Aspocomp Group - Company Announcement

ASPOCOMP RENEWS ITS STRATEGY AND SEEKS GROWTH AND COST-EFFICIENCY

Espoo, Finland, 2014-10-09 08:45 CEST (GLOBE NEWSWIRE) -- 
Aspocomp Group Plc, Company Announcement, October 9, 2014 at 9:45 a.m.

Aspocomp is actively seeking new customer groups to round out its operations in
the telecommunications segment. Expansion targets include the automotive,
pharmaceutical, industrial electronics and security/aerospace sectors in
particular. In the future, Aspocomp will pursue growth not only in its main
markets in Scandinavia and Central Europe, but also in North America. 

Under the new strategy, Aspocomp will offer more comprehensive service to its
customers. Operating as a service business, the company provides technology
solutions and competitive products. With its new strategy, the company can meet
customers' demand throughout the product life cycle and improve its own
factory's utilization and profitability better than before. To a growing
extent, products will be manufactured utilizing carefully selected and
cost-effective production lines in Asia. In Finland, the company is looking
into combining production and development activities and focusing on the latest
and most challenging technologies as well as the production of small and
quick-turn series. 

As part of Aspocomp's strategic transformation the company has today issued a
notice on statutory labor co-determination concerning all its personnel at the
Teuva plant regarding the consolidation of production in Finland and the
possible closing of the Teuva plant. The company expects that combining
production and development in Finland will yield annual savings of
approximately EUR 0.9 million. The cooperation negotiations concern a total of
36 employees. 

The company will publish a stock exchange release concerning the decisions as
soon as the cooperation negotiations are concluded. It is estimated that the
cooperation negotiations will be concluded by the end of November. In the event
the negotiations lead to the closing of the Teuva plant, it would generate a
one-time cost of about EUR 1.5 million to be recognized in the last quarter of
2014. 

The company's full-year guidance remains unchanged. In 2014, net sales are
expected to be between EUR 20 and 25 million and operating profit without
one-time items between EUR -0.5 and EUR 1.5 million. 


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
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.