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Adapteo intends to concentrate inhouse production to Anneberg

Regulatory information

Adapteo Plc Regulatory Press Release 27 April at 10:00 am CEST 

 

Adapteo intends to concentrate its inhouse production of adaptable buildings to the Group's production facility in Anneberg, Sweden. The planned change will mean that all employees at the factory in Gråbo will be given notice of termination, and the production intends to close down during the second half of 2020.

"We have the opportunity to concentrate our production to one production facility in Anneberg, where we have a modern facility and where we have increased our efficiency through operational excellence activities. It is also in Anneberg our technical department, and several other key functions are present. By concentrating our production, we achieve several synergies that will lead to higher efficiency and increased capacity utilisation, as well as reduced maintenance and investment needs", says Philip Isell Lind af Hageby, President and CEO of Adapteo Group.

The planned change means that all personnel at the production facility in Gråbo, around 45 employees, will be affected and the production aims to be discontinued during the second half of 2020. Negotiations with trade unions and employee representatives will begin immediately. 

Adapteo manufactures about 20 per cent of the annual volumes of adaptable buildings within the Business Area Rental Space inhouse, while external partners in Northern Europe produce about 80 per cent of the volumes.

The total cost of the close down is estimated not to exceed EUR 1.0 million, reported as items affecting comparability, of which almost half will affect cash flow. 

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For additional information, please contact

Philip Isell Lind af Hageby, President and CEO, +46 73 022 19 36, philip.isell@adapteo.com
Niklas Alm, SVP Investor Relations, +46 708 24 40 88, niklas.alm@adapteo.com

Adapteo in brief

Adapteo is a leading Northern European provider of modular space solutions. We operate in Sweden, Finland, Norway, Denmark and Germany. Adapteo is a new brand with over 30 years of experience, born from the acquisition of Nordic Modular Group and the demerger from Cramo. We offer premium modular space solutions to schools, daycare centers, offices, accommodation and events for temporary and permanent needs. In 2019, Adapteo’s net sales were EUR 216 million. 

A changing society needs adaptable space. At Adapteo, we make sure everyone has the right kind of space, so that people can grow, and societies can move ahead. We create flexible modular spaces that are good for the planet and great for the future. Adapteo is listed on Nasdaq Stockholm.

www.adapteogroup.com

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