MARTELA CORPORATION Stock exchange release 9 January 2014 at 10.00 a.m.
MARTELA INITIATES CO-OPERATION NEGOTIATIONS TO IMPROVE SUPPLY CHAIN EFFICIENCY
Martela has today convened a meeting for statutory co-operation negotiations concerning Martela Corporation.
The negotiations has been convened because the company has a need to improve the operation efficiency by rearranging its production and to adjust the cost level better match against the anticipated demand during 2014. The rearrangements mean in practice the production transfers between different Martela production units located in Nummela (Finland), Riihimäki (Finland) and Warsaw (Poland).
The production rearrangements are part of the Group’s savings program. The total program is targeting an annual cost saving of approximately EUR 6 million and the savings will be realized by the full effect during the year 2015. The planned actions announced today represents the share of approximately EUR 1.5 million out of the total savings.
The negotiations concern blue collar employees in Martela’s Finnish production units located in Nummela and Riihimäki. The company has in these units today totally 120 blue collar employees. Negotiations may lead to the maximum reduction of 9 persons and temporary lay-offs of personnel for a maximum of 90 days.
Heikki Martela, Managing Director, tel +358 50 502 4711
Markku Pirskanen, CFO, tel +358 40 517 4606
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