Opcon: Gives notice of termination to 12 people within Swedish Bioenergy business
After large losses within Bioenergy, and as part of the ongoing work with the strategic and organisational review within the energy and environmental technology Group Opcon, a total of 12 people are being given notice. The action concerns the Group’s Swedish Bioenergy business and activities in both Nacka and Hagfors, Sweden.
“We have for a time been struggling with decreasing order volume in Sweden and with a difficult market situation that has led to large losses and redundancies. Because of this and as part of the new strategy we are working on we now give notice to a total of 12 people within the Swedish bioenergy business. Our activities in the UK and Germany, where the market is significantly better, are unaffected by these measures”, says Rolf Hasselström, CEO of Opcon AB.
The final cost for the layoffs cannot be determined until final negotiations has taken place but are expected to amount to close to 10 m SEK, which will reserved in the final accounts for 2015.
The organization and administrative structure is also being reviewed, with the backdrop that the organization of the parent company after the sale of the operations within the Compressor Technology and Waste Heat Recovery is now oversized, making further cost reductions necessary. Opcon expects the review to lead to further measures with accompanying costs. The Company also sees a risk that the review may lead, depending on the strategic choices made, to additional costs and change in value.
Within the bioenergy sector, Opcon offers everything from the design of complete combined heat and power (CHP) plants to handling systems and incineration plants under the Saxlund brand. Under the SRE brand, systems are supplied for treatment and improved energy efficiency for bioenergy-powered district heating plants, sawmills, pellets producers and commercial greenhouses. The offer also includes flue gas condensation equipment for industrial activities.
For further information, please contact
Niklas Johansson, vice president, Investor Relations, Opcon AB, tel. +46 8-466 45 00,+46-70-592 54 53
Opcon AB, Box 15085, 104 65 Stockholm, Sweden
Tel. +46 8-466 45 00, fax+46 8-716 76 61
e-mail: info@Opcon.se
The Opcon Group
Opcon is an energy and environmental technology Group that develops, produces and markets systems and products for eco-friendly, efficient and resource-effective use of energy focusing on Bioenergy.
Opcon has activities in Sweden, Germany and the UK. There are around 100 employees. The company’s shares are listed on Nasdaq OMX Stockholm.
Opcon AB (publ) is obliged to disclose the information in this press release in accordance with the Swedish law governing the securities markets and/or trading in financial instruments.
The information was submitted for publication at 14.40 (CET) on Monday January 25 2016.
Tags: