Nurminen Logistics Plc Stock Exchange Release 27 August 2010 at 11.10 am
Nurminen Logistics to adjust its organization and cost structure
Nurminen Logistics starts co-determination negotiations in order to adjust its
organization and cost structure to match market situation. The company's cost
savings goal is EUR 1.5 million. The adjustment need concerning personnel is
approximately 25-30 people. The adjustment measures will concern the whole
personnel. At the moment the company employs 342 people.
As a part of adjustment measures a new Executive Board will be formed. Members
of the new Executive Board are President and CEO Lasse Paitsola, Senior Vice
President Jorma Kervinen, CFO Antti Sallilla, Senior Vice President Harri
Vainikka and Senior Vice President Hannu Vuorinen. As a secretary of the
Executive Board acts Group Controller Ville Kujansuu. The new Executive Board
will start its work on 1 September 2010. Nurminen Cargo and Nurminen Heavy
business units and their Executive Boards will be dissolved.
Of the above mentioned EUR 1.5 million savings goal the company expects EUR 1.2
million of savings to be realized during 2011. As from year 2012 the savings are
expected to be EUR 1.5 million annually. It is expected that the savings will
cause a total of EUR 0.2 million non-recurring costs during 2010 and 2011.
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 Eastern European countries. The
company's share is listed on NASDAQ OMX Helsinki.