HANZA continues to develop clusters – merger of factories in Estonia

HANZA merges two production units in Estonia as a further step in the company’s strategy to create modern and efficient manufacturing clusters

In 2015, HANZA Holding AB (publ) acquired the mechanics manufacturer Metalliset. Through the acquisition, a production unit in Aruküla, Estonia, was obtained. HANZA has now decided to transfer and merge this unit with the Group's other operations in Tartu, Estonia, whereby the Group creates a major manufacturing cluster with approximately 450 employees. Through this, HANZA can undertake even larger and more complex projects, while continuing to guarantee top class quality and delivery accuracy.

"The global economy with fluctuating volumes lead to high demands on the manufacturing sector”, says Erik Stenfors, CEO HANZA. "By developing our industrial park in Tartu we strengthen HANZA's competitive position. Our clusters create significant customer value, and thus contribute to a continued profitable growth of HANZA. "

The decision affects 80 employees in Aruküla and is expected to result in limited one-time costs, which essentially will be charged during the first half of 2016. The merger is expected to have a positive effect on the HANZA Group’s earnings as of the third quarter of 2016.

For more information please contact: 
Erik Stenfors, CEO HANZA Holding, Phone: 46 8 624 62 00, email: erik.stenfors@hanza.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 10.30 am (CET), February 4, 2016. Erik Penser Bankaktiebolag is the company's certified adviser. 

Important information
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.