Revenio Group Oyj: Business description, financial summary, 3yr and interim financials, key statistics/ratios and historical ratio analysis.
Provider: Reuters Investment Profile
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Revenio Group Oyj to Divest Done Logistics Oy; Done Logistics to Lay Off
Revenio Group Oyj announced that it has decided to divest Done Logistics Oy, which offers systems for internal logistics. Net sales for the business in question amounted to EUR 2.9 million during the first three quarters of 2012, and its operating profit to negative EUR 2.5 million. Continuing poor profitability and a difficult market outlook are the reasons for the divestment. The company will begin a controlled rundown of operations, including personnel redundancies, whilst simultaneously seeking a successor to take over the business, or parts thereof, either from among the company's personnel or from outside the organization. If a successor is not found, the shutdown is scheduled for completion by fall 2013. Current order book commitments will be fulfilled in full. In accordance with the decision, Done Logistics' operations will be classified as 'discontinued operations' in Revenio's Group reporting.
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