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PCB | November 08, 2006

Aspocomp to cut<br>240 in Finland

Aspocomp has today invited its personnel at the Finnish Salo and Padasjoki plants together with the Group's R&D personnel to statutory employer-employee co-determination negotiations.
The operations of the Salo plant, including its branch in Padasjoki, have made considerable loss during the current year. The negotiations concern about 430 personnel at Aspocomp Oy. If the negotiations will result in personnel cuts, they would affect a maximum of about 240 personnel.

The Salo plant is being converted into a manufacturer of new and technologically demanding products that are at the early phase of their life cycle. The conversion can also cause balance sheet write-offs. To enable the manufacture of new technology products, new machinery and process lines are currently being implemented at the plant. Volume production has been transferred to Asia for production-related and financial reasons in order to serve the global customers cost-effectively in the fastest growing markets.

Development projects at the other Group facilities are proceeding as planned. The construction of the Indian plant continues and further capacity expansion is in progress at the Chinese plant in order to secure larger volumes in the future.

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