Tamfelt Oyj Abp
TAMFELT TO START 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 February 19, 2009 at 3:30 p.m. TAMFELT TO START JOINT CONSULTATIONS AT JUANKOSKI PLANT The market situation of paper machine clothing continues weak. Due to economic and production reasons, a negotiation proposal according to the Act on Cooperation within Undertakings has today been given to all personnel representatives at Tamfelt Group Juankoski plant. The negotiations will discuss measures to adjust the operations at the Juankoski plant to the weakened demand situation. The need for personnel reduction is maximum 9 people, and any temporary lay-offs will be maximum 90 days in length. The target is to reach approximately 1.5 million euro savings on an annual level. The number of personnel at Tamfelt's Juankoski plant is 305. The joint consultations at Tamfelt's Tampere plant were concluded at the end of January. Tamfelt Corp. Reima Kerttula President and CEO For more information: Mr. Reima Kerttula, President and CEO, Tamfelt Corp., tel. +358 400 648 458, and Mr. Seppo Holkko, 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 19.02.2009 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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