RAUTE CORPORATION STOCK EXCHANGE RELEASE 16 March 2009 at 3.00 p.m.
RAUTE CORPORATION'S EMPLOYEE NEGOTIATIONS CONCLUDED
Negotiations at Raute Corporation in accordance with the Act on Co-operation
within Undertakings on adjusting the company's operations to the continued
lowered order book and the weak remaining market and demand situation, initiated
on 30 January 2009, have been concluded. The negotiations comprised the salaried
and senior salaried employees of the Finnish units, and the hourly workers of
the Jyväskylä unit. Other personnel of Raute Corporation in Finland is covered
by the negotiation result reached on 18 November 2008.
According to the negotiation result, all salaried and senior salaried employees
of the Finnish units will be temporarily laid off for a fixed period of at most
240 days, and a maximum of 60 salaried and senior salaried employees will be
laid off until further notice. All lay-offs will be implemented flexibly
according to workload in order to secure undisturbed customer service and
competitiveness.
The production activity of the Jyväskylä plant has been interrupted for the
present and all hourly workers of the unit, altogether 14 persons, have been
laid off until further notice.
Raute Group employs altogether 573 persons, of which 437 work in Finland.
RAUTE CORPORATION
Tapani Kiiski
President and CEO
FURTHER INFORMATION:
Mr. Tapani Kiiski, President and CEO, Raute Corporation, tel. +358 3 829 3560,
mobile +358 400 814 148
Ms. Arja Hakala, CFO, Raute Corporation,
tel. +358 3 829 3293, mobile +358 400 710 387
RAUTE IN BRIEF:
Raute is a technology company serving the wood products industry worldwide. Its
most important customers are the plywood and LVL industries. The company is one
of the world's leading suppliers of mill-scale projects to these customer
industries. The total service concept also includes technology services, with
which Raute supports its customers throughout the entire life cycle of their
investments. Raute's head office and main production plant are in Nastola,
Finland. Its other production plants are in the Vancouver area of Canada, in the
Shanghai area of China, and in Jyväskylä and Kajaani, Finland. Net sales in 2008
were EUR 98.5 million and the number of personnel 573. More information on the
company can be found at www.raute.com.
DISTRIBUTION:
NASDAQ OMX Helsinki Ltd, main media, www.raute.com