May 29, 2003 The personnel negotiations regarding possible closing of the Aspocomp Oy Padasjoki printed wiring board factory have ended. As a consequence of the negotiations the operations of the factory will be notably downsized. A part of the personnel may be possible to relocate to the other Group factories, about 30 persons continue to run the Padasjoki operations and about 40 persons will be redundant.
The fixed assets of the factory were about EUR 6.5 million at the end of the first quarter 2003. One-time cost related to the downsizing will be defined later. The personnel costs related to the redundancy are estimated to be about EUR 0.5 million.
For more information, please contact CEO Jarmo Niemi
at +358 9 7597 0711.
ASPOCOMP GROUP Oyj
Jarmo Niemi
President and CEO
DISTRIBUTION:
Helsinki Exchanges
Press and Media
www.aspocomp.com
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