Elektrobit Group Oyj - EB, ELEKTROBIT CORPORATION, ANNOUNCES ACTIONS TO IMPROVE PROFITABILITY
August 08, 2008
EB, ELEKTROBIT CORPORATION, ANNOUNCES ACTIONS TO IMPROVE PROFITABILITY
STOCK EXCHANGE RELEASE
Free for publication on, August 8, 2008 at 8.00 pm. (CEST+1)
EB, ELEKTROBIT CORPORATION, ANNOUNCES ACTIONS TO IMPROVE PROFITABILITY
Improvement of profitability is the main focus of EB during the second half of 2008.
The own R&D investments of EB will be adjusted to a sustainable level. Thus, they will in second half of 2008 reduce compared to the first half of 2008.
The corporate research organization of EB will be dismantled and the R&D teams thus released will be moved to chargeable customer solution work.
Within the Wireless Business Segment, as a part of the structural and profitability improvement actions, EB has decided to merge the mobile terminal solutions and radio network solutions businesses into a wireless solutions business. With this change, EB will improve the cost structure, flexibility and resource utilization, and strengthen the capability to penetrate new market domains and customers.
In addition, in order to personally contribute to the cost savings targets of the company, Chairman of the Board J.T. Bergqvist has decided to abandon his right to remuneration for the rest of the current board period.
August 8, 2008
Elektrobit Corporation
Board of Directors
Further information:
Pertti Korhonen
CEO
Tel. +358 40 344 5148
Outi Torniainen
Director, Communications and Marketing
Tel. +358 40 512 1375
DISTRIBUTION:
OMX Nordic Exchange Helsinki
Principal media
EB, Elektrobit Corporation
EB creates advanced technology and turns it into enriching end-user experiences. EB is specialized in demanding embedded software and hardware solutions for automotive and wireless industries. The net sales for the year 2007 totaled MEUR 144.3. Elektrobit Corporation is listed on OMX Nordic Exchange Helsinki.
www.elektrobit.com
