HONKARAKENNE OYJ TO LAUNCH NEGOTIATIONS UNDER THE ACT ON CO-OPERATION WITHIN UNDERTAKINGS


HONKARAKENNE OYJ Stock Exchange Release 8 November 2012 at 1.15 PM

HONKARAKENNE OYJ TO LAUNCH NEGOTIATIONS UNDER THE ACT ON CO-OPERATION WITHIN UNDERTAKINGS

Honkarakenne Oyj is launching co-operation negotiations to reduce the number of locations with the aim of consolidating operations in Finland. The consolidation plans cover the company’s entire staff in Finland.

The present negotiations are aimed at improving the company's competitiveness through the adjustment of costs. The planned consolidation of operations is believed to significantly enhance the company's overall operations and improve its competitive position.

According to the company’s current estimates, the consolidation plans will lead to the reduction of 80 employees at most, temporary layoffs for a maximum of 90 days, outsourcing, part-time employment and the relocation of posts. The co-operation negotiations are estimated to be completed by the end of December 2012. The negotiations concern all personnel groups.

The consolidation plans may result in non-recurring write-offs and restructuring charges, to be determined in more detail in the course of the co-operation negotiations.

HONKARAKENNE OYJ

Mikko Kilpeläinen

President and CEO

 

For further information, please contact:

Mikko Kilpeläinen, President and CEO, tel. +358 50 542 884 , mikko.kilpelainen@honka.com

 

 

 

 

DISTRIBUTION

NASDAQ OMX Helsinki Oy

Key media

Financial Supervisory Authority

www.honka.com

 

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