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TRANSFER OF PART OF ITS PRODUCTION FROM DANISH FACILITY LOCATED IN HADSTEN TO KAUNAS, LITHUANIA
23 December 2005 - Carlo Gavazzi
| In order to further improve the competitiveness and the operating margin of its Automation Components Business Unit, Carlo Gavazzi, the Zug based electronics group is transferring part of its production from the Danish facility located in Hadsten to Kaunas, Lithuania. |
In order to further improve the competitiveness and the operating margin of its Automation Components Business Unit, Carlo Gavazzi, the Zug based electronics group is transferring part of its production from the Danish facility located in Hadsten to Kaunas, Lithuania. The new sensor plant in Lithuania, which started production in December 2003, will increase employment to 60 during the year. After the corresponding reduction of the workforce in Hadsten, 150 people in R&D and production will continue to be employed at the Danish location. In the previous financial year, Automation Components, one of Carlo Gavazzi's core businesses, achieved an operating revenue of CHF 140 million. Management also confirms that it is confident of reaching the group's earnings targets for the current financial year ending March 31, 2004 as communicated in the interim report issued in November 2003.
http://www.carlogavazzi.com
About: Carlo Gavazzi
Carlo Gavazzi is a diversified, internationally active electronics group designing, manufacturing and marketing electronic equipment targeted at the global markets of industrial automation and information processing.Under the umbrella of a holding company, headquartered in Switzerland, Carlo Gavazzi is organised in two business units. It is the function of the holding company to ensure planning and development of the group's business portfolio, to choose a coherent set of strategies and objectives, to monitor their implementation and the efficiency of the corresponding management tools and processes, to select the upper-level management, to manage corporate finance, controlling, tax planning, management information systems, communication and investor relations. The business units operate separately within the framework of defined strategies and objectives; they are responsible for research and development, manufacturing, quality, marketing and sales, human resources, logistics, finance and control. Group executives lead their business units in line with the holding's objectives as businessmen with strong entrepreneurial drive and responsibility. Objectives. To provide our customers with technologically innovative, high quality and competitive solutions, in compliance with their requirements and expectations. To create an environment conducive to our employees' professional and personal development. To obtain a fair and equitable return for our shareholders through sustained development of our core activities. Principles. To create added value for our customers with our products and services in order to strengthen their market positions and establishing long-term partnerships. To adapt structures and processes to market needs and delegate responsibility. To promote an environment conducive to mutual respect and cooperation. To mark clear leadership and integrity by doing what we say. |
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