Ingram Micro Restructuring Scandinavian Operations

SANTA ANA, Calif. (AP) — Ingram Micro Inc., which provides technology products and supply chain management services, said Friday it will sell or close segments in Denmark, Norway and Finland and focus its Scandinavian operations in Sweden in a move to boost profit.

The company expects annual savings to range from $100 million to $120 million from the moves.

German technology distributor Actebis Group is buying Ingram Micro's Danish distribution business for an undisclosed price. Ingram Micro said it will close its Norwegian and Finnish operations by the end of the second quarter.

IMI's data capture/point-of-sale business is not affected by the intended restructuring and will continue to have a presence throughout the Nordic area.

"While our operations in Denmark, Finland and Norway are small, generating approximately $450 million in aggregated revenues for the 2008 fiscal year, they are not meeting our requirements for profitability and return on invested capital," Chief Executive Greg Spierkel said in a statement.

IMI expects total related costs of $45 million to $65 million as a result of the moves.

Ingram Micro shares slipppd 9 cents to $11.75 in morning trading Friday.