Semcon closing down unprofitable parts.

Semcon closing down unprofitable parts. Competence Development business area to be reorganized. Full year's results affected. The Board of Semcon AB (publ.) has decided that negotiations should start with the appropriate unions about closing down the unprofitable parts of Competence Development. Semcon intends to start closing these down during the current year. The business area accounts for 8 % of total turnover. The background is that the market for publicly financed training schemes has dramatically declined. The requirements for running a long-term profitable activity are therefore missing. Semcon will do everything possible to try and transfer the affected employees to other business areas. Employees who leave the company will be offered individual guidance. Semcon will complete all its undertakings with its customers. The successful part of Competence Development that concentrates on industry will continue to be run in Semcon's other business areas. It is estimated that the closing down, including the losses announced already, will see SEK 42 million charged to the full year's results. Semcon's nine-months report will be published on the 24 October. For further information please contact: CEO Hans Johansson, tel: +46 (0)31-721 03 05, mobile: +46 (0)705-91 43 34 CFO Bengt Nilsson, tel: +46 (0)31-721 03 11, mobile: +46 (0)704-47 28 68 ------------------------------------------------------------ This information was brought to you by BIT http://www.bit.se The following files are available for download: http://www.bit.se/bitonline/2000/10/19/20001019BIT00880/bit0001.doc http://www.bit.se/bitonline/2000/10/19/20001019BIT00880/bit0002.pdf

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Semcon is an international technology company that develops products based on human needs and behaviours. We strengthen our customers’ competitiveness by always starting from the end user, because the person who knows most about the user’s needs creates the best products and the clearest benefits to humans. Semcon collaborates mainly with companies in the automotive, industry, energy and life science sectors. With more than 2100 specialised employees, Semcon has the ability to take care of the entire product development cycle, from strategy and technology development to design and product information. Semcon was founded in Sweden in 1980 and has offices in over 30 locations in eight different countries. In 2018, the Group reported annual sales of SEK 1.8 billion. Read more on semcon.com

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