Selling of Elcoteq SE`s Tallinn Manufacturing Operations Completed
(Thomson Reuters ONE) - Elcoteq SEStock Exchange ReleaseAugust 3, 2009, at 09.30 am (EET)Elcoteq SE and Ericsson have completed a transaction on July 31, 2009whereby the majority of the machinery, equipment and materials ofElcoteq's Tallinn manufacturing operations were sold to Ericsson. Thetransaction included also the transfer of the lease agreementconcerning manufacturing premises and employment agreements relatedto these operations.Approximately 1,200 of Elcoteq's 1,600 employees in Tallinn weretransferred to Ericsson with existing terms and conditions ofemployment. Elcoteq will continue operations in Tallinn on a smallerscale in a specialized plant. Deliveries to Ericsson will continuefrom other Elcoteq plants. European high volume manufacturing will beconcentrated in Elcoteq's plant in Pécs, Hungary.ELCOTEQ SEMinna AilaDirector, Investor Relations and Corporate ResponsibilityFurther information:Jouni Hartikainen, President and CEO, +358 10 413 11Mikko Puolakka, CFO, tel. +358 10 413 1287Tommi Pettersson, President, Communications Networks, tel. +358 10413 1654About ElcoteqElcoteq SE is a leading electronics manufacturing services (EMS)company in the communications technology field. Elcoteq's globalservice offering covers the entire lifecycle of products, fromproduct development to after market services. By further combiningmechanics expertise into its service offering, Elcoteq's vision is tobe a leading integrated electronics manufacturing services (IEMS)company.Elcoteq provides global end-to-end solutions consisting of productdevelopment services, supply chain management, NPI, manufacturing,and after market services for the whole lifecycle of its customers'products. These products include Personal Communications productssuch as mobile phones and their parts, Home Communications productssuch as set-top boxes and flat panel TVs as well as CommunicationsNetworks products such as base-stations, tower-top amplifiers, andmicrowave systems.The Group's consolidated net sales for 2008 totaled 3.4 billioneuros. Elcoteq SE is listed on the Nasdaq OMX Helsinki Ltd. For moreinformation visit the Elcoteq website at www.elcoteq.com.This announcement was originally distributed by Hugin. The issuer is solely responsible for the content of this announcement.
Datum: 03.08.2009 - 08:30 Uhr
Sprache: Deutsch
News-ID 4248
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