Nurminen Logistics Plc Stock Exchange Release 20 April 2009 at 1.00 pm
Nurminen Logistics Plc's co-determination negotiations concluded
Nurminen Logistics Plc has concluded the co-determination negotiations that were
initiated on 10 March 2009. The negotiations concerned the whole company. The
goal of the negotiations was to adjust the company's operations to match the
economic situation and weakened demand for the company's services.
Personnel reductions agreed in the negotiations concern 26 persons, of which 14
will be made redundant. In addition, the company's personnel will be temporarily
laid off for a month. The temporary lay-offs will be implemented in stages
during the year 2009. As a part of the adjustment measures the top executives of
the company have decided to forgo one month's pay from their salaries in 2009.
This arrangement concerns eight persons.
The cost savings of the adjustment measures based on the negotiations are
approximately EUR 1.5 million for the year 2009.
NURMINEN LOGISTICS PLC
Lasse Paitsola
President and CEO
Further information:
Mr Lasse Paitsola, President and CEO
Tel. +358 10 545
2431
DISTRIBUTION
NASDAQ OMX Helsinki
Major Media
www.nurminenlogistics.com
Nurminen Logistics Plc
Nurminen Logistics provides high-quality logistics
services, such as railway transports, terminal services, forwarding and special
and heavy transports. The company has collected logistics know-how from three
centuries, starting in 1886. Nurminen Logistics' main market areas are Finland,
the Baltic Sea region, Russia and other CIS countries. The company's share is
listed on NASDAQ OMX Helsinki.