Stock Exchange Releases
Tulikivi Corporation has concluded the codetermination negotiations that were carried out in order to balance out fluctuations in demand affecting the company’s soapstone production. The negotiations concerned Tulikivi Corporation’s soapstone production and quarrying.
The negotiations settled on layoffs at Tulikivi Corporation’s plants and quarry in Juuka. The layoffs will last 2-4 weeks and are scheduled for the period from October to January.
The primary cause of the variations in demand that led to the codetermination negotiations is the sedateness of the German market, which is evident in the decline in exports of both fireplaces and lining stones.
A listed family company, Tulikivi Corporation and its subsidiaries form the Tulikivi Group, the world’s largest manufacturer of heat-retaining fireplaces. The Group is known for its Tulikivi soapstone fireplaces and natural stone products as well as its Kermansavi tiled stoves and utility ceramics. The Group’s revenue amounts to over EUR 80 million, about half of which is accounted for by exports. The Group owns seven production plants and employs more than 700 people.
Distribution: Helsinki Stock Exchange and Central Media
Additional information: Managing Director Heikki Vauhkonen, tel. +358 207 636 555