Brief: Bioservo Outsources Production To Partners, Implements Cost Savings

Bioservo Technologies AB

30/11/2022 10:34

Nov 30 (Reuters) - Bioservo Technologies AB  BIOSE.ST :
    * BIOSERVO OUTSOURCES ALL PRODUCTION TO PARTNER COMPANIES
AND
IMPLEMENTS COST SAVINGS
    * IN NEW PHASE COMPANY IS NOW ENTERING, ALL PRODUCTION OF
COMPANY'S PRODUCTS WILL BE HANDLED BY EXTERNAL PARTNERS
    * THIS ALLOWS CO TO STREAMLINE ORGANIZATION TO FOCUS ON
DEVELOPING, MAINTAINING EFFECTIVE PARTNER COLLABORATIONS FOR
MANUFACTURING, SALES
    * IMPLEMENTS COST SAVINGS BY REDUCING ORGANIZATION BY ABOUT
25%,
MAINLY PRODUCTION PERSONNEL, BY REDUCING USE OF EXTERNAL
CONSULTANTS
    * EFFECT OF COST SAVINGS IS EXPECTED TO BEGIN TO HAVE EFFECT
IN Q2
OF 2023, IS ESTIMATED TO AMOUNT TO ABOUT SEK 7 MILLION ON
ANNUALLY

Source text for Eikon:  ID:nWkr8fCl4k 
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