Metso Pulp, Paper and Power concludes employee negotiations in Fabrics and Power businesses
(Thomson Reuters ONE) -
Metso Corporation's press release on June 17, 2013 at 12:00 p.m. local time
Metso's Fabrics and Power businesses have concluded the statutory negotiations
initiated on May 2, 2013. The process is part of the company's Pulp, Paper and
Power segment's two-year program to improve cost competitiveness.
As a result of the negotiations, the Fabrics business will reduce 60 jobs at its
Tampere, Finland plant by relocating their narrow filter fabric production to
Ovar in Portugal by the end of June 2014. The reduction need of personnel at the
Tampere plant is 32, taking into account internal transfers of personnel,
retirement arrangements and terminations of temporary contracts.
The Power business will cut a total of 88 jobs in Finland and is negotiating a
reduction of 70 jobs in Sweden. It will also reduce10 jobs in other countries.
The reductions will be carried out starting immediately and concluded by the end
of 2013.
The measures will affect all personnel groups. Initially the reduction need was
estimated to be 80 jobs in the Fabrics business and 175 jobs in the Power
business globally.
As a result of the reductions, Metso Pulp, Paper and Powers' annual costs are
estimated to decrease by approximately EUR 17 million. The cost cuts are
estimated to be realized in full starting in 2014. One-off restructuring costs
are estimated to be approx. EUR 4 million, the majority of which are estimated
to be booked during the second half of 2013.
In the filter fabric market, Metso's competitors have increased their capacity
and penetrated into the traditional filter fabric market, also increasing price
competition.
With the relocation of the narrow filter fabric production from Tampere to Ovar,
the Fabrics business responds to the tightening competition and improves its
cost competitiveness. The relocation also supports the streamlining and
specialization of the Fabrics business' production sites. The production of wide
filter fabrics will remain mainly in Tampere.
In the Power business the introduction of shale gas has lowered energy prices in
North America driving usage away from biomass and coal. In Europe, the renewable
regulatory support situation combined with the region's economical uncertainties
has caused a reduction in investments. Decision making in the pulp market has
also slowed down, leading to lower demand for pulp mill related energy
solutions.
Metso's pulp, paper and power professionals specialize in processes, machinery,
equipment, services, paper machine clothing and filter fabrics. Our offering and
experience cover the entire process life cycle including new production lines,
rebuilds and services.
As of January 2014, Metso's Pulp, Paper and Power business will serve its
customers with an even more focused and competitive approach as an independent,
listed company, Valmet Corporation*.
*Pending Metso EGM approval.
www.metso.com/pulpandpaper, www.metso.com/power, www.twitter.com/Metsoenergy
Metso is a global supplier of technology and services to customers in the
process industries, including mining, construction, pulp and paper, power, and
oil and gas. Our 30,000 professionals based in over 50 countries contribute to
sustainability and deliver profitability to customers worldwide. Metso's shares
are listed on the NASDAQ OMX Helsinki Ltd.
www.metso.com, www.twitter.com/metsogroup
For further information, please contact:
Reima Kerttula, Vice President, Fabrics business unit, Metso, tel.
+358 400 648 458
Kai Mäenpää, Managing Director, Metso Power Oy, Metso, tel. +358 20 14121
This announcement is distributed by Thomson Reuters on behalf of
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(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: Metso Corporation via Thomson Reuters ONE
[HUG#1709795]
Unternehmensinformation / Kurzprofil:
Datum: 17.06.2013 - 11:00 Uhr
Sprache: Deutsch
News-ID 270131
Anzahl Zeichen: 4533
contact information:
Town:
Helsinki
Kategorie:
Business News
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"Metso Pulp, Paper and Power concludes employee negotiations in Fabrics and Power businesses"
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