Kemira Oyj
Stock Exchange Release
January 16, 2009 at 9.00 am (CET+1)
Tikkurila will launch a Group-wide savings program in order to secure
the future competitiveness of its paints and coatings business.
Tikkurila aims to save EUR 25 million annually. The cost savings
program will involve the entire personnel of the Tikkurila Group
totalling approximately 3,800 persons. The program may lead to a
reduction of approximately 500 persons totally from the company's
payroll, including Tikkurila's all operating countries.
Tikkurila has announced today the commencement of co-determination
negotiations at its Vantaa site in Finland. The negotiations will
cover the entire workforce of 900 at the Vantaa site and may lead to
a reduction of 200 persons in Finland, including temporary personnel."In addition to personnel reductions, the negotiations will cover the
possibility for temporary lay-offs, pension schemes, reorganization
of tasks and retraining. Over the next few weeks, we will negotiate
the process with our employee representatives", says Eero
Katajavuori, Group Vice President, Human Resources & Legal, Tikkurila
Oy.
Tikkurila is responsible for Kemira's paints and coatings business.
It is the leading regional paints and coatings company in Finland,
Sweden and Russia and one of the leading in its field in the Baltic
countries, providing consumers and professionals with branded
products in approximately 40 countries. The product range consists of
decorative paints and coatings for the wood and metal industries. In
2007, the company had revenue of approximately EUR 625 million.
Kemira Oyj
Timo Leppä, Executive Vice President, Group Communications
For more information, please contact
Tikkurila Oy
Eero Katajavuori, Group Vice President, Human Resources & Legal
Tel. +358 9 8577 2853
Erkki Järvinen, President & CEO
Tel. +358 9 8577 2260
Kemira will be a focused company, the best in water and fiber
management chemistry.
In 2007, Kemira recorded revenue of approximately EUR 2.8 billion and
had a staff of 10,000. Kemira operates in 40 countries.
www.kemira.com
