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Electronics Production | May 24, 2005

Efore, 98 to be given notice

The statutory negotiations with employees begun at Efore in April were concluded on May 23, 2005. A total of 98 employees are to be given notice. Most of the production at the Saarijärvi plant in Finland, will be transferred to the factories in Estonia and China.
These job losses include 87 factory employees and 2 office employees at the Saarijärvi production unit. The redundancies will take place in phases by the end of 2005.

As a consequence of these personnel reductions, most of Efore's production at Saarijärvi will be transferred to the factories in Estonia and China. These measures will ensure development of long-term competitiveness for the company. At the same time, the company will continue to focus strongly on serving existing customers and in developing new customer relationships.

The non-recurring expenses from the redundancies, product transfers and downsizing of operations at the Saarijärvi factory are estimated at EUR 0.9-1.1 million. These expenses will be recorded under the second quarter of the current fiscal year.

Efore Plc is a group providing services for telecommunication and information technologies, industrial automation, medical electronics and engineering industries and its operations are to design, manufacture, and market highly advanced customized power solutions, standard power supplies, DC- and AC power systems, integration and power electronics design and manufacturing services (EDMS).

Efore’s domicile is Espoo, Finland. In Finland the company has operations also in Saarijärvi and Tampere. The international design and manufacturing operations are located in USA and China. The group has also production in Estonia and Brazil. In 2004, the group turnover was 73,2 EURm. The group employs on average 567 persons. The parent company, Efore plc, has been quoted on the I-list (Investors list) of the HEX Helsinki Exchanges since 1989, and the main list since March 1, 2004.

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