HONKARAKENNE OYJ Stock Exchange Release 11 November 2010 15:00 HONKARAKENNE OYJ TO INITIATE NEGOTIATIONS UNDER THE ACT ON CO-OPERATION WITHIN UNDERTAKINGS Honkarakenne Oyj initiates co-operation negotiations concerning all its personnel in Finland. According to a preliminary estimation by the company, the co-operation negotiations may result in temporary lay-offs lasting 90 days at most by the end of 2011. The lay-off plans concern all personnel groups. The co-operation negotiations which are initiated now continue the company's rationalisation measures, with the aim to secure the company's competitiveness despite seasonal variation and the development of sales. It is estimated that the co-operation negotiations will be concluded by early December. HONKARAKENNE OYJ Esa Rautalinko President and CEO Additional information: President and CEO, Esa Rautalinko, tel. +358 (0)400 740 997, esa.rautalinko@honka.com. DISTRIBUTION NASDAQ OMX Helsinki Oy Key media Financial Supervisory Authority {0>www.honka.com<}0{>www.honka.com
HONKARAKENNE OYJ TO INITIATE NEGOTIATIONS UNDER THE ACT ON CO-OPERATION WITHIN UNDERTAKINGS
| Source: Honkarakenne Oyj