Stock Exchange Releases

Tulikivi Corporation starts codetermination negotiations


Tulikivi Corporation is starting codetermination negotiations in
order to balance out fluctuations in demand affecting the
company’s soapstone production. The negotiations concern Tulikivi
Corporation’s soapstone production and quarrying.

To level out variations in demand, Tulikivi Corporation will start
codetermination negotiations covering the company’s production and
quarrying employees and salaried employees in Juuka. The
negotiations primarily involve layoffs lasting under 90 days. It
is intended that the downscaling measures will be carried out in
the autumn. Layoffs will also take place at the Suomussalmi and
Kuhmo plants this autumn as a result of codetermination
negotiations held there.

The primary cause of the variations in demand is that the German
market has quieted down, 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.


Heikki Vauhkonen
Managing Director

Distribution: Helsinki Stock Exchange
Central Media

Additional information: Managing Director Heikki Vauhkonen, tel.
+358 207 636 555