Helsinki, Finland, 2014-06-25 10:15 CEST (GLOBE NEWSWIRE) --
Suominen Corporation Press release 25 June 2014 at 11:15am EEST
SUOMINEN TO COMMENCE STATUTORY CODETERMINATION NEGOTIATIONS FOR TEMPORARY LAY-OFFS AT ITS NAKKILA PLANT IN FINLAND
Due to delays in commercialization of new customer projects, Suominen anticipates that the demand for nonwovens products supplied by its Nakkila plant in Finland remains lower than anticipated during the second half of the year.
To adjust the production volumes of the plant with the current business environment, Suominen Nonwovens Ltd initiates codetermination negotiations concerning potential temporary lay-offs involving its operations personnel as well as the employees working in administrative and support functions related with operations, in total approximately 75 people.
The potential temporary lay-offs would be implemented full time or part time in shorter periods as of August until December 2014, including the months in question. At most, the potential lay-off period would be 60 days per person.
The potential temporary lay-offs have no impact on the outlook statement provided by Suominen regarding the expected development of its net sales and operating profit in 2014.
For further information, please contact: Anu Heinonen, Vice President, Corporate Communications & IR, tel. +358 40 723 6279
Suominen in brief
Suominen supplies its industrial and retail customers with nonwovens and flexible packaging for use in consumer products worldwide. Suominen is the global market leader in nonwovens for wipes. The company employs more than 1,000 people in Europe and in the Americas. Suominen’s net sales in 2013 amounted to MEUR 433.1 and reported operating profit excluding non-recurring items was MEUR 18.3 (continuing operations). The Suominen share (SUY1V) is listed in NASDAQ OMX Helsinki Stock Exchange. Read more at www.suominen.fi.