Aspocomp Group - Company Announcement

ASPOCOMP’S CO-DETERMINATION NEGOTIATIONS: TEUVA PLANT TO CLOSE

Espoo, Finland, 2014-11-20 14:30 CET (GLOBE NEWSWIRE) -- 
Aspocomp Group Plc, Company Announcement, November 20, 2014 at 3:30 p.m.

The statutory labor co-determination negotiations concerning all Aspocomp Group
Plc personnel at the Teuva plant, launched in October, were concluded today. As
a result, it was decided that a total of 34 personnel, consisting of 28
non-salaried and 6 salaried employees, will be made redundant and production at
the Teuva plant will be closed down. Two persons resigned during negotiations.
A decision was taken to consolidate Aspocomp's production and development in
Finland to the company's Oulu plant. 

The negotiations were launched as a part of Aspocomp's strategic
transformation, so that the company can meet customers' demand throughout the
product life cycle and improve its own factory's utilization and profitability
better than before. 

The company expects that combining production and development in Finland will
yield annual savings of approximately EUR 0.9 million. It is expected that the
closing of the Teuva plant will not affect the company's net sales or its
development in the coming years. The closing of the Teuva plant will generate a
one-time cost of about EUR 1.5 million to be recognized in the last quarter of
2014. 


For further information, please contact Mikko Montonen, CEO,
tel. +358 20 775 6860, mikko.montonen(at)aspocomp.com.

ASPOCOMP GROUP PLC

Mikko Montonen
CEO


Distribution:
Nasdaq OMX Helsinki Ltd
Major media
www.aspocomp.com


Aspocomp - PCB technology company

Aspocomp develops and sells PCB manufacturing services, focusing on the
end-to-end fulfillment of customers' PCB needs. Our seasoned professionals help
customers to create the most optimal PCB designs, both in terms of performance
and cost. Our trimmed production lines produce the most challenging designs
with the shortest lead-times in the industry. Operating as a service business,
we provide one-stop access to technology solutions and competitive products for
all PCB technologies. 

A printed circuit board (PCB) is the principal interconnection method in
electronic devices. PCBs are used for electrical interconnection and as a
component assembly platform in most electronic applications. Aspocomp's PCBs
are used in many applications, such as telecommunication networks and devices,
automotive electronics, security and medical systems, chipset development and
industrial automation.