Codetermination negotiations at Suominen Nonwovens Ltd completed
Tampere, Finland, 2012-07-02 07:30 CEST (GLOBE NEWSWIRE) --
Suominen Corporation Stock exchange release 2.7.2012 at 8.30 a.m.
Codetermination negotiations at Suominen Nonwovens Ltd completed
The codetermination negotiations that began at Suominen Nonwovens Ltd on 14 May 2012 within the framework of the performance improvement program of Suominen Corporation have been completed. The operations of Suominen Nonwovens Ltd’s production facility in Nakkila will be sharpened by closing down production lines and rationalizing administrative and supportive functions. The number of staff will be reduced by a maximum of 76 employees.
The redundancies will be implemented during summer 2012.
By cutting the production Suominen aims at considerable improvement in the profitability of its production facility in Nakkila. The closure of the thermobond production and one spunlace line will lead to a write down of about 3 million euros, which has no cash effect. The procedure is part of Suominen Corporation’s broader performance improvement program. The target is to achieve cost savings of the order of about two percentage points on net sales in 2012.
Helsinki, 2 July 2012
Suominen Corporation
Nina Kopola
President and CEO
For additional information, please contact
Mrs. Nina Kopola, tel. +358 (0) 214 3551
Suominen supplies industry and retailers with nonwovens, wet wipes and flexible packaging for use in consumer products that people use every day – through two business areas: Wiping and Flexibles.
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NASDAQ OMX Helsinki Ltd.
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www.suominen.fi
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