Elektrobit Group Oyj - EB HAS CONCLUDED PERSONNEL NEGOTIATIONS AND CLOSES ITS SITE IN ESPOO
April 16, 2012
EB HAS CONCLUDED PERSONNEL NEGOTIATIONS AND CLOSES ITS SITE IN ESPOO
PRESS RELEASE
Free for publication on April 16, 2012 at 1.00 p.m. (CEST +1)
EB HAS CONCLUDED PERSONNEL NEGOTIATIONS AND CLOSES ITS SITE IN ESPOO
EB (Elektrobit) has concluded personnel negotiations concerning closing its site in Espoo. The negotiations were started on March 12, 2012. As a result of the negotiations, EB has today decided to close its Wireless Business Segment site in Espoo and consolidate its operations in Finland in its larger units in Oulu, Kajaani and Tampere. The negotiations concerned 25 employees.
By closing the site, EB aims to rationalize its operations and improve the cost structure. As an alternative for termination of the employment relationships, EB offers positions for each employee at Company's other sites. Closing of the site may lead to dismissals of 25 employees at the maximum. EB has approximately 500 employees in Finland.
The closing of the site has no significant effect on EB's net sales, operating result or balance sheet in 2012.
Further information:
Hannu Huttunen
President, Wireless Business Segment
Tel. +358 40 344 3507
Distribution:
Major media
EB, Elektrobit Corporation
EB develops advanced technology and transforms it into enriching end-user experiences. EB specializes in demanding embedded software and hardware solutions for the automotive industry and wireless technologies. The company's net sales for the year 2011 totaled EUR 162.2 million. Elektrobit Corporation is listed on NASDAQ OMX Helsinki. www.elektrobit.com
