Kitron: Close down of Kitron Karlskoga
(Thomson Reuters ONE) -
Following information provided on November 9, 2011 related to changes at Kitron
AB in Karlskoga, Kitron has reached a decision to close down the site.
The back ground is that the single largest customer has, for some time, been in
discussion with Kitron leading to a transfer of Manufacturing to Kitron's site
in Ningbo, China. Together with lower orders within the defence segment this
lead to the previously announced decision on restructuring of the Karlskoga
unit.
Since then a review of the current situation including customers has been done
leading to a decision of a total close down of the site. Kitron's assessment is
that the future does not provide enough financial foundation to continue the
operations at the site. Negotiations with the local union will continue and
Kitron aim to be finished within the first quarter 2012. The previously given
notice to all employees in Karlskoga is still valid but due to internal
transfers of manufacturing within Kitron there is a possibility that some
employees in Karlskoga might be offered to join Kitron AB in Jönköping but it is
too early to predict any outcome of the negotiations in terms of positions or
numbers.
The cost of the close down is estimated to NOK 15 million (SEK 18 million) and
it is expected that these costs will be booked in Q4 2011.
For further information please contact:
Thomas Löfgren, General Manager Kitron Sweden, telephone: (+46) 70 889 53 26 or
e-mail:Thomas.lofgren(at)kitron.com
Jørgen Bredesen, CEO of Kitron ASA, telephone: (+47) 4825 2584, or e-
mail:jorgen.bredesen(at)kitron.com
Kitron is one of Scandinavia's leading electronic manufacturing services
companies for the Defence, Energy/Telecoms, Industry, Medical equipment and
Offshore/Marine sectors. The company is located in Norway, Sweden, Lithuania,
Germany, China and the United States. Kitron had a revenue of about NOK 1.6
billion in 2010 and has about 1,100 employees. www.kitron.com
This information is subject of the disclosure requirements acc. to §5-12 vphl
(Norwegian Securities Trading Act)
This announcement is distributed by Thomson Reuters on behalf of
Thomson Reuters clients. The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and
other applicable laws; and
(ii) they are solely responsible for the content, accuracy and
originality of the information contained therein.
Source: Kitron ASA via Thomson Reuters ONE
[HUG#1572336]
Unternehmensinformation / Kurzprofil:
Datum: 19.12.2011 - 12:29 Uhr
Sprache: Deutsch
News-ID 98318
Anzahl Zeichen: 2861
contact information:
Town:
Oslo
Kategorie:
Business News
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