Raisio plc, Stock Exchange Release, 31 October 2013 at 11:00 a.m.
RAISIO TO LAY OFF THE ENTIRE PERSONNEL OF ITS OIL MILLING INDUSTRY UNTIL FURTHER NOTICE
The employee co-operation negotiations that Raisio launched at the beginning of September 2013 for the re-evaluation of operational possibilities in the oil milling industry have now been completed. Raisio decided to continue oilseed crushing but to lay off the plant personnel until further notice in early 2014. The decision concerns 15 employees.
Raisio carried out the adjustment of the oil milling operations to the market situation last winter and made investments in production efficiency and flexibility. However, these measures were not sufficient to secure profitable business in the new situation. The EU’s decision to ban the use of neonicotinoids will further weaken the availability of Finnish seed and the crushing of imported seed is not economically feasible.
Oilseed plants were grown on approximately 50,000 hectares in Finland this harvest season while three years ago, the area under oilseed cultivation was nearly 160,000 hectares. In 2013, oilseed crop was approximately 80,000 tonnes, which is only a quarter of the Finnish oil milling industry’s need and does not enable profitable business in Finland. Possible agricultural subsidy solutions supporting the oilseed cultivation in Finland are very important for the future of the business.
RAISIO PLC
Heidi Hirvonen Communications and IR Manager tel. +358 50 567 3060
Further information: Vice President Leif Liedes, tel. +358 50 608 26
Raisio Group briefly
Raisio plc is an international specialist in plant-based nutrition. Raisio’s operations are divided into two divisions: Brands and Raisioagro. The Group’s key market areas are Finland, Great Britain, the Czech Republic, Russia, Ukraine, Poland, Estonia and Sweden. Raisio plc’s shares are listed on NASDAQ OMX Helsinki Ltd. In 2012, the Group's net sales totalled EUR 584 million and EBIT was EUR 35 million. The Group employs some 1,900 people. Raisio’s best-known brands are Benecol, Honey Monster, Elovena, Fox’s, Dormen, Juicee Gummee, Poppets and Benemilk.
Distribution NASDAQ OMX Key media www.raisio.com
