NKT merges subsidiaries  

2002.06.11
NKT Group is to merge its subsidiaries Ionas and Cisilias

National daily Berlingske Tidende reports that NKT Group is to merge its subsidiaries Ionas and Cisilias into a new company, NKT Integration A/S. NKT supplies chips and passive optical components the tele industry. NKT Integration will have a workforce of around 70 people, with Cisilias' staff moving from the Technical University of Denmark to Ionas' premises in Birkerød, north of Copenhagen.

NKT says that the merger is designed to provide production and technical synergies that will improve its financial performance. The move is not expected to produce financial benefits in the current year, but will reduce future costs since the establishment of a production base for Cisilias will be avoided.

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