SOLNA, Sweden, May 8, 2003 (PRIMEZONE) -- LGP Allgon, the telecom business within LGP Telecom Holding AB, closes its production unit in Alem, Monsteras, Sweden. The operation will be transferred to the group's production plants in Stockholm, Sweden.
The transfer results in staff reduction of aproximately 20 people. This is a step in the work to make the group's production more effective and to consolidate the production resources, which is an ongoing project since the merger between LGP and Allgon.
Merger between LGP and Allgon
On January 21, 2003 LGP announced a bid for Allgon. More than 90 percent of the shareholders in Allgon accepted the bid. The merged LGP Allgon forms a major Nordic player in the field of infrastructure for mobile communication.
The integration means, among other things, cost savings of approximately MSEK 75. The group's headquarters will be transferred to Allgon's premises in Taby, Sweden, in mid June.
For further information, please contact: Johan Ek, VP Operations Tel: +46 (0)705-15 94 77 E-mail: johan.ek@lgp.se Bengt Broman, CEO Tel: +46 (0)705-70 10 30 E-mail: bengt.broman@lgp.se Internet: www.lgp.com
The LGP Group consists of two business areas: Telecom and Contract Manufacturing. Business area Telecom, which consists of LGP's telecom operations and Allgon, develops, manufactures and markets telecom products that improve radio coverage, capacity and data transmission speed in mobile communications networks all over the world. The product line includes antenna systems, coverage solutions, base stations systems and radio link systems.
In business area Contract Manufacturing, the LGP Group is, in its niche, a leading contract manufacturer of advanced industrial components.
The Group has about 1,500 employees in 13 countries and annual sales of about 2.5 billion kronor. LGP is listed on the Attract40 list of the Stockholm Stock Exchange.
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