Nurminen Logistics Plc Stock exchange release 25 September 2014 at 9:00 a.m.
Nurminen Logistics is planning to implement cost savings by temporarily laying off all of its Finnish personnel for a maximum of 30 days during the last quarter of 2014 and in 2015. The cost-saving pressure is caused by the declining volume of Finnish imports and exports, as well as the moderate growth forecast of the Finnish economy. Furthermore, the Russian economy has declined and is estimated to decline further, which will impact Finnish exports in particular. The outlook for the turn of the year with regard to the sanctions between Russia and the EU is gloomy.
The Management Team of Nurminen Logistics has decided to take part in the savings programme and will give up two weeks’ salary during the last quarter of 2014. Correspondingly, the Board of Directors of Nurminen Logistics will give up 20% of their remuneration for 2014.
Nurminen Logistics Plc
Olli Pohjanvirta
President and CEO
For more information, please contact: Olli Pohjanvirta, President and CEO, tel. +358 10 545 2431.
DISTRIBUTION
NASDAQ OMX Helsinki
Major media
www.nurminenlogistics.com
Nurminen Logistics is a listed company established in 1886 that offers logistics services. The company provides high-quality railway transport, project transport services, special transport and forwarding and cargo handling services to its customers. The main market areas of Nurminen Logistics are Finland, Russia and its neighbouring countries.