Tulikivi Oyj - Company Announcement

Tulikivi Group to begin codetermination negotiations

Tulikivi Corporation is planning to reorganise its operations and adjust its
production capacity in order to improve profitability. 

TULIKIVI CORPORATION                                              Stock
exchange release 
        15 January 2013, 10.40 am 



Tulikivi Group to begin codetermination negotiations



Tulikivi Corporation is planning to reorganise its operations and adjust its
production capacity in order to improve profitability. 

The company is to begin codetermination negotiations covering all of the
Group's personnel. The current estimate is that any reorganisation of work
would mean up to 10 people being made redundant in the Group's Finnish
operations, in sales, customer service and production, and up to 40 people in
production being laid off until further notice. There will also be negotiations
about fixed-term layoffs of up to 90 days affecting all the remaining personnel
in the company. The company has approximately 380 employees. 

Tulikivi's negotiations concerning implementation of the layoffs will take
account of the demand situation during 2013. 


According to Managing Director Heikki Vauhkonen, Tulikivi's operating
environment will be unable to support any demand growth in 2013. Therefore,
profitability must be improved by reorganising operations and adjusting
capacity. In addition, demand will focus more strongly on the new hybrid
fireplaces, which are manufactured in a process that is considerably automated. 




TULIKIVI CORPORATION

Heikki Vauhkonen
Managing Director
Distribution:  NASDAQ OMX Helsinki
Key media
www.tulikivi.com

Further information:  Tulikivi Corporation, 83900 Juuka, www.tulikivi.com
- Matti Virtaala, Chairman of the Board of Directors, tel. +358 (0)207 636 666
- Heikki Vauhkonen, Managing Director, tel. +358 (0)207 636 555