Distribution of company announcements to the professional platforms, finance portals and syndication of important corporate news to a wide variety of news aggregators and financial news systems.
Elcoteq SE (HEL:ELQ1V) Elcoteq SE Stock Exchange Release October 15, 2008 at 10.30 am (EET)
Elcoteq has today invited personnel representatives of the Salo unit in Finland for personnel negotiations. The negotiations will address the possible closure or restructuring of a part of the operations of this unit, as well as the possible consequent temporary layoffs, the changing of employment relationships to part-time contracts or the termination of employment contracts on production or financial grounds. The possible narrowing down of the Salo unit is connected to the changes in the product portfolio of Elcoteq's Personal Communications Business Area.
The negotiations apply to those employees of the Salo unit who belong to the Personal Communications Business Area. Personnel of the PDS (Product Development Services) is not affected. The company estimates that the possible actions would affect at most approximately 40 people.
Elcoteq has currently roughly 21,400 employees worldwide, approximately 240 of whom work in Finland.
ELCOTEQ SE
Minna Aila Director, Investor Relations and Corporate Responsibility
Further information:
Markus Kivimäki, SVP, Legal Affairs, tel. +358 10 413 1248 Minna Aila, Director, Investor Relations and Corporate Responsibility, tel. +358 10 413 1908
About Elcoteq Elcoteq SE is a leading electronics manufacturing services (EMS) company in the communications technology field. Elcoteq's global service offering covers the entire lifecycle of products, from product development to after market services. By further combining mechanics expertise into its service offering, Elcoteq's vision is to be a leading integrated electronics manufacturing services (IEMS) company. Elcoteq provides global end-to-end solutions consisting of product development services, supply chain management, NPI, manufacturing, and after market services for the whole lifecycle of its customers' products. These products include Personal Communications products such as mobile phones and their parts, Home Communications products such as set-top boxes and electronics for flat panel TVs as well as Communications Networks products such as base-stations, tower-top amplifiers, and microwave systems.
Elcoteq operates in 15 countries on four continents and employs some 24,000 people. The Group's consolidated net sales for 2007 totaled 4.0 billion euros. Elcoteq SE is listed on the Nasdaq OMX Helsinki Ltd. For more information visit the Elcoteq website at www.elcoteq.com.
This announcement was originally distributed by Hugin. The issuer is solely responsible for the content of this announcement.
