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Electronics Production | November 15, 2006

Scanfil President resign, lower forcast

Finland based EMS-provider Scanfil plc 's President Veli Torvinen has today informed to resign for personal reasons. Also Scanfil announced that demand for its telecommunications network products will decline significantly in the present quarter.
The notice period of Mr Torvinen's Manager Contract is six months. The Board of Directors of Scanfil plc will start immediate actions to find a new President. Veli Torvinen will continue working until a new President has been appointed.

According to the most resent forecasts and estimates provided by customers, the demand for Scanfil's telecommunications network products will decline significantly in the present quarter. The weakening of the demand is the result of both seasonal fluctuation and corporate restructurings in the sector, which affect Scanfil's customers' logistics management and will lead to temporary interruptions in the delivery of products at the end of the year.

Due to the weakened sales outlook, Scanfil will update the forecasts for its 2006 turnover and profitability. Based on the available forecasts, the Group's sales in the second half of 2006 are about to fall short of the first half of the year sales, and full-year operating profit is predicted to fall clearly below 5% of turnover.
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November 15 2018 5:25 pm V11.9.0-1