Tulikivi Oyj - Company Announcement

Codetermination negotiations concluded at Tulikivi Corporation

TULIKIVI CORPORATION             STOCK EXCHANGE RELEASE

FI-83900 JUUKA                   11 March 2013  at  15.30







Codetermination negotiations concluded at Tulikivi Corporation



On 15 January 2013, Tulikivi Corporation announced that it was planning to
reorganise its operations and adjust its production capacity in order to
improve profitability. 

At the same time, Tulikivi started codetermination negotiations involving the
entire Group and all personnel groups with the aim of improving the company's
profitability and the efficiency of its operations. 

The company negotiated about possible redundancies affecting up to 10 people,
layoffs until further notice for up to 40 people, and fixed-term layoffs of up
to 90 days for the remaining staff. The codetermination negotiations were
concluded on 11 March 2013. 

The outcome of the negotiations was that 6 employees will be made redundant in
domestic sales, customer service and production, and 21 workers will be laid
off until further notice. In addition, the company may, until 30 June 2014,
implement fixed-term layoffs according to the demand situation. 

Managing Director Heikki Vauhkonen: “Since demand is not expected to increase
significantly in the near future, profitability has to be improved through
reorganisation and by adjusting capacity.” 



TULIKIVI CORPORATION



Heikki Vauhkonen

Managing Director



Distribution: NASDAQ OMX Helsinki

Key media

www.tulikivi.com





Additional information: Tulikivi Corporation, FIN-83900 Juuka, www.tulikivi.com

Heikki Vauhkonen, Managing Director, tel. +358 (0)207 636 555