Nokia to sell Salo property to drugmaker Orion

HELSINKI Thu Oct 25, 2012 6:38am EDT

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HELSINKI (Reuters) - Finnish mobile phone maker Nokia is to sell part of a manufacturing plant it is closing in Salo, southwest Finland, to drugmaker Orion.

The property includes production facilities and warehouses, the companies said on Thursday. Nokia said in June it was ending production in Salo, cutting 850 jobs.

Nokia is seeking to bolster its cash position as it launches smartphones aimed at recapturing market share lost to Apple and Samsung.

The plant, the hub of Nokia's success story in 1990s, was the last major cellphone factory in western Europe.

Orion plans to open a new packing and logistics center in Salo next year and could employ around 100 people.

(Reporting by Terhi Kinnunen and Tarmo Virki; Editing by Dan Lalor)

(This story was refiled to correct the spelling of Finnish in the first paragraph)

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