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Hanza

Hanza

Hanza Holding AB: HANZA divests part of its operations in Åtvidaberg to the former management

12:32 / 18 June 2020 Hanza Press release

HANZA Holding AB (publ) has, as previously announced, given notice of termination to all employees in Åtvidaberg, as HANZA consolidates its electronics production in Sweden to Årjäng. Today, however, an agreement has been signed that means some business will remain in Åtvidaberg, in a new company owned by the former management.

In April this year, HANZA took a number of measures to meet the uncertain demand in certain customer segments, caused by the covid-19 pandemic. Among other things, all the company's staff in Åtvidaberg, approx. 30 people, were given notice of termination in order to consolidate the Swedish electronics production to HANZA's production plant in Årjäng.

In dialogue with HANZA, the management of Åtvidaberg has now started a new company that has signed an agreement with HANZA to acquire parts of the assets and employ some of the staff. Furthermore, a number of customers have been offered continued manufacturing in the new company in Åtvidaberg.

"We are very pleased to have worked out a plan together with the management and some customers," says Erik Stenfors, CEO, HANZA. "This means that certain activities will remain in Åtvidaberg, in a way that is good for all parties."

"HANZA has a good corporate culture which is also reflected in the discussion following the decision to consolidate electronics production to Årjäng," said Anders Larsson, former production manager at HANZA Åtvidaberg and now co-founder of the new company in Åtvidaberg. "Our new company will be a good partner for smaller series of PCB manufacturing, without competing with HANZA's business model".

The current operations in Åtvidaberg are estimated to be completely divided between HANZA in Årjäng and the new company in Åtvidaberg by October 1, 2020. The previously announced costs for HANZA's action program are not significantly affected by this agreement.

About HANZA:

HANZA is a knowledge-based global manufacturer that modernizes and streamlines the manufacturing industry. Through supply-chain advisory services and our own factories grouped into regional manufacturing clusters, we offer secure deliveries, increased profitability and sustainable manufacturing solutions for our customers.
HANZA was founded in 2008 and in 2019 had sales exceeding SEK 2 billion. The company has production units in seven countries; Sweden, Finland, Germany, Estonia, Poland, the Czech Republic and China. Among our clients are leading product companies such as ABB, Epiroc, GE, Getinge, Oerlikon, Saab and Siemens.

HANZA is listed on Nasdaq Stockholm's main list (ticker: HANZA).

For more information please go to: www.hanza.com

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