Cetelco Mocoma

Cetelco Mocoma
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Cetelco (Stovring, Denmark), mobile telephone maker, will lay off employees and stop production temporarily due to stiff price competition. To compensate for this, a new agreement with Toshiba (Japan) will speed development and in 1995 will result in new, competitive GSM mobile telephones from Cetelco. Cetelco has so far warned of 25 lay offs at end-May 1994. In August/September 1994 the workforce will be further reduced by 120 people. Cetelco currently employs 260 people, of which 60 are development engineers. Cetelco was acquired by Hagenuk (Germany) in 1988. Cetelco has been an expensive investment for the firm, with losses to date reaching DKr130 mil. Article further considers Cetelco.

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