Vacon completes negotiations concerning office personnel in Finland
(Thomson Reuters ONE) - Vacon Plc, Stock Exchange Release, 29 September 2009 at 10.00 am:Vacon Plc began negotiations concerning the office staff in itsFinnish operations on 14 September, examining the means available toadjust operations to weaker market conditions. As a result of thenegotiations, Vacon has decided to lay off 160 office employees forfixed periods. There will be no redundancies as a result of thepersonnel negotiations concluded today.Each person affected by the negotiations will be laid off for 7working days in 2009 and for a maximum of 30 days in 2010. It wasalso agreed that the need for lay-offs will be reviewed at quarteryear intervals.In addition to the lay-offs, agreement was also reached on voluntaryleave of absence and on exchanging holiday pay for time off. Thesavings it is hoped to achieve are roughly equal to the need toreduce costs by some 30 man-years during 2009 - 2010.The need to adjust the company's operations arises from the declinein orders and the difficulty in predicting market prospects in thenear future. With these measures Vacon Group aims to maintain areasonable profitability in difficult market conditions. The costsavings being aimed for will not affect customer service, productdeliveries or product development. "I hope that these measures aresufficient and that we can now focus on developing new products andbringing them on to the market. We have a clear strategy and we willsurvive this dip in the market," comments Vacon Plc President and CEOVesa Laisi.Vacon employs altogether more than 660 people in Finland, in Vaasa,Tampere and Vantaa.Vacon in briefVacon's operations are driven by a passion to develop, manufactureand sell the best AC drives in the world - and nothing else. ACdrives are used to control electric motors and in renewable energygeneration. Vacon has R&D and production units in Finland, the USA,China and Italy, and sales offices in more than 25 countries. In 2008Vacon had revenues of EUR 293.2 million and globally employed 1200people. The shares of Vacon Plc (VAC1V) are quoted on the main listof the Helsinki stock exchange.Driven by Drives, www.vacon.comVACON PLCFor further information please contact: * Mr. Vesa Laisi, President and CEO, phone: +358 (0)40 8371 510, between 1 pm and 2 pm (Finnish time, EET) * Mr. Sebastian Linko, Director, Corporate Communications, phone: +358 (0)40 8371 634, between 10 am and 1 pm (Finnish time, EET)DistributionNASDAQ OMX HelsinkiMain mediaFinancial Supervision AuthorityThis announcement was originally distributed by Hugin. The issuer is solely responsible for the content of this announcement.
Datum: 29.09.2009 - 09:00 Uhr
Sprache: Deutsch
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