Martela Oyj
MARTELA’S CO-OPERATION NEGOTIATIONS CONCLUDED
Martela Oyj 19.05.2015 12:00 Dissemination of a Adhoc News, transmitted by DGAP - a service of EQS Group AG. The issuer is solely responsible for the content of this announcement. --------------------------------------------------------------------------- MARTELA CORPORATION Stock exchange release 19 May 2015 at 1.00 p.m. MARTELA'S CO-OPERATION NEGOTIATIONS CONCLUDED Martela has concluded a co-operation negotiations concerning all white-collar workers in Martela Corporation in Finland. As a result of the negotiations it has been decided to dismiss totally 15 persons. It has been also decided about the possibility to temporarily lay-off maximum 90 days if needed. Additional savings will be realized through normal retirements and other personnel deductions which will not be replaced but the operations will be re-organized. As a result of the actions it is estimated that the Corporation's cost level will decrease approximately EUR 1.2 million on the annual level by the end of the year 2016. The measures decided in the personnel negotiations were a response to the Group's need to improve its efficiency and competitiveness. The negotiations are part of Martela's savings program which aims to achieve an annual level cost savings of EUR 4 million. The savings programme will be implemented by the end of 2016, after which the full impact of the savings will be felt. MARTELA CORPORATION Heikki Martela CEO Additional information Martela Corporation Heikki Martela, CEO, tel +358 50 502 4711 Markku Pirskanen, CFO, tel +358 40 517 4606 Distribution NASDAQ OMX Helsinki Main news media www.martela.com News Source: NASDAQ OMX 19.05.2015 The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Media archive at www.dgap-medientreff.de and www.dgap.de --------------------------------------------------------------------------- Language: English Company: Martela Oyj Finland Phone: Fax: E-mail: Internet: ISIN: FI0009900385 WKN: End of Announcement DGAP News-Service ---------------------------------------------------------------------------
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