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2008-07-09 14:00:00 CEST 2008-07-09 14:00:00 CEST REGULATED INFORMATION Wulff-Yhtiöt Oyj - Company AnnouncementENTRE MARKETING LTD, SUBSIDIARY OF WULFF-GROUP PLC TO CONCLUDE COOPERATION NEGOTIATIONSWULFF-GROUP PLC STOCK EXCHANGE RELEASE JULY 9, 2008, AT 3.00 PM ENTRE MARKETING LTD, SUBSIDIARY OF WULFF-GROUP PLC TO CONCLUDE COOPERATION NEGOTIATIONS The cooperation negotiations of Entre Marketing Ltd, a subsidiary of Wulff-Group Plc, have been concluded. The negotiations were initiated on 16 June 2008. Staff will be reduced due to production-related and financial issues, as well as business reorganisation. The negotiations were based on a proposal made by the employer. The cooperation negotiations focused on trade fair sales and design department and project unit. The need for staff reduction was estimated as seven people at most. As a result of negotiations, Entre Marketing will reduce its staff by four people. Entre Marketing Ltd's net sales account for some 10% of Wulff-Group's consolidated net sales. Entre Marketing's operations have been unprofitable in 2007 and during 2008. The cooperation negotiations have been carried out in compliance with the cooperation act, and the actions will be initiated immediately. The negotiations were carried out in order to secure the company's competitiveness and operational viability in the future. Entre Marketing Ltd's operations focus on the design and implementation of international and domestic trade fairs, exhibitions and event marketing. Entre is Finland's market leader in its sector and in 2007 Entre had activities in 32 countries, preparing 740 stands for a variety of events. Wulff-Group Plc acquired a majority shareholding in Entre Marketing Ltd previously owned by Finpro ry and key personnel of the Entre group in May 2007. Wulff-Group Plc is an office products market leader in Finland. It sells and markets office supplies, computer accessories, corporate image products, ergonomic products, and trade fair and event marketing services. In 2007 Wulff-Group recorded net sales of EUR 74.1 million. WULFF-GROUP PLC Heikki Vienola CEO www.wulff-group.com Further information: Heikki Vienola, CEO Tel. +358 9 5259 0050 or +358 50 65 110 e-mail: heikki.vienola@wulff.fi Sirpa Väisänen, IR Officer Tel. +358 9 5259 0050 or +358 400 943 243 e-mail: sirpa.vaisanen@wulff.fi Distribution: OMX Nordic Exchange Helsinki Key media www.wulff-group.com |
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