Electronics Production | January 31, 2005

Lagercrantz to cut costs in Electronics division

An action program is in progress at the industrial conglomerate Lagercrantz Group, Electronics division. Companies within the group includes ACTE Sp.z o.o. Poland, ACTE AB, Sweden, ACTE Supply AB, Sweden, ACTE A/S, Denmark, ACTE Oy, Finland, ISG Systems AB, Sweden, SECOS GmbH, Germany, ACTE Ltd., UK, Unitronic AG, Germany and Lagercrantz Asia Co Ltd., Hong Kong.
The short-term focus has been on cutting costs and improving internal efficiency to restore the division’s profitability. Measures taken have yet to achieve sufficient effect to ensure a positive result during the second half of 2004/2005. This is a deviation from what was indicated in the semi-annual report dated November 10, 2004.

The long-term goal of the action program remains, that is to create opportunities for a long-term favorable development of the division. Lagercrantz Group will therefore build stronger market position in niched technology areas where Lagercrantz Group can be a technology partner to the customer.
Lagercrantz Group’s intention has been to record the expenses for the action program on a current basis. As a consequence of the changes now being made in the division, the costs will now be reported during the fourth quarter (January 1 – March 31, 2005). We expect those costs to be approximately MSEK 35, mainly relating to continued personnel cut-backs, setting aside provisions for unoccupied premises and costs due to inventory obsolescence taking the future orientation of Electronics into account.

The Lagercrantz Group consists of the Parent Company, Lagercrantz Group AB with subsidiaries organized in three divisions, Electronics, Production Services and Communication.


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