Nurminen Logistics Plc Stock exchange release 20 January 2014 at 2:00 pm
In order to adapt to changes in the market situation, Nurminen Logistics is planning to reduce its terminal capacity and transfer terminal operations from the Niirala terminal to the Luumäki terminal. The plan is to abandon indoor storage at the Niirala terminal. Project deliveries through the Niirala project field will be continued.
– Volumes and prices have not developed as we would wish at Niirala. The decline in the competitiveness of Finnish industry forces us to adapt our capacity to demand. Deliveries through Niirala to Russia and other CIS countries have decreased and the operations of the terminal have shown a loss for a long time. Also, the outlook for the future does not support growth in volumes. The transfer of the handling of specific products to Luumäki will improve our profitability in these product groups, says Olli Pohjanvirta, President and CEO.
According to preliminary estimates, the need for personnel reductions is at most nine person-years. Due to the personnel impact of the planned changes, Nurminen Logistics is launching co-determination negotiations concerning the terminal and forwarding personnel of the Niirala location.
The company’s strategy is to strengthen its position in domestic railway transport in Russia and nearby countries, railway transport between Finland and Russia, as well as in special and project transport. Planned changes in production structure will not affect this strategy.
Nurminen Logistics Plc
Olli Pohjanvirta
President and CEO
For more information, please contact: Olli Pohjanvirta, President and CEO, tel. +358 10 545 2431.
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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 accumulated logistics know-how in 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.