Outokumpu to improve efficiency
(Thomson Reuters ONE) -
STOCK EXCHANGE RELEASE
6 April 2011 at 9.00 am EET
Outokumpu plans to implement actions to improve profitability, gain more
efficiency and remove overlapping activities in sales, supply chain and
supporting functions in Europe.
The planned actions are also expected to result in a reduction of up to 350 jobs
of which up to 90 in Finland and up to 80 in Sweden. The negotiations with
personnel will be started according to local laws and regulations immediately.
In addition several parallel activities to improve profitability are currently
on-going in different countries. The annual cost-savings from all announced
actions are estimated to amount to approximately EUR 25 million in 2012.
CEO Mika Seitovirta: "Outokumpu has been loss-making the past three years and we
must improve our financial performance. Outokumpu needs to become more efficient
in its ways of working and serve customers better every day. Unfortunately the
planned actions are expected to have impact on our personnel as well."
Outokumpu operates in 34 countries and 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 06042011:
http://hugin.info/3010/R/1503826/438754.pdf
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Source: Outokumpu Oyj via Thomson Reuters ONE
[HUG#1503826]
Unternehmensinformation / Kurzprofil:
Datum: 06.04.2011 - 08:01 Uhr
Sprache: Deutsch
News-ID 53201
Anzahl Zeichen: 2717
contact information:
Town:
Espoo
Kategorie:
Business News
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