HONKARAKENNE OYJ Stock Exchange Release 7 October 2014 at 9 a.m.
HONKARAKENNE CONTINUES DEVELOPMENT PROGRAMME. HONKARAKENNE CONTINUES ITS EFFORTS IN RUSSIA, CIS-COUNTRIES AND ASIA
Honkarakenne Oyj is continuing development programme. The aim of this phase of programme is to achieve three million euro savings. Most of the improvement measures should be completed in 2014. The full impact of the programme will be apparent from the third quarter in 2015.
The implementation of the savings programme may result to non-recurring costs in 2014.
Honkarakenne continues its efforts in Russia, CIS countries and Asia. According to Honkarakenne’s view the growth potential in these market areas, especially in China, is significant. Despite the political situation the turnover in Russia and CIS countries has developed favourably this year.
"Developing the company’s operational effectiveness is a key factor in securing its long-term success. Developing sales and marketing, improving the network of importers and distributors and developing the design and architecture of company’s products will also be the focus of attention. To ensure growth in Finland we will put emphasis on the residential housing market and we will strengthen our position as market leader in leisure market. Our spearhead products will be our residential housing models which are designed according to the Honka healthy house concept”, says CEO of Honkarakenne Oyj, Mikko Kilpeläinen.
Honkarakenne initiates co-operation negotiations for its Finnish personnel concerning clerical and managerial employees, in order to improve operational efficiency. The negotiations may lead to lay-offs, dismissals and centralisation of workforce mainly from Tuusula to Karstula. According the preliminary estimate the reduction of workforce is maximum 25 persons.
HONKARAKENNE OYJ
Mikko Kilpeläinen
President and CEO
FURTHER INFORMATION
Mikko Kilpeläinen, President and CEO, tel. +358 50 542 5884, mikko.kilpelainen@honka.com
DISTRIBUTION
NASDAQ OMX Helsinki
Key media
Financial Supervisory Authority
www.honka.com