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PartnerTech to Restructure Operations in Norway
November 18, 2015 | Globe NewswireEstimated reading time: Less than a minute
PartnerTech AB's Norwegian subsidiary, PartnerTech AS, has announced plans to restructure the company's operations. PartnerTech AS also will initiate a communication and negotiation process with the representatives of the personnel groups, in accordance with Norwegian legislation. The option of discontinuing production at the factory will also be discussed in the negotiations. The restructuring negotiations concern all personnel in PartnerTech AS.
The negative impact on earnings resulting from a possible factory closing is estimated at approximately €5 million to €7.5 million. The respective cash impact is estimated at approximately €3 million to €5.5 million.
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