Teleste - Company Announcement

TELESTE COMMENCES CO-DETERMINATION NEGOTIATIONS

Turku, Finland, 2012-10-09 10:30 CEST (GLOBE NEWSWIRE) -- TELESTE CORPORATION  
STOCK EXCHANGE RELEASE            9.10.2012            AT 11:30 



TELESTE COMMENCES CO-DETERMINATION NEGOTIATIONS

Teleste is about to commence co-determination negotiations for finding the
steps needed to adapt the corporate operations to the tough-to-predict market
situation without compromising the company's strong potential for growth. 

In spite of the good growth prospects in the industry, many of our customers
have shifted their investment decisions in Europe's volatile market situation. 

The negotiations involve mainly layoffs and their duration may, for some
individuals, span more than 90 days. Moreover, adjustments are being prepared
in the Video and Broadband Solutions business area regarding certain foreign
units. The scope of the negotiations and the adjustment measures is about 400
people both in Finland and abroad. 

We reconfirm the prospects for Teleste Group published in connection with the
Interim Report of the second quarter. 

Teleste is an international technology group founded in 1954, which is
specialized in broadband video and data communication systems and services. The
Group is active in two business segments, Video and Broadband Solutions and
Network Services; in both fields, we are among the global leaders. Video is at
the core of our business activities, with a focus on the processing,
transmission and management of video and data for operators and public
authorities who provide various video-related information, entertainment and
security services to end-users. Video and Broadband Solutions specializes in
product solutions for broadband access networks, video service platforms and
video surveillance applications. Network Services deliver comprehensive network
service solutions including new construction, rebuilding, upgrading, planning
and maintenance services of cable networks. In 2011 the Group's net sales
totaled EUR 184 million and the Group employed 1,319 persons at the year-end.
The company has approximately 30 offices world-wide and over 90% of Teleste's
net sales are generated outside Finland. The company is listed on the NASDAQ
OMX Helsinki Ltd. 

For more information visit www.teleste.com.



TELESTE CORPORATION

Jukka Rinnevaara
CEO



ADDITIONAL INFORMATION:
CEO Jukka Rinnevaara, phone +358 2 2605 866 or +358 400 747 488

DISTRIBUTION:
NASDAQ OMX Helsinki
Main Media
www.teleste.com