SCANFIL PLC STOCK EXCHANGE RELEASE 22 NOVEMBER 2014 1.45 P.M.
SCANFIL TO ADJUST PRODUCTION AT ITS SIEVI PLANT TO DEMAND
Partially decreased demand by a significant customer, and demand postponed until the second half of 2015 by the same customer, has created a need to adjust production at the Sievi plant of Scanfil EMS Oy, a subsidiary of Scanfil plc.
Scanfil EMS will launch statutory employee negotiations concerning all employees at the plant. A proposal for negotiation was submitted to all employee groups today, 22 November 2014.
According to initial estimates made by the company, the statutory employee negotiations may lead to temporary lay-offs of no more than 90 days between 1 December 2014 and 30 April 2015. A total of 25–45 employees at a time are projected to be affected. The Sievi plant has approximately 200 employees.
The measures will not affect the net sales and operating profit outlook for 2014 published by Scanfil plc on 15 September 2014.
SCANFIL PLC
Petteri Jokitalo
CEO
Additional information:
CEO Petteri Jokitalo
Tel +358 8 4882 111
Distribution NASDAQ OMX, Helsinki
Major Media
www.scanfil.com
Scanfil Group is engaged in contract manufacturing for international telecommunications technology and professional electronics manufacturers. Scanfil has almost 40 years of experience in demanding contract manufacturing. Scanfil is a systems supplier that offers its products and services to international telecommunications systems manufacturers and professional electronics customers. Typical products are equipment systems for mobile and public switched telephone networks, automation systems, frequency converters, lift control systems, equipment and systems for electricity production and transmission, analysers, slot machines and different meteorological instruments. The company has production facilities in China, Estonia, Germany, Hungary and Finland.