SCANFIL PLC STOCK EXCHANGE RELEASE 17 DECEMBER 2020 9:15 PM
SCANFIL STREAMLINES ITS FACTORY NETWORK AND REORGANIZES ITS PRODUCTION IN CENTRAL EUROPE
Scanfil announced on 1 July 2020 that Scanfil GmbH, part of the Scanfil Group, is planning to scale down and close its Hamburg factory. The company started a consultation process concerning the entire personnel working at the Hamburg factory. The consultation process has now ended and Scanfil GmbH has decided to close down the Hamburg factory. The production will continue at the Wutha-Farnroda factory in Germany and the Sieradz factory in Poland.
The arrangement will result in non-recurring restructuring charges of approximately EUR 6 million, which will be recognized in the fourth quarter of 2020. The planned action would result in annual cost savings of approximately EUR 2.5 million. The measures are scheduled to be completed by the end of the third quarter of 2021.
The arrangement has no impact on Scanfil’s present financial outlook for 2020.
Scanfil’s Wutha-Farnroda factory is well-positioned as a “high mix – low volume” manufacturing unit with strong engineering capability and is located close to customers in Germany and Central Europe. Scanfil’s Sieradz factory is a large scale electronics factory located in the Central part of Poland and is positioned as an effective manufacturing unit, especially for higher volume products.
SCANFIL PLC
Petteri Jokitalo
CEO
Additional information:
CEO Petteri Jokitalo
Tel +358 8 4882 111
Distribution Nasdaq Helsinki Ltd
Major Media
www.scanfil.com
Scanfil is an international contract manufacturer and system supplier for the electronics industry with over 40 years of experience in demanding contract manufacturing. Scanfil provides its customers with an extensive array of services, ranging from product design to product manufacturing, material procurement and logistics solutions. Vertically integrated production and a comprehensive supply chain are the foundation of Scanfil’s competitive advantages: speed, flexibility and reliability.
Typical Scanfil products include mobile and communications network devices, automation system modules, frequency converters, lift control systems, analysers, various slot and vending machines, and devices related to medical technology and meteorology. Scanfil services are used by numerous international automation, energy, IT and health service providers, as well as companies operating in the field of urbanisation. Scanfil’s network of factories consists of production units in Europe, Asia