Stock Exchange Releases

Conclusion of the Tulikivi Group’s codetermination negotiations and their impact on earnings


The codetermination negotiations initiated at the Tulikivi Group
in the autumn were concluded today. The negotiations were carried
out to downsize personnel in line with prevailing market demand.

The negotiations settled on 67 redundancies, 10 of them clerical
employees. In addition, 26 employees will be laid off for the time
being. In relative terms, the most substantial personnel cuts were
carried out in the lining stone and utility ceramics businesses.

The manufacture of the company’s soapstone fireplaces will be
centralized at the Juuka plants. Natural attrition and the ending
of temporary contracts will further decrease the company’s
personnel count to about 600 (765 employees on 31 December 2006).

The Group’s sales in 2007 amounted to about EUR 70 million (EUR
82.1 million in 2006). The total cost of the reorganization of
functions is about EUR 1 million, which will be booked as a
provision in the 2007 financial statements. The company’s result
for 2007 will be weak. The financial statement bulletin will be
published on 6 February 2008.

Tulikivi Corporation

Heikki Vauhkonen
Managing Director

Distribution: OMX Nordic Exchange in Helsinki
Central media

Additional information: Tulikivi Corporation, 83900 Juuka, tel.
+358 207 636 000,
– Managing Director Heikki Vauhkonen