Salcomp to move some production to China?

As part of this investigation, a possibility to transfer some operations from Finland to China and centralize the Finnish operations to Salo is examined. The employees in Finland were invited to the codetermination negotiations. The possible impacts on personnel in Finland concern 20 people at the most. Salcomp employs a total of 69 people in Finland, of which 57 people are in Salo and 12 people in Kemijärvi. The target is to improve profitability by reducing fixed costs, optimizing the product cost structure and enhancing productivity. Salcomp also published their fiscal report for H1/08. Here net sales grew by 5% to €138.9 million. The number of chargers delivered grew by 13% to 135.0 million pieces. Operating profit weakened by 29% to €8.0 million. Earnings per share, excluding the deferred tax, decreased by 54% to €0.11. Cash flow from operating activities, excluding the change in selling of receivables, was €9.4 million positive. Outlook for the rest of the year: Net sales in 2008 are expected to grow compared with 2007, but the operating profit in value is expected to be below the 2007 level.