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Last €3.97 EUR
Change Today +0.04 / 1.02%
Volume 34.3K
HKSAV On Other Exchanges
As of 11:29 AM 10/2/15 All times are local (Market data is delayed by at least 15 minutes).

hkscan oyj-a shs (HKSAV) Snapshot

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hkscan oyj-a shs (HKSAV) Details

HKScan Oyj produces, markets, and sells pork, beef, poultry and lamb products, processed meats, and convenience foods to the retail, food service, industrial, and export customers. The company sells its products under the HK, Kariniemen, Tamminen, Kivikylän, Portti, Scan, Pärsons, Rose, Rakvere, Tallegg, Rigas Miesnieks, Jelgava, and Klaipedos Maistas brand names. It operates in Finland, Sweden, Estonia, Latvia, Lithuania, Poland, Denmark, the United Kingdom, the Russian Federation, and Germany. HKScan Oyj exports its products to approximately 50 countries. The company was founded in 1913 and is headquartered in Turku, Finland.

8,328 Employees
Last Reported Date: 08/5/15
Founded in 1913

hkscan oyj-a shs (HKSAV) Top Compensated Officers

Chief Executive Officer, President and Member...
Total Annual Compensation: €639.0K
Compensation as of Fiscal Year 2014.

hkscan oyj-a shs (HKSAV) Key Developments

Hkscan Corporation Invests in Growth with New Production Facility in Rauma, Finland

HKScan Corporation announced that the company is pursuing its strategy of profitable growth. The Board of Directors has decided that Rauma will be the location of a new HKScan production facility specializing in poultry products. The investment is valued at approximately EUR 80 million, and the new facility is scheduled for completion approximately at the end of 2017. The project will rank among the most significant production-related investments in HKScan history so far. Innovative Kariniemen products for home and export markets: The added capacity and optimized technology enabled by the investment will allow the group to develop innovative Kariniemen product novelties for the home and export markets. Faster processes will mark a further improvement in product quality. Complying with HKScan's Corporate Responsibility Programme, the new facility will adopt solutions to promote occupational health and safety and to maximize material, energy and environmental efficiency. Biosecurity related to risks of animal diseases will also improve. The investment will safeguard long-term employment opportunities in the meat industry in western Finland. It will have significant direct and indirect employment impact. After reviewing the alternatives, HKScan and its personnel have together agreed that the new facility will employ close to 300 meat experts when completed from the end of 2017 onwards. Related statutory negotiations were concluded last week in Eura. The headcount reduction will not exceed 239 person-work years. Now that the location of the facility has been decided officially, HKScan will apply for the necessary permits without delay in the hope of gaining approval from the authorities as soon as possible. Preliminary permit surveys have already been made. When the Rauma facility is completed approximately at the end of 2017 it will replace HKScan’s current production unit in Eura. It will remain in operation until the new facility opens. The investment will result in a non-cash write-down of the current Eura facility’s assets amounting to about EUR 11 million.

Hkscan Approves to Build New Production Unit in Western Finland

The HKScan Board of Directors supports Group management's proposal to construct a wholly new production unit in western Finland. The planned unit would specialize in poultry products and would replace HKScan's existing facility in Eura. The Group has revised its earlier plan to invest in expanding its production unit in Rakvere, Estonia. Instead of building a plant, the Group has decided to invest in improving the production efficiency of its current plants. It is also looking into contract manufacturing options and other alternative arrangements. If materialized as planned, the project would be completed by the end of 2017. Valued at roughly EUR 80 million, comprising a 25,000 m2 plant, infrastructure, production machinery, equipment and other related systems. The location of the plant has not yet been decided. Production would continue uninterrupted at the existing Eura unit until the new plant was commissioned. The planned investment would entail a non-cash write-off of assets amounting to about EUR 11 million resulting from a potential termination of production at the existing plant. HKScan's management took the decision to recommend building an entirely new plant as a preferred alternative after comparing the costs and risks associated with modernizing and expanding the existing facility in Eura. By harnessing the latest production technology, the new plant would bring a significant increase in productivity and enable development of new value-added products. Moreover, work safety and occupational wellbeing would improve significantly. The investment would also have a tangible impact on future production tasks, required skills and the number of employees. The anticipated change would affect the production personnel of the current Eura plant. The Group is also finalizing plans for the new facility and will continue assessing and comparing different location options. The plan is to complete the review process and secure all necessary permits as soon as possible during this autumn.

HKScan Oyj, H1 2015 Earnings Call, Aug 05, 2015

HKScan Oyj, H1 2015 Earnings Call, Aug 05, 2015


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