January 23, 2020 / 6:30 AM / in a month

BRIEF-LEM Holding: New Initiatives For Operations In Switzerland And In Malaysia

Jan 23(Reuters) - LEM HOLDING SA:

* ANNOUNCES NEW INITIATIVES FOR OPERATIONS IN SWITZERLAND AND IN MALAYSIA

* CHANGING ROLE OF HEADQUARTERS (HQ) RESULTS IN LOSS OF 21 JOBS IN GENEVA

* NEW GENEVA HQ PURPOSE BUILT FOR AROUND 250 EMPLOYEES, INCLUDING R&D DEPARTMENT, TO OPEN IN 2021

* SWISS HOLDING COMPANY TO TRANSFER FROM FRIBOURG TO GENEVA

* INVESTMENT IN MALAYSIA PRODUCTION FACILITY TO SERVE CUSTOMERS WORLDWIDE FROM 2021

* CHANGES TO ITS LEGAL STRUCTURE TO REDUCE COMPLEXITY AND SIMPLIFY INTERNAL PROCESSES

* MERGER OF LEM INTERNATIONAL SA AND LEM SWITZERLAND SA ON 30 JUNE 2020

* RELOCATION WILL NOT RESULT IN ANY JOB LOSSES, BUT RATHER RELOCATION OF SOME STAFF TO GENEVA

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