Hungarian and Finnish Prime Ministers Inaugurate Nokia's "Factory of the Future" in Komarom.Business and Technology Editors HELSINKI, Finland--(BUSINESS WIRE)--May 5, 2000 Today, Prime Ministers Viktor Orban, Hungary and Paavo Lipponen, Finland inaugurated Nokia's newest mobile phone factory in Komarom together with Jorma Ollila, Nokia Chairman and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. . "In the rapidly growing mobile phone industry, efficient and flexible logistics processes and manufacturing capabilities are an important success factor, and the significance of the new Komarom site within Nokia's global logistics structure is very high. Today in Komarom we are celebrating the opening of Nokia's 10th mobile phone factory", said Jorma Ollila, Nokia Chairman and CEO. "Nokia has always had well established historical ties with Hungary, which is amongst Nokia's key countries today. Thanks to the central geographic location, positive corporate environment and the availability of a well-educated workforce, we have been able to expand our activities here", he added. Nokia's decision concerning the HUF HUF In currencies, this is the abbreviation for the Hungarian Forint. Notes: The currency market, also known as the Foreign Exchange market, is the largest financial market in the world, with a daily average volume of over US $1 trillion. 25 billion (apprx. EUR EUR In currencies, this is the abbreviation for the Euro. Notes: The currency market, also known as the Foreign Exchange market, is the largest financial market in the world, with a daily average volume of over US $1 trillion. 100 million) greenfield investment A Greenfield Investment is the investment in a manufacturing plant, office, or other physical company-related structure or group of structures in an area where no previous facilities exist. in Hungary was made in July 1998 on the basis of the growing need for additional mobile phone manufacturing capacity. Hungary and the Komarom region were chosen for the favourable geographic situation, the existing infrastructure and the presence of a well-educated workforce. The factory was operational in record time. It took only 8 months from the laying of the foundation stone in April 1999 to the production of the first mobile phone in January 2000. The Komarom factory already employs over 500 people. "The Komarom factory is called 'The Factory of the Future' not only because of the state-of-the-art equipment we use", said Jyrki Jalasto, managing director for Nokia Komarom. "The new, innovative production processes and methods used allow for more flexible and quicker production and help us better serve the needs of our customers." In Hungary, Nokia is one of the largest investors in the telecommunication sector today. It employs some 1000 people in its factory, offices and research and development units. Nokia is paving the way to the mobile information society with its innovative products and solutions. The company is the leading mobile phone supplier and a leading supplier of mobile, and broadband IP networks, related services as well as multimedia terminals. In 1999, Nokia's net sales Net Sales The amount a seller receives from the buyer after costs associated with the sale are deducted. Notes: This amount is calculated by subtracting the following items from gross sales: merchandise returned for credit, allowances for damaged or missing goods, freight totaled EUR 19.8 billion (USD USD In currencies, this is the abbreviation for the U.S. Dollar. Notes: The currency market, also known as the Foreign Exchange market, is the largest financial market in the world, with a daily average volume of over US $1 trillion. 19.9 billion). Headquartered in Finland, Nokia is listed on the New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of (NOK NOK In currencies, this is the abbreviation for the Norwegian Krone. Notes: The currency market, also known as the Foreign Exchange market, is the largest financial market in the world, with a daily average volume of over US $1 trillion. ), Helsinki, Stockholm, London, Frankfurt and Paris stock exchanges and employs more than 56,000 people. |
|
||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion