Tamfelt Oyj Abp
TAMFELT ENDS JOINT CONSULTATIONS AT JUANKOSKI PLANT
Tamfelt Oyj Abp / Release of a Adhoc News, transmitted by DGAP - a company of EquityStory AG. The issuer is solely responsible for the content of this announcement. ---------------------------------------------------------------------- TAMFELT CORP. STOCK EXCHANGE RELEASE March 6, 2009 at 9.15 a.m. TAMFELT ENDS JOINT CONSULTATIONS AT JUANKOSKI PLANT Tamfelt Group has ended the joint consultations according to the Act on Co-operation within Undertakings concerning all personnel groups at the Group's Juankoski plant. In the negotiation proposal given on February 19, 2009, the estimated number for personnel reduction was 9 people, and the duration of the temporary lay-offs maximum 90 days. In the negotiations, the number of lay-offs was determined at 9. All of these will enter a retirement process. In addition, all personnel at the Juankoski plant will be temporarily laid off for 2-3 weeks in average during spring and summer. The possibility of further temporary lay-offs will be evaluated over the year according to the demand situation. The target of the measures is to achieve cost savings of approximately 1.5 million euro. The total number of personnel at Tamfelt's Juankoski plant is 305. Tamfelt Corp. Seppo Holkko Deputy to the CEO For additional information: Mr. Seppo Holkko, Deputy to the CEO of Tamfelt Corp, and President of Tamfelt PMC Corp., tel. +358 40 509 3319. DISTRIBUTION NASDAQ OMX Helsinki Ltd. Main media www.tamfelt.com Tamfelt is a world-leading supplier of technical textiles. The company's main products are clothing products for the paper and pulp as well as mining and chemical industries. The Group employs about 1,500 people and its net sales in 2008 were 164.7 million euro. Founded in 1797, the company is one of the pioneers of Finnish industry. News Source: NASDAQ OMX 06.03.2009 Financial News transmitted by DGAP ---------------------------------------------------------------------- Language: English Issuer: Tamfelt Oyj Abp Finland Phone: Fax: E-mail: Internet: ISIN: FI0009000947 WKN: End of News DGAP News-Service ---------------------------------------------------------------------------
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