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| Subject: KYCagreement to outsource productionEltech Electronics2002-12-05 | |
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Author: anonymous |
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Date Posted: 14:37:48 12/04/02 Wed In reply to: anonymous 's message, "UXC formely DVT---Cambodian ID. NSW licences---has agreement with KYC" on 05:55:12 12/04/02 Wed KEYCORP LIMITED 2002-12-05 ASX-SIGNAL-G HOMEX - Sydney +++++++++++++++++++++++++ Secure electronic transaction solutions provider Keycorp Limited (ASX: KYC) today announced a major streamlining of its manufacturing through an agreement to outsource production to Singapore-based group, Eltech Electronics Limited. The core skills of Eltech will deliver cost savings and help to reduce inventory levels. Under the agreement signed this week, Eltech Electronics Technology (M) Sdn Bhd will source and supply components for Keycorp's electronic payment terminals, manufacture the products and deliver them directly to customers or to Keycorp for its Australian customers. "The move to a full turnkey outsourcing services model is a fundamental shift in Keycorp's approach to manufacturing," explained Ian Ogilvy, General Manager, Access Devices at Keycorp. "There will bemajor efficiency improvements and cost savings throughout our supply chain, inventory management and production operations." Keycorp will outsource to Eltech the following: * Purchasing and supply chain management * Logistics and inventory management * Production planning and scheduling * Non-core engineering and design services. Keycorp will be able to leverage Eltech's greater buying power for bulk purchasing, thus reducing component costs. The amount of inventory held on Keycorp's balance sheet will significantly reduce over time as the program gains momentum. Most of the conversion is timed to occur in January after Keycorp completes its peak production loads for the December half year. From February onwards, Eltech will be Keycorp's prime manufacturing source. For further information about Keycorp see: http://www.keycorp.net or contact: Justine Burke PUBLIC RELATIONS AND PROMOTIONS MANAGER Keycorp Limited Tel: + 61 9414 5314 Fax: + 61 9415 1363 Email: jburke@keycorp.net Jeff Bird PRINCIPAL Bird & Hill Public Relations Pty Ltd Tel: + 61 9954 0555 Fax: + 61 9954 3944 Email: jeff@birdhillpr.com [ Next Thread | Previous Thread | Next Message | Previous Message ] |