HANZA initiates consolidation of production sites
HANZA Holding AB (publ) announces a developed strategy to increase the companys profitability during an unpredictable economic climate. Hanza initiates trade union negotiations to move the company’s manufacturing site in Töreboda to other HANZA sites.
In view of the prolonged recession in the industry and continued uncertainty about the long-term economic situation has HANZA decided on a developed strategy. The purpose is to affect the profitability positively through consolidation of production sites and targeted, strategic acquisitions.
"As previously announced, 2014 meant both disappointments and gratifying," comments Erik Stenfors, CEO HANZA. "The orders by the largest customers were significantly below their forecasts, which has had an adverse impact on profitability. At the same time, HANZA implemented an IPO, acquired KA Electronics and launched the new business consulting service MIG. Another positive aspect, new customers and contracts has been obtained."
For more information please contact:
Erik Stenfors, CEO HANZA: Phone: +46 70 950 80 70, email: email@example.com
The information in this press release is such that HANZA must disclose it in accordance with the Securities Markets Act and/or the Financial Instruments Trading Act. The information was submitted for publication at 07.55 am (CET), June 24, 2014. Avanza Bank AB is the company's certified adviser.
This press release may contain certain forward-looking statements that reflect HANZA’s current views of future events and financial and operational performance. Words such as "intends", "anticipates", "expects", "may", "plan ", "anticipate" or similar expressions regarding indications or predictions of future developments or trends, and are not based on historical facts, constitute forward-looking information. Forward-looking information is inherently associated with both known and unknown risks and uncertainties because it is dependent on future events and circumstances. Forward-looking statements are not guarantees regarding future results or developments and actual results may differ materially from those set forth in forward-looking information.
HANZA is a fast growing industrial business partner within manufacturing. The company lowers customer costs by supplying complete manufacturing solutions in mechanics, electronics, cables and final assembly. HANZA was founded in 2008 and has grown into a SEK billion company. The Company currently operates in Sweden, Finland, Estonia, Poland, Slovakia and China. Among HANZA's clients there are leading industrial companies such as Atlas Copco, Ericsson, ABB and Saab Defense. www.hanza.com