NEGOTIATIONS CONCLUDED UNDER THE ACT ON CO-OPERATION WITHIN UNDERTAKINGS

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| Source: Honkarakenne Oyj
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HONKARAKENNE OYJ Stock Exchange Release 19 December 2013 at 4:30 PM

NEGOTIATIONS CONCLUDED UNDER THE ACT ON CO-OPERATION WITHIN UNDERTAKINGS

Honkarakenne Oyj has concluded co-operation negotiations launched 1 November 2013.

After concluding the co-operation negotiations the company has decided on efficiency actions including reduction of 24 clerical or managerial employees, reductions include pension schemes for two and possible outsourcing for one. In addition, the company has agreed on temporary lay-offs for a maximum of 90 days by the end of September 2014 concerning the entire staff in Finland.

The personnel reductions and efficiency activities will result in 0.6 million euros non-recurring costs in financial year 2013 as provision cost for dismissals.

HONKARAKENNE OYJ

Mikko Kilpeläinen

President and CEO

 

Further information:

Mikko Kilpeläinen, President and CEO, tel. +358 50 542 5884, mikko.kilpelainen@honka.com

 

 

 

 

DISTRIBUTION

NASDAQ OMX Helsinki Oy

Key media

Financial Supervisory Authority

www.honka.com