RAPALA VMC CORPORATION: CODETERMINATION NEGOTIATIONS COMPLETED.
(Thomson Reuters ONE) -
Rapala VMC Corporation
Stock Exchange Release
April 6, 2017 at 11:00 a.m.
RAPALA VMC CORPORATION: CODETERMINATION NEGOTIATIONS COMPLETED.
Rapala VMC Corporation announces the completion of codetermination negotiations
concerning Finland. Beginning of the negotiations was published on February
16, 2017. In Rapala lure factory in Vääksy the negotiations covered to transfer
parts of production to Group's factories in Russia and Estonia. Correspondingly
the transfer of production together with Group's declined profitability also
lead to reorganization of the work of white-collar personnel in Vääksy factory
as well as in the Helsinki headquarters. The aim of the negotiations was to find
solutions where the number of Rapala VMC Corporation's employees is in line with
scope and profitability of current operations.
The total number of employees affected by codetermination negotiations is 50 of
which five are covered with pension arrangements. The originally estimated
amount was approximately 45-53 employees in Rapala VMC Oyj in Finland. Employee
reductions relating to the codetermination negotiations of Rapala VMC
Corporation start on spring 2017. Rapala VMC Corporation is actively supporting
the employees affected through a change package that includes training and help
with re-employment.
Marttiini Oy knife factory's ongoing codetermination negotiations concerning
duplicate production functions in Rovaniemi and Pärnu, Estonia, factories have
not yet been completed. This planned reorganization of production could mean
maximum of 10 employees reduction in Rovaniemi.
The aim of the planned Finnish restructurings is to have about 1.5 MEUR annual
savings which will be realized on 2018. Non-recurring costs related to any
personal reductions, which are recorded in the year 2017, are estimated to be
about 0.2 MEUR.
Helsinki, April 6, 2017
RAPALA VMC CORPORATION
Jussi Ristimäki
Chief Executive Officer
For further information, please contact:
Rapala Group:
Jussi Ristimäki, Chief Executive Officer, tel. tel. +358 40 700 1344
Olli Aho, Investor Relations, tel. +358 9 7562 540
Rapala factory:
Arto Nygren, Executive Vice President - Lure Manufacturing, tel. +
358 40 5058 998
Distribution: Nasdaq Helsinki and main media
Rapala VMC Corporation ("the Group") is a leading fishing tackle company and the
global market leader in fishing lures, treble hooks and fishing related knives
and tools. The Group also has a strong global position in other fishing
categories and it is one of the leading distributors of outdoor, hunting and
winter sport products in the Nordic countries. The Group has the largest
distribution network in the industry. The main manufacturing facilities are
located in Finland, France, Estonia, Russia, Indonesia and the UK. The Group
brand portfolio includes the leading brand in the industry, Rapala, and other
global brands like VMC, Sufix, Storm, Blue Fox, Luhr Jensen, Williamson,
Dynamite Baits, Mora Ice, StrikeMaster, Marttiini and Peltonen. The Group, with
net sales of EUR 261 million in 2016, employs some 2 800 people in 40 countries.
Rapala VMC Corporation's share is listed and traded on the Nasdaq Helsinki stock
exchange since 1998.
Rapala VMC Corporation Stock Exchange Release April 6, 2017:
http://hugin.info/120091/R/2094195/791795.pdf
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: Rapala VMC Oyj via GlobeNewswire
Unternehmensinformation / Kurzprofil:
Datum: 06.04.2017 - 10:01 Uhr
Sprache: Deutsch
News-ID 534858
Anzahl Zeichen: 4449
contact information:
Town:
Helsinki
Kategorie:
Business News
Diese Pressemitteilung wurde bisher 226 mal aufgerufen.
Die Pressemitteilung mit dem Titel:
"RAPALA VMC CORPORATION: CODETERMINATION NEGOTIATIONS COMPLETED."
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Rapala VMC Oyj (Nachricht senden)
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