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23
April
2012

New strategy for Cencorp

Cencorp's Board of Directors has announced the company's new strategy.
The company said in a release that the new strategy would be in effect immediately.

“We have done systematic work for changing the company's strategy and improving profitability already for some time. Now hard work continues in concrete actions,” said Iikka Savisalo, who started as Cencorp's Managing Director 3 April 2012.

The company said the outlook for the year will not be affected by the strategy. Cencorp estimated its net sales will increase compared to 2011 and the full-year EBITDA will be positive.

Changes

According to the new strategy, Decoration Operations located in Guangzhou China are no longer part of Cencorp's core business. The company said the unit was unprofitable in 2011 and would require investment to develop. The company said it is searching for partners in this area , if this fails, they will consider and exit from the business.

In the core business area of life cycle management of laser and automation systems and equipment, the main development focus will be especially on software that relates to laser and automation applications and equipment the company said in a statement.

Another change will be that a separate profit center will be formed, selling stand alone equipment. This unit will cooperate closely with independent manufacturing partners according to the company, and minority shareholding arrangements may be considered.
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