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Provider: Reuters Investment Profile

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Vaisala Oyj Reorganizes Operations in Vancouver and Lays off Employees

Wednesday, 3 Oct 2012 12:30pm EDT 

Vaisala Oyj (Vaisala) announced that in order to finalize the integration of the acquired Life Science business to Vaisala and to increase scalability, efficiency and flexibility of global operations, the Company is moving the board assembly, final assembly, testing, new product calibration and the related activities from Canada to Malaysia and Finland. As a result of the change, the work of 10 persons in Vancouver will end by June 30, 2013. One-off charges of approximately EUR 400,000 relating to the restructuring activities are expected to be booked by the end of 2012. The estimated annual cost reduction is EUR 500,000 (half a million Euros) which will be fully realized from 2014 onwards and about half during 2013. 

Company Quote

-0.19 -0.91%
15 Sep 2014