Restructuring events
European Restructuring Monitor (ERM)
The restructuring events database contains factsheets with data on large-scale restructuring events reported in the principal national media and company websites in each EU Member State. This database was created in 2002.
The electronics company Aspocomp is planning to start personnel negotiations in Finland. The Group's Finnish operations have made notable losses since 2005. Despite various measures taken to rectify the situation, the production of high density interconnection (HDI) PCBs for handsets in the Salo plant has remained unprofitable. The aim of the negotiations is to find the best ways to improve the company's profitability, which may include a possible closing of the Salo plant. The target is to reach annual savings in excess of 10 million Euro. The negotiations concern about 350 employees at Aspocomp Group Oyj and Aspocomp Oy, excluding the personnel in the Oulu production unit. The total number of personnel in Finland is 543. Possible personnel cuts would be implemented during 2007 and affect a maximum of about 320 people. If the negotiations lead to the closing of the Salo plant, it is estimated that the related non-recurring costs, including the write-offs, may amount to about 20 million Euro. The negotiations and possible closing of the plant are not expected to affect customer deliveries. 'In order to succeed in the present fast-paced, extremely competitive printed circuit board market, it is vital to look into our cost structure and perfect the operational efficiency. Aspocomp's volume production has been mainly transferred to Asia, where we can serve the global customers cost-effectively in the fastest growing market', says CEO Maija-Liisa Friman.
Eurofound (2007), Aspocomp, Offshoring/Delocalisation in Finland, factsheet number 65318, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/65318.