Stock Exchange Releases
TULIKIVI CORPORATION STOCK EXCHANGE RELEASE
FI-83900 JUUKA 11 March 2013 at 15.30
Codetermination negotiations concluded at Tulikivi Corporation
On 15 January 2013, Tulikivi Corporation announced that it was planning to reorganise its operations and adjust its production capacity in order to improve profitability.
At the same time, Tulikivi started codetermination negotiations involving the entire Group and all personnel groups with the aim of improving the company’s profitability and the efficiency of its operations.
The company negotiated about possible redundancies affecting up to 10 people, layoffs until further notice for up to 40 people, and fixed-term layoffs of up to 90 days for the remaining staff. The codetermination negotiations were concluded on 11 March 2013.
The outcome of the negotiations was that 6 employees will be made redundant in domestic sales, customer service and production, and 21 workers will be laid off until further notice. In addition, the company may, until 30 June 2014, implement fixed-term layoffs according to the demand situation.
Managing Director Heikki Vauhkonen: “Since demand is not expected to increase significantly in the near future, profitability has to be improved through reorganisation and by adjusting capacity.”
Distribution: NASDAQ OMX Helsinki
Additional information: Tulikivi Corporation, FIN-83900 Juuka, www.tulikivi.com
Heikki Vauhkonen, Managing Director, tel. +358 (0)207 636 555