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News 2002 |
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CONSOLIDATION OF ENGINEERING
DIVISION TO FURTHER ENSURE ACHIEVING OPERATIONAL PROFITABILITY
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FOR RELEASE: THURSDAY,
DECEMBER 5TH, 2002
Leuven, Belgium, Cambridge, UK -
Option (Nasdaq Europe: OPIN), the leading supplier in
wireless data communication solutions, announced today
its intention of launching a streamlining program in January
2003 that would affect the activities of the engineering
centre located in Cambridge (UK). Management confirms
that the restructuring and resultant cost savings will
help achieve positive EBITDA in the next quarters.
By pursuing a more focused and immediate market opportunity,
Option will be able to remain the leader in wireless data
communication solutions supported by a sound business
model of both OEM and operators partnerships. In order
to achieve the group's objective of flexible execution
and operational profitability, Option started the appropriate
collective redundancy procedures that could affect the
23 employees of its UK engineering branch. The total annual
cost of this branch amounts to approximately 2 million
Pound Sterling. Sales and support activities in the UK
continue to expand.
Commenting on this plan consolidating the engineering
activities, Frederic Convent, CFO of Option said: "If
after the appropriate announcement and the collective
and individual consultation of the Cambridge staff, our
group decides to continue the collective redundancy plan
as from January till July 2003, our organisation would
be more lean and mean, even more focused on the profitable
execution of our sales opportunities in the various, global
channels. With this optimised business organisation, Option's
engineering departments both in Leuven and in Adelsried
(Germany), who are focused on our GlobeTrotter and our
UMTS/3G activities, are capable of maintaining our proven
excellence in wireless data communication technology to
keep us at the forefront of our industry."
About Option – “Wireless
Technology” – Nasdaq Europe: OPIN
Option is the leading innovator in wireless communications.
The company specialises in the design, development and
manufacture of GSM, GPRS, WLAN, and 3G UMTS technology
products for wireless connectivity solutions. Option has
built up an enviable reputation for creating exciting
new products that enhance the performance and functionality
of wireless communications. More information can be found
at www.option.com.
For financial contacts:
Frederic Convent, CFO
Tel +32 (0)16 317 411
f.convent@option.com
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