SCANFIL PLC INSIDE INFORMATION 1 JULY 2020 10.55 A.M.
SCANFIL WILL STREAMLINE ITS FACTORY NETWORK AND IS PLANNING TO COMBINE THE PRODUCTION OF ITS HAMBURG FACTORY WITH ITS OTHER FACTORIES IN GERMANY AND POLAND
Scanfil GmbH, part of the Scanfil Group, is planning to scale down and close its Hamburg factory. Hamburg’s production would continue at Wutha-Farnroda factory in Germany and at Sieradz factory in Poland. The company starts a consultation process concerning the entire personnel working at the Hamburg factory.
Hamburg factory employs 120 persons and is producing integrated products mainly for Life Science purposes. The sales development, especially with new customers, has not developed as planned and existing and expected sales level is not sufficient for profitable operations. Also, increased customers’ expectations for operative performance and competitiveness can be better met in Scanfil’s other factories.
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.
If the plan is decided to be implemented, Scanfil will recognize one-time restructuring charges of approximately EUR 6 million as items affecting comparability in its Q3 2020 results. The planned actions would result in annual costs savings of approximately EUR 2.5 million.
The planned actions have no major impact on Scanfil’s present financial outlook for 2020.
The planned actions, if realized, will further strengthen Scanfil’s overall competitiveness and performance.
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 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 11 production units in Europe, Asia and North America. The total number of employees is about 3,500.
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Scanfil will streamline its factory network and is planning to combine the production of its Hamburg factory with its other factories in Germany and Poland - Yahoo Finance
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