Nurminen Logistics Plc Stock exchange release 19 March 2013 at 5:20 p.m.
On 31 January 2013, Nurminen Logistics announced that it was planning structural changes to improve its competitiveness and boost the efficiency of its Finnish operations. The company started co-determination negotiations concerning all of its personnel in Finland, 270 employees in total. The negotiations were concluded on 19 March 2013.
As a result of the negotiations, the company has decided to reorganise and improve the efficiency of processes, streamline its management structure and consolidate operations. The adjustment requirement agreed upon in the negotiations concerns 26 employees, fewer than the previously reported figure of 28. Some of these employees can be transferred to new positions. The need for personnel reductions is estimated to be approximately 23 employees.
The cost savings associated with the adjustments implemented as a result of the co-determination negotiations are estimated at approximately EUR 700,000 in 2013 and EUR 1,100,000 from 2014 onwards. The non-recurring costs associated with the adjustments in 2013, approximately EUR 350,000, will be recorded in the first quarter of the year.
The planned changes will not affect the company’s strategy of strengthening its position in domestic railway transport in Russia and nearby countries as well as rail transport between Finland and Russia.
Nurminen Logistics Plc
Topi Saarenhovi
President and CEO
For more information, please contact: Topi Saarenhovi, President and CEO, tel. +358 10 545 2431
DISTRIBUTION
NASDAQ OMX Helsinki
Major media
www.nurminenlogistics.com
Nurminen Logistics provides high-quality logistics services, such as railway transport, terminal services, forwarding, special and heavy transport and value-added services. The company has gathered logistics know-how from three centuries, starting in 1886. Nurminen Logistics’ main market areas are Finland, the Baltic Sea region, Russia and other Eastern European countries. The company’s share is listed on NASDAQ OMX Helsinki.