Celsius - new Group structure

Celsius - new Group structure The recent structural deals completed with TietoEnator and HDW mean that the current structure of the Group must be changed. Celsius' management has therefore decided to introduce a new Group structure with effect from January 1, 2000. This change complies fully with the Group's declared strategy of development into a knowledge-driven company focused on advanced products and services. The greater part of Group operations are organized into three business areas: Defence, Aerotech Services (Celsius 57%, TietoEnator 43%) and Aviation Services. Each one of these business areas is led by a business area manager, who reports directly to the CEO. The heads of the wholly-owned business areas will be members of the Group executive. As earlier, business unit Business Development will be operated parallel to these business areas. The Group will also comprise businesses in which Celsius holds a significant joint interest, as well as business unit Niche Companies. The new Group structure will involve significant downsizing of the central organization. The new Group structure is expected to yield annual savings in the region of SEK 70 M. For further information, please contact Anders Florenius, Vice President/Group Communications, on + 46 (0)8 - 463 00 53 or + 46 (0)70 - 582 32 30 (mobile). Celsius is an international advanced-technology and knowledge-based corporation which, in close interaction with its customers develops, manufactures and maintains advanced systems, products and services within three core areas: Defence, with a focus on electronics, IT and smart weapon systems; Aerotech Services, which comprises advanced services, consultancy and maintenance, primarily for defence-sector customers, and Aviation Services, which is focused on engine, component maintenance and asset management services for the commercial market. This comprehensive competence provides a platform for the development of new products and services with strong growth potential in both defence-related and commercial markets. Celsius has sales in excess of SEK 12 billion and some 9,500 employees. ------------------------------------------------------------ Please visit http://www.bit.se for further information The following files are available for download: http://www.bit.se/bitonline/1999/10/12/19991012BIT00070/bit0001.doc http://www.bit.se/bitonline/1999/10/12/19991012BIT00070/bit0002.pdf