DANE-ELEC Memory, manufacturer and distributor of digital products (Dram memory chips and storage and hand-held products), has announced its decision to terminate the assembly and commercialization of hard drives as part of the strategic overhaul of its industrial and commercial activities. With revenues of around ¤ 20 million in 2009, the segment's potential for profitable development is no longer considered to be sufficient.
The comprehensive range of hard drives (So by Dane-Elec) launched by Dane-Elec Memory in 2007 not only enabled the group to further penetrate the retail sector, but also reinforced its legitimacy in storage products and solutions. These strengths were put to valuable use in 2010 with the launch of myDitto, a new solution that allows users to access secure data from anywhere in the world and without the need for any particular configuration. Given the innovation and technological breakthrough that myDitto represents, Dane-Elec Memory will be focusing on its development and commercialization and pulling the plug on "traditional" hard drives.
This decision will lead to an immediate reduction in employee numbers at the group's manufacturing plant in Galway, Ireland. The full consequences for Dane-Elec Memory's resources and industrial structures as well as the financial implications therein will be disclosed at the start of 2011 at the same time as the group's strategic plan for the medium term.
Next publication: 2010 revenues on Monday 24 January, 2011 after the close of trading.
About DANE-ELEC Memory
Founded in France in 1985 by David Haccoun and Nessim Bodokh, Dane-Elec Memory is an international company headquartered near Paris. The company specializes in the manufacture and distribution of digital products: Dram memories and storage and hand-held products.
As a global player, Dane-Elec Memory operates in Europe, the United States, Asia, and the Middle East. The group has a manufacturing and assembly plant in Ireland, three assembly units in the United States, Ireland and France, and two packaging logistics platforms in the United States and France, making it extremely responsive to demand.
Dane-Elec Memory also has a hand-held product distribution subsidiary, Intervalle, in France.
In 2009, Dane-Elec Memory generated revenues of ¤ 180 million.
Dane-Elec Memory is listed on Segment C of Euronext Paris and has been awarded the label of Innovative Company by France's National Agency for Industrial Innovation, OSEO innovation.
ISIN: FR000036774, MNEMO: DAN, BLOOMBERG: DAN:FP, REUTERS: DEMY.PA.
All our financial information at www.dane-elec.frorwww.actus-finance.com
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