Brief: Thinfilm Announces Corporate Restructuring

Ensurge Micropower ASA

15/03/2019 16:16

March 15 (Reuters) - Thin Film Electronics ASA  THIN.OL :
    * REG-THINFILM ANNOUNCES CORPORATE RESTRUCTURING
    * PAUSED DEVELOPMENT OF PRINTED DOPANT POLYSILICON (PDPS)
TECHNOLOGY
    * REALIGNED ITS SALES ORGANIZATION AND ITS GO-TO-MARKET
STRATEGY
    * THIN FILM ELECTRONICS - CO WILL DISCONTINUE CURRENT
ELECTRONIC
ARTICLE SURVEILLANCE (EAS) BUSINESS
    * THIN FILM ELECTRONICS - DISCUSSIONS WITH A POTENTIAL
STRATEGIC
EQUITY PARTNER ARE NOT EXPECTED TO RESULT IN INVESTMENT AT THIS
TIME
    * THIN FILM ELECTRONICS -  CONTINUES TO ENGAGE IN MULTIPLE
DISCUSSIONS WITH STRATEGIC GO-TO-MARKET PARTNERS
    * THIN FILM ELECTRONICS - NEW MANAGEMENT TEAM IS CONFIDENT
IN THE
POSITIVE LONG-TERM OUTLOOK AS COMMUNICATED TO SHAREHOLDERS IN
THE Q4 2018 REPORT
    * THIN FILM ELECTRONICS -  ACTIONS TO RESULT IN AN
APPROXIMATE 40
PERCENT REDUCTION IN THE WORK FORCE
    * THIN FILM ELECTRONICS - ACTION TO YIELD NEARLY $20 MILLION
IN
ANNUALIZED SAVINGS AT THE OPERATING LEVEL

Source text for Eikon:  ID:nGNEbbKZRR 
Further company coverage:  THIN.OL 

 ((Reuters.Briefs@thomsonreuters.com;))