OKMETIC OYJ STOCK EXCHANGE RELEASE 16 JANUARY 2009 AT 1 P.M.
OKMETIC BEGINS PERSONNEL NEGOTIATIONS - ESTIMATED EARNINGS FOR 2008
Okmetic Oyj initiates personnel negotiations in accordance with the Finnish Act
on Cooperation within Undertakings in Finland today. The negotiations aim to
secure the company's profitability in the weakened market situation that
currently prevails in the semiconductor industry in particular, by cutting
personnel costs and fixed costs.
The negotiations involve all personnel and the proposed actions include
adjustments to the work force and working hours. Similar measures will
also be instigated in the company's American subsidiary.
Of Okmetic's personnel, 319 are located in Finland, 36 in the US and 4 in
Japan. Okmetic will also adjust its ongoing investment programme to the
prevailing market situation.
In the interim report published on 30 October 2008, Okmetic estimated net sales
for 2008 to amount to 69 million euro and operating profit to account for
approximately 14 per cent of net sales. The company was unable to realise these
estimates due to the development of the US dollar exchange rate and the
increased price of electricity.
The net sales for 2008 are estimated to amount to 67.9 million euro and the
operating profit to account for 12.5 per cent of net sales. The company will
publish more detailed information on its 2008 performance in its financial
statements bulletin on 11 February 2009.
OKMETIC OYJ
Antti Rasilo
President
For further information, please contact:
President Antti Rasilo, Okmetic Oyj,
tel. +358 9 5028 0232, email: antti.rasilo@okmetic.com
Senior Vice President, Finance Esko Sipilä, Okmetic Oyj,
tel. +358 9 5028 0286, email: esko.sipila@okmetic.com
Distribution:
NASDAQ OMX Helsinki
Principal media
www.okmetic.com
OKMETIC IN BRIEF
Take it higher
Okmetic is a technology company which supplies tailor-made silicon wafers for
sensor and semiconductor industries and sells its technological expertise.
Okmetic provides its customers with solutions that boost their competitiveness
and profitability.
Okmetic's silicon wafers are part of a further processing chain that produces
end products that improve human interaction and quality of life. Okmetic's
products are based on high-tech expertise that generates added value for
customers, innovative product development and an extremely efficient production
process.
Okmetic has a global customer base and sales network, production plants in
Finland and the US and contract manufacturers in Japan and China.
Okmetic's shares are listed on NASDAQ OMX Helsinki under the code OKM1V. For
more information on the company, please visit our website at www.okmetic.com.
