Nastola, Finland, 2013-11-28 09:00 CET (GLOBE NEWSWIRE) -- RAUTE CORPORATION STOCK EXCHANGE RELEASE 28 NOVEMBER 2013 at 10:00 a.m.
COOPERATION NEGOTIATIONS CONCLUDED AT RAUTE
Negotiations in accordance with the Act on Co-operation within Undertakings, initiated on 14 November 2013, concerning adaptation measures have been concluded at Raute Corporation. Raute's operations will be adapted to the declined order book and the operational and financial situation resulting from the forecast low order intake in the next few months. The cooperation negotiations concerned Raute's entire personnel in its Nastola and Jyväskylä units.
The conclusion reached means temporary lay-offs in Raute's Nastola and Jyväskylä units. The lay-offs will start in December and they are implemented as temporary lay-offs for a fixed period of at most 90 days. All lay-offs will be implemented flexibly according to the workload in order to secure undisturbed customer service and competitiveness. Based on this conclusion, lay-offs may be implemented till the end of the year 2014. The amount and timing of lay-offs will be determined according to the development of the order book and workload.
Raute Group's total headcount is 531, of which about 380 persons work in Finland.
RAUTE CORPORATION Tapani Kiiski President and CEO
FURTHER INFORMATION: Mr. Tapani Kiiski, President and CEO, tel. +358 3 829 3560, mobile +358 400 814 148 Mr. Petri Strengell, Group Vice President, Operations, tel. +358 3 829 3523, mobile +358 40 758 6580
DISTRIBUTION: NASDAQ OMX Helsinki Ltd, main media, www.raute.com
RAUTE IN BRIEF: Raute is a technology and service company that operates worldwide. Raute’s customers are companies operating in the wood products industry that manufacture veneer, plywood and LVL (Laminated Veneer Lumber). The technology offering covers machinery and equipment for the entire production process. As a supplier of mill-scale projects Raute is a global market leader both in the plywood and LVL industries. Additionally, Raute’s full-service concept includes technology services ranging from spare parts deliveries to regular maintenance and equipment modernizations. Raute’s head office is located in Nastola, Finland. Its other production plants are in the Vancouver area of Canada, in the Shanghai area of China, and in Kajaani, Finland. Raute’s net sales in 2012 were EUR 101.3 million. The Group’s headcount at the end of 2012 was 503.
More information about the company can be found at www.raute.com
