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Electronics Production | August 18, 2005

Elektromekan under pressure

Lower demand and increased competition from manufacturers in lower cost regions has lead to declining shipments for Elektromekan during January - June 2005.

The net turnover for Elektromekan decreased during the period to EUR 23.5 million(31.4). Incoming orders during the period where in line with the shipments and reached EUR 22.9 million(31). The company posted an operating loss of EUR -294 000(1.55 M) reported the mother company Westergyllen in it's latest report. One of the company's volume products the last years has been circuit boards for batterys and cell phones. Due to newly developed technology the production of this product will be terminated during 2005 and 2006. In April this year a restructuring programme was formed which will lead to more than EUR 2 M in yearly savings for the company.
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