MARTELA CORPORATION Stock exchange release 3 February 2014 at 16.00
P.O. KORHONEN OY CEASES OPERATION
P.O. Korhonen Oy, a joint enterprise of Martela Corporation and Artek Oy Ab, is to cease operating, due to the unprofitability of its operations. In spite of various development and efficiency improvement measures, the company’s core business has remained unprofitable, and no change is expected in this in the longer term. P.O. Korhonen Oy’s Board of Directors has today, 3 February 2014, decided to apply for bankruptcy. The company’s principal creditors are its owners, Martela Corporation and Artek Oy Ab. At a future date, Martela will acquire some of the products manufactured by P.O. Korhonen Oy from outside subcontractors. The revenue of P.O.Korhonen Oy was in 2013 approximately EUR 3 million.
MARTELA CORPORATION
Heikki Martela
Managing Director
Additional information
Martela Corporation
Heikki Martela, Managing Director, tel. +358 50 502 4711
Markku Pirskanen, CFO, tel. +358 40 517 4606
Distribution
NASDAQ OMX Helsinki
Main news media
www.martela.com
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