Scanfil Oyj - Company Announcement

PARTNERTECH AS’ NEGOTIATIONS TO RESTRUCTURE OPERATIONS CLOSED

SCANFIL PLC    STOCK EXCHANGE RELEASE       12 JANUARY 2016   2.00  P.M.

PARTNERTECH AS’ NEGOTIATIONS TO RESTRUCTURE OPERATIONS CLOSED

Partnertech AB’s Norwegian subsidiary PartnerTech AS announced on 17 November
2015 the intent to reorganize operations of the company. At the same time, the
company announced that they will start a communications and negotiations
procedure with the representatives of the personnel groups as put forth in
Norwegian law. The possibility of closing down the production of the plant was
also discussed during the negotiations. 

The negotiation process has been closed on 11 January 2016. Based on the final
result of the negotiations, PartnerTech AB’s Board of Directors has decided to
start closing down production of the plant. The negative impact on earnings
resulting from the factory closing is estimated at approximately EUR 5 million
– EUR 7.5 million. The respective negative cash impact is estimated at
approximately EUR 3 million – EUR 5.5 million.  The plan is to conclude most of
the actions by 30 June 2016 and an impact on earnings is mainly focused to
first quarter of 2016. 

The rolling 12 months turnover of PartnerTech AS on 30 September 2015 was about
EUR 6.2 million and operating loss about EUR 4.1 million. 



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 an international contract manufacturer and systems supplier.
Its customers include international operators in the automation, energy, data
transmission and health technology sectors, and companies operating in fields
related to urbanization, among other industries. Scanfil is listed on the
Helsinki Stock Exchange. 

In 2015 Scanfil acquired PartnerTech AB, the leading Swedish contract
manufacturer. Partnertech’s  turnover in 2014 was SEK 2.2 billion. Company has
operations in Sweden, Norway, Finland, Poland, the UK, the United States and
China.