CP Clare in discussions with unions in Belgium.LEXINGTON, Mass.--(BUSINESS WIRE)--May 28, 1996--CP Clare Corporation (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on :CPCL CPCL Chennai Petroleum Corporation Limited CPCL Computer Program Change Library CPCL Computer Program Control Library CPCL Component Prioritized Collection List ), a recognized world leader in the communications components marketplace, announced today that the unions in its Belgian factory have informed the Company that they are considering industrial action. The unions have expressed concern about declining throughput levels as CP Clare shifts production to other factories. "Over the past few months we have found it more economical to produce dry reed products in our other factories," stated Arthur R. Buckland, President and Chief Executive Officer. "We do not expect industrial action in Belgium to have a major impact on our current business operations Business operations are those activities involved in the running of a business for the purpose of producing value for the stakeholders. Compare business processes. The outcome of business operations is the harvesting of value from assets ." -0- CP Clare Corporation is a leading provider of semiconductor and electromagnetic electromagnetic /elec·tro·mag·net·ic/ (-mag-net´ik) involving both electricity and magnetism. electromagnetic pertaining to or emanating from electromagnetism. relays, switches, and specialized spe·cial·ize v. spe·cial·ized, spe·cial·iz·ing, spe·cial·iz·es v.intr. 1. To pursue a special activity, occupation, or field of study. 2. electronic components to the world's foremost manufacturers of electronic communication equipment. CONTACT: Jacqueline D. Arthur Robert M. Palladino Chief Financial Officer Corporate Treasurer (617) 863-8700 Ext. 702 (617) 863-8700 Ext. 704 |
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