Outotec finalizes employee negotiations in Finland and closes EUR 70 million cost structure program
(Thomson Reuters ONE) -
OUTOTEC OYJ STOCK EXCHANGE RELEASE DECEMBER 30, 2016 at 9:00 AM
Outotec finalizes employee negotiations in Finland and closes EUR 70 million
cost structure program
Outotec has finalized the employee cooperation negotiations in different
locations in Finland related to the restructuring of the Metals, Energy & Water
segment (as announced on November 17, 2016) and filters manufacturing units (as
announced on November 1, 2016). As a result of the negotiations, approximately
50 employees will be made redundant in Finland. Depending on capacity
utilization, employees may also be temporarily laid off during 2017.
The negotiations to streamline certain units in Germany will continue in 2017.
The restructuring may lead to the reduction of approximately 100 permanent
positions in Germany. Some individual redundancies will also be made in other
countries.
The related costs and asset write-offs of the above restructuring will be taken
into account in Q4/2016.
EUR 70 million cost structure program closed and savings achieved
Outotec has achieved the targeted EUR 70 million annualized savings in fixed
costs compared to the Q3/2015 situation and closes its cost structure program
started in November 2015 (as announced on November 20, 2015).
The restructuring costs from the program were EUR 40 million. These were mainly
booked in Q4/2015 and Q1/2016, and the remaining part will be booked in Q4/2016.
650 jobs have been reduced as part of the program.
Restructuring costs of approximately EUR 28 million booked in Q4
Outotec will book up to EUR 28 million as restructuring costs in Q4/2016 from
the above two programs, mainly as adjusted items. These consist of personnel
related restructuring costs mainly in the Metals, Energy & Water segment and
asset write-offs related to premises, machinery and ICT systems.
For further information, please contact:
OUTOTEC
Jari Ålgars, CFO
Tel. +358 20 529 2007
Eila Paatela, Vice President, Corporate Communications
Tel. +358 20 529 2004, mobile +358 400 817198
Emails: firstname.lastname(at)outotec.com
DISTRIBUTION:
NASDAQ Helsinki
Main media
www.outotec.com
This announcement is distributed by Nasdaq Corporate Solutions on behalf of Nasdaq Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Outotec Oyj via GlobeNewswire
Unternehmensinformation / Kurzprofil:
Datum: 30.12.2016 - 08:00 Uhr
Sprache: Deutsch
News-ID 515253
Anzahl Zeichen: 2873
contact information:
Town:
Espoo
Kategorie:
Business News
Diese Pressemitteilung wurde bisher 321 mal aufgerufen.
Die Pressemitteilung mit dem Titel:
"Outotec finalizes employee negotiations in Finland and closes EUR 70 million cost structure program"
steht unter der journalistisch-redaktionellen Verantwortung von
Outotec Oyj (Nachricht senden)
Beachten Sie bitte die weiteren Informationen zum Haftungsauschluß (gemäß TMG - TeleMedianGesetz) und dem Datenschutz (gemäß der DSGVO).
