrial automation solutions. The equipment in the product portfolio include, automated applications of odd-form assembly and depaneling for the electronic boards, testing equipment and advanced materials processing by laser. All Cencorp's offering improves the efficiency of the customers' production. Cencorp has clean technology, especially photovoltaic (PV) solutions as its other business segment. Cencorp now offers its automated manufacturing technology of the PV modules, manufactures and sells photovoltaic modules, based on Cencorp´s own technology as well as key components of photovoltaic modules. 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.