Helsinki, Finland, 2011-06-28 19:20 CEST (GLOBE NEWSWIRE) -- Talentum Oyj COMPANY ANNOUNCEMENT June 28, 2011 at 8.20 pm
TALENTUM’S AND UNION OF PROFESSIONAL ENGINEERS IN FINLAND’S TEKNIIKKA&TALOUS CONTRACT TERMINATES
Union of Professional Engineers in Finland (UIL, Uusi Insinööriliitto) has terminated the contract regarding member subscriptions of Tekniikka&Talous published by Talentum to end on December 31, 2011. As the contract expires, Tekniikka&Talous will no longer be a member benefit for UIL members.
”UIL has been a good partner to us, but we will now start building a new kind of relationship to engineers” says Juha Blomster, the CEO of Talentum.
Talentum will contact the UIL members after summer with attractive subscription offers. Tekniikka&Talous, formerly named Insinööriuutiset, got Terho Puustinen as its new editor-in-chief last winter. In Puustinen’s time Tekniikka&Talous has already realized a redesign of content and layout. The redesign makes Tekniikka&Talous a newspaper for technology professionals and those interested in innovations even more strongly than earlier.
The expiry of UIL’s and Talentum’s contract has no effect on the member subscriptions of other unions, such as Academic Engineers and Architects in Finland – TEK or SEFE, The Finnish Association of Business School Graduates.
Talentum has about 40 000 subscribers through UIL. Tekniikka&Talous has a total circulation of about 96 000. The effect of the UIL-based subscription income in Talentum’s operating profit has been about 0,3 million euros annually. Furthermore, Talentum estimates that the expiry of the contract may also diminish advertising sales by a sum that is hard to evaluate.
The termination of the contract has no financial influences in 2011. The possible effects will realize starting from 2012.
Talentum Oyj
Juha Blomster
CEO
Further information:
Juha Blomster, CEO, tel. +358 40 342 4444
Distribution:
NASDAQ OMX Helsinki
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