Nurminen Logistics Plc Stock exchange release 11 February 2014 at 2:00 p.m.
In order to adapt to changes in the market situation, Nurminen Logistics announced on 20 January 2014 its plans to reduce its terminal capacity and transfer terminal operations from the Niirala terminal to the Luumäki terminal. Due to the personnel impact of the planned changes, Nurminen Logistics launched co-determination negotiations concerning the terminal and forwarding personnel of the Niirala location.
The co-determination negotiations have now been concluded, and the company has decided to shut down the Niirala terminal and centralise its railway terminal operations to Luumäki. Project deliveries through the Niirala project field will be continued. As a result of the negotiations, Nurminen Logistics will permanently lay off a maximum of nine people in Niirala. The lay-offs will be carried out without delay. The company will support those being laid off to find new employment. According to preliminary estimates, Nurminen Logistics will record approximately EUR 0.2 million of expenses related to the arrangement to the first quarter of 2014. The arrangement will save EUR 0.4 million annually from 2015 onwards.
By centralising its railway terminal operations to the Luumäki terminal, Nurminen Logistics will adapt its operations to the market change taking place in Finland, in which railway wagons are more often loaded directly at the factory, and geographical routes change. The company’s strategy is to strengthen its position in domestic railway transport in Russia and nearby countries, railway transport between Finland and Russia, as well as in special and project transport. These changes will not affect this strategy.
Nurminen Logistics Plc Olli Pohjanvirta President and CEO For more information, please contact: Olli Pohjanvirta, President and CEO, tel. +358 10 545 2431.
DISTRIBUTION NASDAQ OMX Helsinki Major Media www.nurminenlogistics.com
Nurminen Logistics provides high-quality logistics services, such as railway transport, terminal services, forwarding, special and heavy transport and value-added services. The company has accumulated logistics know-how in three centuries, starting in 1886. Nurminen Logistics’ main market areas are Finland, the Baltic Sea region, Russia and other Eastern European countries. The company’s share is listed on NASDAQ OMX Helsinki.
