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© filipefrazao84 dreamstime.com_ Electronics Production | October 09, 2019

Frontier to close Romanian operations

Frontier Smart Technologies Group has decided to cease operations at their Romanian base.

As previously mentioned in the company’s market announcements (9th May and 7th August 2019), all business operations were up for review: cost base and structure in light of the downturn in revenues in 2019 were all under restructuring considerations. "After detailed consideration, Frontier has concluded that it is necessary to close its operations in Romania. It is expected that the closure will be substantially completed by the end of the year [sic 2019] and doing so is expected to reduce the group’s cost base in 2020 by around USD $2 million", a press release states. The group’s audio engineering resources will henceforth be centred in the UK. A plan to manage a transfer of specific skills and expertise to the Cambridge team has been prepared and will be enacted in due course, it continues.
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October 11 2019 3:09 pm V14.5.0-1