Outokumpu starts implementation of the efficiency improvements announced in April
(Thomson Reuters ONE) -
STOCK EXCHANGE RELEASE
16 May 2011 at 2.00 pm EET
Outokumpu started statutory negotiations on 6 April 2011 after announcing plans
to improve profitability, gain more efficiency as well as remove overlapping
activities in sales, supply chain and supporting functions in Europe. Statutory
negotiations have now been concluded in Finland and negotiations and
consultation process will be finalised in other major operating countries in the
next couple of weeks.
As a result, the job reductions in sales, supply chain and supporting functions
in Europe will be in the range of the original plan, which is some 350 jobs
globally by the end of 2011. Job reductions in Finland and Sweden are also
expected to be in the range of the original plans, about 90 jobs in Finland and
80 in Sweden. Cost-savings are estimated to be EUR 27 million per year as of
2012. Non-recurring costs of EUR 18 million related to the job reductions will
be booked in the second-quarter 2011 accounts.
Outokumpu operates in 34 countries and at the moment employs 8 100 people.
For further information, please contact:
Esa Lager, CFO, tel. + 358 9 421 2516
Päivi Lindqvist, Senior Vice President - Communications and IR, tel.
+358 9 421 2432, mobile +358 40 708 5351
OUTOKUMPU OYJ
Outokumpu is a global leader in stainless steel with the vision to be the
undisputed number one. Customers in a wide range of industries use our stainless
steel and services worldwide. Being fully recyclable, maintenance-free, as well
as very strong and durable material, stainless steel is one of the key building
blocks for sustainable future. Outokumpu employs some 8 000 people in more than
30 countries. The Group's head office is located in Espoo, Finland. Outokumpu is
listed on the NASDAQ OMX Helsinki.
www.outokumpu.com
ENG Improving efficiency 16052011:
http://hugin.info/3010/R/1516140/452444.pdf
This announcement is distributed by Thomson Reuters on behalf of
Thomson Reuters clients. The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and
other applicable laws; and
(ii) they are solely responsible for the content, accuracy and
originality of the information contained therein.
Source: Outokumpu Oyj via Thomson Reuters ONE
[HUG#1516140]
Unternehmensinformation / Kurzprofil:
Datum: 16.05.2011 - 13:00 Uhr
Sprache: Deutsch
News-ID 54696
Anzahl Zeichen: 2732
contact information:
Town:
Espoo
Kategorie:
Business News
Diese Pressemitteilung wurde bisher 231 mal aufgerufen.
Die Pressemitteilung mit dem Titel:
"Outokumpu starts implementation of the efficiency improvements announced in April"
steht unter der journalistisch-redaktionellen Verantwortung von
Outokumpu Oyj (Nachricht senden)
Beachten Sie bitte die weiteren Informationen zum Haftungsauschluß (gemäß TMG - TeleMedianGesetz) und dem Datenschutz (gemäß der DSGVO).
