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Electronics Production | August 12, 2010

GPV to close down facility in Denmark

To further optimize the operation, GPV has decided to consolidate the two Danish mechanics plants in Tarm and Glostrup having only one site in Tarm going forward.
In practical terms the Glostrup facility will be closed by mid-2011 and the continuing activities will be integrated into the company's Tarm facility. This will result in a net reduction of approx. 35 employees.

The year 2010/11 has started well for GPV and both the sales and order-intake has for the first 4 months been better than planned. The consolidation of the two Danish sites will not impact the expectation for 2010/11. The annual report for 2009/10 (ending 31. March 2010) shows an EBIT of DKK 22 million., a result before tax of DKK 9 million and an operational cash flow of DKK 47 million.

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