Helsinki, Finland, 2014-12-10 11:00 CET (GLOBE NEWSWIRE) --
MUNKSJÖ OYJ, STOCK EXCHANGE RELEASE 10 December 2014 at 11:00 a.m. CET
Munksjö Oyj: Munksjö plans to reorganise its sales organisation
Munksjö plans to simplify its sales organisation by reorganising certain sales functions. The reorganisation is subject to consultation and approval processes in accordance with local legislation in the countries affected. The overall model is one customer service hub per Business Area in Europe, and Group sales offices in Brazil, China, the US and Russia. By moving Customer service closer to supply and planning, pooling resources and avoiding sales office costs, Munksjö would improve profitability and the supply chain process would be more efficient.
As a result some regional offices may be closed or have a reduction in the number of employees. The following sales offices would be affected by the changes; Wavre in Belgium, Lingolsheim, Pont Eveque, and Fontenay-sous-Bois in France, Munich in Germany, Legnano and Turin in Italy and Spain.
The number of employees affected by the reorganisation would be approximately 30. The planned reorganisation would commence during 2015 and the expected annual savings are approximately EUR 1‑1.5 million of which a majority would be realised by 2016, adding to structural savings in the sales network realized already during 2014. The Group will record a non-recurring cost for the reorganisation of approximately EUR 2.5 million in the fourth quarter 2014 and the majority of the related cash outflow is expected to occur during 2015. The previously estimated costs in relation to the synergy and integration activities are lower than expected and as a result the group will record a non-recurring income of approximately EUR 1.5 million in the same quarter.
Munksjö Oyj
For more information, please contact:
Åsa Fredriksson, SVP HR and Communications, tel. +46 10 250 1003
Laura Lindholm, Investor Relations Manager, tel. +46 10 250 1026
Munksjö – Materials for innovative product design
The Munksjö Group is an international specialty paper company with a unique product offering for a large number of industrial applications and consumer-driven products. Founded in 1862, Munksjö is among the leading producers in the world of high-value added papers within attractive market segments such as Decor paper, Release Liners, Electrotechnical paper, Abrasive backings and Interleaving paper for steel. Given Munksjö’s global presence and way of integrating with its customers’ operations, the company forms a global service organisation with approximately 2,900 employees. Production facilities are located in France, Sweden, Germany, Italy, Brazil, Spain and China. Munksjö Oyj is listed on Nasdaq Helsinki and Nasdaq Stockholm. Read more at www.munksjo.com.