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HindustanTimes Sun,31 Aug 2014

Business

Nokia to sell Salo property to drugmaker Orion
Reuters
October 25, 2012
First Published: 17:41 IST(25/10/2012)
Last Updated: 17:43 IST(25/10/2012)

Finnish mobile phone maker Nokia is to sell part of a manufacturing plant it is closing in Salo, southwest Finland, to drugmaker Orion.



The property includes production facilities and warehouses, the companies said on Thursday. Nokia said in June it was ending production in Salo, cutting 850 jobs.

Nokia is seeking to bolster its cash position as it launches smartphones aimed at recapturing market share lost to Apple and Samsung.

The plant, the hub of Nokia's success story in 1990s, was the last major cellphone factory in western Europe.

Orion plans to open a new packing and logistics center in Salo next year and could employ around 100 people.


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