SEM has given notice to 14 employees due to significant reductions in larger customers’ ordering prognoses for end of the year 2019 and the entire year 2020

SEM AB (”SEM”) has today and after having informed concerned unions given notice concerning 14 collective bargaining agreement employees of the workforce at SEM’s manufacturing unit in Åmål, at which location SEM’s head office is also located. SEM has initiated negotiations with the union IF Metall regarding the notice. The reason for the notice is redundancy due to that SEM’s larger customers within the segment commercial vehicles have significantly reduced their ordering prognoses to SEM for end of the year 2019 and the entire year 2020.
Despite the notice, SEM is actively seeking new white-collar employees since SEM’s customer project business is larger than it has ever been. Focus for this work is the development of future product platforms and this development work continues with an unreduced strength.

For more information, please contact:

Tom Gustavsson, CEO
Tel: +46 532 611 05

About this information
This information is inside information that Swedish Electromagnet Invest AB (publ) is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out above, at 11.25 pm CET on November 14, 2019.