Hearing aid maker William Demant to shift production to Poland and Mexico

Danish William Demant has announced plans to shift production to Poland and Mexico from Denmark and the US as a cost-reduction strategy. The move will result in savings of USD 30 million, the company reported. The world's second-largest hearing aid maker, William Demant said it was also considering moving its R&D operations from Switzerland to Poland and Denmark. The company reported a stronger-than-expected rise in six month revenue to USD 880,368 million, but operating profits fell short of expectations as restructuring costs weighed. Listed on the Copenhagen Stock Exchange as one of the 20 most traded stocks in Denmark, William Demant is a  global company that develops, manufactures and sells hearing instruments, hearing implants, diagnostic instruments and personal communication devices.