Tecnomen Corporation STOCK EXCHANGE ANNOUNCEMENT
25 August 2003 at 13.00 p.m.
TECNOMEN CONTINUES ACTION TO RAISE EFFICIENCY AND STARTS EMPLOYEE
Over the past two years Tecnomen has streamlined its operations in
response to the weakened state of the market. However, Tecnomens
operational environment has not shown adequate signs of recovery, so
the company is forced to continue its measures to improve operational
efficiency, which will result in personnel reductions.
Tecnomen has drawn up a detailed plan of action affecting the entire
group, aiming to improve the companys profitability and develop its
chosen core business areas.
As part of this plan of action, Tecnomen is starting employee
negotiations. Productivity and financial grounds will be the basis for
making the personnel reductions. The employee negotiations will affect
the entire personnel. It is estimated that the measures to be taken
will result in a reduction of some 80 people in different offices
The planned action aims at annual savings of approximately EUR 5-6
President and CEO
Ilpo Uotila, President and CEO, tel. +358 (0)9 804 781
Froste Ahlfors, Vice President, Personnel & Administration,
tel. +358 (0)9 804 781
Tecnomen develops value-added service systems for teleoperators and
service providers. The company is one of the world's leading suppliers
of messaging systems. Tecnomen has a strong market position in prepaid
systems and intelligent network components, and is the market leader
in paging systems. Tecnomen markets its products and services through
its own worldwide organisation, as well as through global and local
partners. The company operates in 10 locations worldwide and has
supplied its products to customers in over 40 countries. Tecnomen has
almost 500 employees and its shares are quoted on the Helsinki
Exchanges. This year Tecnomen celebrates its 25th anniversary. For
more information on Tecnomen visit www.tecnomen.com.
Tecnotree is a global provider of IT solutions for the management of services, products, customers and revenue for Communications Service Providers. Tecnotree helps customers to monetise and transform their business towards a marketplace of digital services. Together with its customers, Tecnotree empowers people to self-serve, engage and take control of their own digital life.
Tecnotree is listed on Nasdaq Helsinki (TEM1V). For more information, please visit www.tecnotree.com.