Elektrobit plans to close Wireless operations in Espoo

Elektrobit (OMXH: EBC1V) is rationalizing its operations and plans to close its Wireless Business Segment site in Espoo. The operations will be consolidated on the larger units in Oulu, Kajaani and Tampere. Personnel negotiations concerning 25 employees have been started. Elektrobit plans to offer each worker a position on another company site in Finland. The closure would result in some cost savings. The stocks near 100% run this year has been put on halt within the last few weeks.