Stock Exchange Releases
Tulikivi Corporation is to start 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. Because of the ongoing economic crisis, the sales outlook in Tulikivi’s principal markets continues to be challenging. The company estimates that it needs to reduce personnel by approximately 50 people. In addition to any redundancies, the company will also be negotiating about layoffs in 2012. These adjustment measures are expected to result in non-recurring costs of about EUR 1 million, which will burden the result for 2011. The codetermination negotiations will take at least six weeks.
Distribution: NASDAQ OMX Helsinki Ltd
For more information: Tulikivi Corporation, FIN-83900 Juuka, www.tulikivi.com
– Matti Virtaala, Chairman of the Board, tel. +358 (0)207 636 666
– Heikki Vauhkonen, Managing Director, tel. +358 (0)207 636 555