NEO INDUSTRIAL PLC STOCK RELEASE 2 November 2015 at 5.00 pm NEO INDUSTRIAL PLC: SUBSIDIARY REKA CABLES LTD CONCLUDED CO-DETERMINATION NEGOTIATIONS CONCERNING OFFICIALS
Neo Industrial Plc´s subsidiary Reka Cables Ltd has concluded co-determination negotiations concerning officials. The negotiations are part of the efficiency improvement program and were announced on October 20, 2015.
As a result of the negotiations six persons are given the notice of termination and three persons are temporary laid off. The dismissals and one temporary lay-off concern officials in Hyvinkää. Two temporary lay-offs concern officials in Keuruu. The adjustments will be started during this week.
The aim of the efficiency improvement program of Reka Cables Ltd is to ensure competitiveness of the company in the long term.
Hyvinkää, 2 November 2015
Neo Industrial Plc
Ralf Sohlström
Mananging Director
Further information:
Ralf Sohlström, Mananging Director, tel. +358 40 770 2720
Neo Industrial's strategy is to invest mainly in industrial companies with similar synergic benefits. The aim of investments is with active ownership to develop the purchased companies and establish additional value. Returns are sought through both dividend flow and an increase in value. Neo Industrial's class B shares are listed on the NASDAQ Helsinki Stock Exchange. Neo Industrial's business segment is Cable Industry.