MARTELA CORPORATION Stock exchange release 13 February 2014 at 10.00 a.m.
MARTELA’S CO-OPERATION NEGOTIATIONS CONCLUDED
Martela has concluded a co-operation negotiations concerning blue collar employees in Martela’s Finnish production units located in Nummela and Riihimäki.
In the negotiations it has been agreed about the rearrangements concerning 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 published in August 2013. 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 agreed actions announced today represents the share of approximately EUR 1.5 million out of the total savings.
As a result of the negotiations it has been decided to dismiss eight blue-collar workers. In addition it has been decided about temporary lay-offs which are maximum 90 days.
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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