Notice of termination at PartnerTech's Vellinge Customer Center due to increased internal efficiency and relocation of production according to plan
PartnerTech has today announced a notice of termination for 13 white collar and 24 blue collar workers at its Vellinge Customer Center. Negotiations have begun with union representatives.
The notice is a result of the investments and the improvement project carried out in 2010, both of which increased internal efficiency. Another reason is that the customer center has relocated production according to plan to our electronics unit in Sieradz, Poland.
PartnerTech reported higher sales in the third and fourth quarters of 2010 than the same periods of 2009.
The company does not believe that the notice of termination will generate any extra non-recurring costs for the group.
For additional information, please call:
Leif Thorwaldsson, President and CEO, +46 (0) 40-10 26 41
Marielle Noble, Communications and Investor Relations Manager, +46 (0) 40-10 26 43
Jonas Arkestad, CFO, +46 (0) 40-10 26 42
About PartnerTech
PartnerTech develops and manufactures products under contract for leading companies, primarily in Defense and Maritime, Industry, Information Technology, MedTech and Instrumentation, CleanTech and Point of Sale Applications. With almost 1,300 employees at its plants in Sweden, Norway, Finland, Poland, the UK, the United States and China, PartnerTech reports annual sales of more than SEK 2 billion. PartnerTech AB (www.partnertech.com), the parent company, has its head office in Vellinge, Sweden, and is listed on the Nasdaq OMX Stockholm Exchange.
PartnerTech AB, corporate identity no. 556251-3308
Disclosures reported to the Swedish Financial Supervisory Authority (Finansinspektionen)