Fiskars
Fiskars plans EMEA restructuring program

Fiskars 

10.06.2013 09:00

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Fiskars Corp.       Stock Exchange Release           June 10 at 10.00 EET


Fiskars Corporation announces a restructuring program to optimize operations
and sales units in the EMEA region. The planned 'EMEA 2015' program is aimed at
improving the competitiveness and cost structure of Fiskars end-to-end supply
chain and aligning sales units in the region with the company's new business
model. 

The total cost of the program is estimated be around EUR 25-30 million for the
years 2013 and 2014, and is planned to be recorded as non-recurring charges. 

  -- A non-recurring cost of EUR 2.1 million related to re-location of Swedish
     sales office was already recorded in the first quarter 2013 results.
  -- In the second quarter 2013 results, Fiskars will record a EUR 0.7 million
     non-recurring cost related to the consolidation of the Group's glass
     manufacturing operations in Finland.

To further improve efficiency and quality in the Group's manufacturing
facilities, Fiskars is considering investments totaling over EUR 10 million in
connection with the planned two-year restructuring program. 

The targeted annual cost savings of the planned program are around EUR 9-11
million, subject to the full implementation of the program. The targeted cost
savings would be achieved gradually, and the majority of the savings are
expected to materialize in the Group's results in 2015. Planned measures will
be negotiated and communicated locally in each country when they become more
concrete. 

The planned EMEA 2015 program is a part of Fiskars' transformation into a
global consumer goods company. At the end of 2010, Fiskars launched a separate
EUR 50 million five-year investment program in the EMEA region to ensure
competitiveness through well-functioning processes and systems which enable
shared functions and structures. In 2012, Fiskars introduced a new sales
organization for the EMEA region, with two sales regions that consist of
country units focusing on promoting the entire offering in each market. 


FISKARS CORPORATION
Kari Kauniskangas
President and CEO

Further Information:
Ilkka Pitkänen, CFO, tel. +358 204 39 5054
Anu Ilvonen, Communications Director, tel. +358 204 39 5446


Fiskars is a leading global supplier of consumer products for the home, garden
and outdoors. The group has a strong portfolio of respected international
brands, including Fiskars, Iittala and Gerber. Founded in 1649 and listed on
NASDAQ OMX Helsinki, Fiskars is Finland's oldest company. Fiskars recorded net
sales of EUR 748 million in 2012, and employs some 4,100 people in over 20
countries. www.fiskarsgroup.com
News Source: NASDAQ OMX



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Language:     English
Company:      Fiskars
              
               
              Finland
Phone:        
Fax:          
E-mail:       
Internet:     
ISIN:         FI0009000400
WKN:          
 
End of Announcement                             DGAP News-Service
 
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