TAMFELT ENDS JOINT CONSULTATIONS AT TAMPERE PLANT


TAMFELT CORP. STOCK EXCHANGE RELEASE January 28, 2009 at 3:37 p.m.

TAMFELT ENDS JOINT CONSULTATIONS AT TAMPERE PLANT 

Tamfelt Group has ended the joint consultations according to the Act on
Co-operation within Undertakings concerning all personnel groups at the Group's
Tampere plant. 

In the negotiation proposal given in December 2008, the estimated number for
personnel reduction was 160. In the negotiations, the final figure was
determined at 97. 25 of those to be laid off are office staff and 72 shop floor
workers. 43 of these will enter a retirement process. In addition, employees at
the Tampere plant will be laid off temporarily for 3-6 weeks in the average.
The target is to time the temporary lay-offs stepwise. The total amount of the
temporary lay-offs will be evaluated over the year according to the demand
situation. In the negotiations it was also concluded that fixed-time
employments will not be continued after they expire. At the moment, the Tampere
plant employs a total of 745 permanent employees. 
 
The measures explained above are intended to meet both the present weak demand
situation and the foreseeable long-term restructuring needs. These conditions
are influenced by the overcapacity in the business as well as the extremely
tight competitive situation. The target is to achieve cost savings of approx.
10 million euro on an annual level, in order to ensure competitiveness and to
secure company operations also in the future. The cost savings will not
materialize in full during 2009. 

The company will book a one-time expense in the first quarter for the
employments ending without work obligation. The expense is estimated at
approximately one million euro. 

 
 
Tamfelt Corp.
 
Reima Kerttula 
President and CEO
 
 
  
ADDITIONAL INFORMATION
Mr. Seppo Holkko, Deputy to the CEO, Tamfelt Corp., tel. +358 40 509 3319.

 
Tamfelt is a world-leading supplier of technical textiles. The company's main
products are clothing products for the paper and pulp as well as mining and
chemical industries.  The Group employs about 1,500 people and its net sales in
2007 were 167.5 million euro. Founded in 1797, the company is one of the
pioneers of Finnish industry. 


DISTRIBUTION
NASDAQ OMX Helsinki Ltd
Main media
www.tamfelt.com