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2009-08-27 08:00:00 CEST 2009-08-27 08:02:41 CEST REGULATED INFORMATION Elcoteq - Company AnnouncementElcoteq Streamlines Organization and Begins Personnel Negotiations in FinlandElcoteq SE Stock Exchange Release August 27, 2009, at 09.00 am (EET) Elcoteq has decided to combine two current Business Areas, Home Communications and Personal Communications, under a new Strategic Business Unit (SBU), Consumer Electronics. Communications Networks continues as an independent SBU, now named as System Solutions. Two new members have been appointed to the Management Team; Mr. Sándor Hajnal being responsible for Human Resources and Mr. Tomi Saario being responsible for New Sales and Business Development. The personnel reductions related to the organizational changes are affecting globally approximately 150 persons. The personnel negotiations in Finland have started today. Since the beginning of 2008, Elcoteq has had three Business Areas: Personal Communications, Home Communications and Communications Networks. They have been reported as separate segments. Personal Communications and Home Communications Business Areas will now be combined, and in the future the company shall only have two Strategic Business Units (SBU): Consumer Electronics and System Solutions. Both SBUs are responsible for managing and developing their existing customer relationships and applicable service offerings, while Group Operations and Sourcing is responsible for supply chain and production. Consumer Electronics represents approximately 75% of the company's net sales and System Solutions represents approximately 25%. Consumer Electronics will cover products such as mobile and wireless phones, their parts and accessories, set-top boxes, flat panel TVs and other consumer products. System Solutions will cover wireless and wireline infrastructure systems and modules, enterprise network products and various other industrial segment products. By combining the Home Communications and Personal Communications segments under the Consumer Electronics SBU, the Company can better utilize the synergies between these businesses. Company aims also at further cost reductions by streamlining and simplifying the organization by removing organizational layers and overlapping roles. More emphasis is also put on new sales activities which are now under a separate global function, New Sales and Business Development. It focuses on identifying new business opportunities, acquiring new customers and exploring new product segments for the company. Two new members have been invited to Elcoteq's Management Team from within Elcoteq. Mr. Hajnal has been responsible for Elcoteq's global HR for the past year, and Mr. Saario has been responsible for Elcoteq's Group Strategy and Mergers and Acquisitions. The new Management Team consists of the following persons: Mr. Jouni Hartikainen, President and CEO Mr. Sándor Hajnal, Senior Vice President, Human Resources Mr. Vesa Keränen, Senior Vice President, Consumer Electronics Mr. Markus Kivimäki, Senior Vice President, Legal Affairs Mr. Tommi Pettersson, Senior Vice President, System Solutions Mr. Mikko Puolakka, CFO Mr. Tomi Saario, Senior Vice President, New Sales and Business Development Mr. Roger Taylor, Senior Vice President, Group Operations and Sourcing As a result of streamlining the organization, the company is planning some personnel reductions in its group and former Business Area functions. These reductions will affect globally approximately 150 employees. Personnel negotiations have been started today with the personnel representatives in Finland. The change in financial segment reporting will become effective as of October 1, 2009. The appointments will take effect immediately. ELCOTEQ SE Minna Aila Director, Communications and Corporate Responsibility Further information: Jouni Hartikainen, President and CEO, +358 10 413 11 Mikko Puolakka, CFO, tel. +358 10 413 1287 Minna Aila, Director, Communications and Corporate Responsibility, tel. +358 10 413 1908 About Elcoteq Elcoteq SE is a leading electronics manufacturing services (EMS) company in the communications technology field. Elcoteq's global service offering covers the entire lifecycle of products, from product development to after-market services. By further combining mechanics expertise into its service offering, Elcoteq's vision is to be a leading integrated electronics manufacturing services (IEMS) company. Elcoteq provides global end-to-end solutions consisting of product development services, supply chain management, NPI, manufacturing, and after market services for the whole lifecycle of its customers' products. These products include Consumer Electronics products such as mobile and wireless phones, their parts and accessories, set-top boxes, flat panel TVs and other consumer products as well as System Solutions products such as wireless and wireline infrastructure systems and modules, enterprise network products and other industrial segment products. The Group's consolidated net sales for 2008 totaled 3.4 billion euros and it employs approximately 13,000 persons. Elcoteq SE is listed on the Nasdaq OMX Helsinki Ltd. For more information visit the Elcoteq website at www.elcoteq.com. |
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