Inside information: Aspocomp’s change negotiations at its Oulu plant have ended

Aspocomp Group Plc, Inside Information, August 30, 2023, at 8:45 a.m.

Aspocomp’s change negotiations at its Oulu plant have ended. The goal of the negotiations was to prepare for a partial adjustment of production to correspond to temporarily low delivery volumes. As a result of the change negotiations, the company’s plan is to lay off 20-30 production blue-collar employees at a time for a maximum of 90 days during the next six months. For the first three months, 26 people will be temporarily laid off. At the start of the negotiations, the company estimated that the adaptation measures would lead to layoffs for a maximum of 90 days, and most of the Oulu plant’s approximately 120 production blue-collar employees were covered by the negotiations. Slower-than-expected recovery of the semiconductor cycle and high inventory levels in various parts of the value chain has slowed down net sales. A temporary slowdown in the semiconductor cycle is typical for the industry. The industry's long-term growth prospects are still strong. The cycle of the semiconductor industry is expected to return to growth at the end of the year or the beginning of 2024. For further information, please contact Mikko Montonen, President and CEO, tel. +358 40 5011 262, mikko.montonen(at)aspocomp.com. ASPOCOMP GROUP PLC Mikko Montonen President and CEO Aspocomp – heart of your technology A printed circuit board (PCB) is used for electrical interconnection and as a component assembly platform in electronic devices. Aspocomp provides PCB technology design, testing and logistics services over the entire lifecycle of a product. The company’s own production and extensive international partner network guarantee cost-effectiveness and reliable deliveries. Aspocomp’s customers are companies that design and manufacture telecommunication systems and equipment, automotive and industrial electronics, and systems for testing semiconductor components for security technology. The company has customers around the world and most of its net sales are generated by exports. Aspocomp is headquartered in Espoo and its plant is in Oulu, one of Finland’s major technology hubs. www.aspocomp.com

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