Start of restructuring and development plan: initial savings planned of USD 4.4 million.
Bologna, 2nd May 2006 - Datalogic - a company listed in the Tech Star segment of the Milan Bourse and active in the design, production and distribution of barcode reader systems and RFID (radio frequency identification devices) - following completion of routine activities after the post-closing operation completed on February 28th 2006 - has initiated an important fast-track restructuring and development programme for its US subsidiary PSC Inc., based in Eugene (Oregon).
The plan will last approximately 12 months. Its initial purpose is to align the subsidiary's operating costs with the Datalogic Group's strategies, which have always been directed towards profitable and sustainable growth.
The process has started with the appointment of Bill Parnell as PSC's Chief Executive Officer and will continue in future months to involve various areas of the company in the various phases.
More specifically, as regards the Sales and Marketing areas, market strategies and product positioning will be revamped, whilst in the Purchasing and Production areas special attention will be dedicated to improvement of manufacturing efficiency and cost reduction.
In addition, during the second quarter of the current year, it is planned to reduce employee headcount by a total of 49 (out of the 740 regular employees). This will permit annual cost savings of over USD 4.4 million, i.e. of some 6% of PSC's operating costs. Estimated restructuring costs for this phase amount to some USD 1.6 million.
BILL PARNELL, 50 years old, is a veteran of the barcode industry and, in various positions, took part in PSC's success from 1979 to 2002. His return to the company in the top executive position paves the way for PSC's relaunch in line with the Datalogic Group's expectations.
"The Restructuring & Development Plan prepared by PSC Inc.'s management" - commented Roberto Tunioli, Datalogic's CEO - "impressed me for the speed and tight focus of the actions taken, with the stated target of energetically setting the company on course for constant and profitable growth, which has always been the main driver of Datalogic's development".