CALGARY, March 20 /CNW/ - Inventronics Limited (IVX:TSXV), a designer and manufacturer of custom metal enclosures for the communications, electronics and other industries in North America, today announced that it has recalled approximately 45 workers.
As previously announced, Inventronics reduced its total number of employees from 200 to 56 last year in response to the expiry of a long term contract. Sales orders for the first half of 2009 are higher than anticipated because of increased spending in the telecommunication sector. Based on orders received, sales for the first half of 2009 are expected to be about 70% of sales for the same period in 2008. Sales for the first half of 2008 were $11,023,000. At this time, this level of sales orders is not expected to continue beyond the second quarter.
Disclaimer
Certain statements in this press release, including the impact of the event on future sales, are forward-looking statements. The reader is cautioned that assumptions used in the preparation of such information, although considered reasonable by Inventronics at the time of preparation, may prove to be incorrect. Actual results achieved during the forecast period will vary from the information provided herein as a result of numerous known and unknown risks and uncertainties and other factors, many of which are beyond the control of Inventronics.
Inventronics' disclosure documents can be viewed under the Company's SEDAR profile at www.sedar.com.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
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