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2009-09-02 09:00:24 CEST 2009-09-02 09:01:28 CEST REGULATED INFORMATION Okmetic Oyj - Company AnnouncementOKMETIC BEGINS PERSONNEL NEGOTIATIONSOKMETIC OYJ STOCK EXCHANGE RELEASE 2 SEPTEMBER 2009 AT 10.00 A.M OKMETIC BEGINS PERSONNEL NEGOTIATIONS Okmetic Oyj initiates personnel negotiations in accordance with the Finnish Act on Cooperation within Undertakings in Finland today. The negotiations aim to secure the company's profitability in the current tight market situation by cutting personnel costs and fixed costs. The negotiations involve all personnel and the proposed actions include adjustments to workforce and working hours. The number of permanent reductions of clerical workers in Finland is expected to be 20 employees. Part of the redundancies will affect fixed-term contracts. The negotiations on the lay-offs until further notice will begin among the manual workers. 30 employees are estimated to be laid off. Similar measures will also be instigated in the company's foreign subsidiaries. The redundancies in these units are 4 clerical workers on estimate. At the end of August Okmetic employed 340 people. 134 of the personnel were clerical workers and 206 manual workers. Of Okmetic's personnel 307 are located in Finland and 33 in the foreign subsidiaries. The objective of these actions is to cut the costs by over million euros annually. The effect of the savings will be noticeable as of the beginning of 2010. The profit estimate for the year 2009 presented in the interim report of 31 July 2009 stays unchanged. Net sales for the year 2009 are expected to amount to around 54 million euro. Operating profit is estimated to be slightly positive. Cash flow from operating activities is expected to be clearly positive. The market situation being as it is, there is still great uncertainty concerning the estimate on net sales and performance in 2009. The company will publish the next interim report on 27 October 2009. OKMETIC OYJ Antti Rasilo President For further information, please contact: President Antti Rasilo, Okmetic Oyj, tel. +358 40 746 1351, email: antti.rasilo@okmetic.com Senior Vice President, Finance Esko Sipilä, Okmetic Oyj, tel. +358 9 5028 0286, email: esko.sipila@okmetic.com Distribution: NASDAQ OMX Helsinki Principal Media www.okmetic.com OKMETIC IN BRIEF Take it higher Okmetic is a technology company which supplies tailor-made silicon wafers for sensor and semiconductor industries and sells its technological expertise. Okmetic provides its customers with solutions that boost their competitiveness and profitability. Okmetic's silicon wafers are part of a further processing chain that produces end products that improve human interaction and quality of life. Okmetic's products are based on high-tech expertise that generates added value for customers, innovative product development and an extremely efficient production process. Okmetic has a global customer base and sales network, production plants in Finland and the US and contract manufacturers in Japan and China. Okmetic's shares are listed on NASDAQ OMX Helsinki under the code OKM1V. For more information on the company, please visit our website at www.okmetic.com. |
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