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Written by Chelsey Drysdale
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Friday, 22 June 2012 11:01 |
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SALO, FINLAND – Cencorp plans to shut down its subsidiaries in Hungary, Sweden and the UK by the end of 2012.
Total personnel will be 183 after the closures, compared to 310 prior.
Cencorp said it expects full-year net sales of its continuing operations to decrease compared to last year’s sales of EUR 21.6 million.
Full-year EBITDA is estimated to be positive compared to last year’s EUR 1.7 million, barring unforeseen changes to operations and the economy.
The firm has also decreased staff in Finland by 14. The firm plans to outsource its in-house equipment production, including supportive functions.
In North America, the company has let go of three staff members.
Cencorp provides laser and industrial automation solutions.
Ed: 1 EUR = $1.25
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