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Nokia plans to divest Salcomp Oy
August 06, 1999
As Nokia will continue to focus on its core telecommunications and Internet technologies, the company today announced plans to divest its subsidiary Salcomp Oy. Nokia has opened discussions with several candidates, with the aim that the new owner will continue Salcomp's operations on the current base. The negotiations are expected to be finalized by the end of this year.
Salcomp is one of the world's largest manufacturers of mobile phone battery chargers. Following the change of ownership, Salcomp will have good opportunities to further develop its partnership with telecommunications companies. In Finland, Salcomp has approximately 600 employees in Kemijärvi and Salo. Sales offices are located in Hong Kong, China, and in Irving, Texas, and company contract manufacturing in China. In 1998, Salcomp's net sales totaled FIM 832 million.
Nokia is paving the way to the mobile information society with its innovative products and solutions. Nokia is the leading mobile phone supplier and a leading supplier of mobile, fixed and IP networks including related services. It also supplies multimedia terminals and computer displays. In 1998, net sales totaled EUR 13.3 billion (USD 15.7 billion). Headquartered in Finland, Nokia is listed on the New York (NOK), Helsinki, Stockholm, London, Frankfurt and Paris stock exchanges and employs more than 51 000 people.
Contact information:
Director Liisa Nyyssönen
Nokia Corporate Communications
Tel. +358 9 1807 493
Fax +358 9 652 409
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