Raute - Company Announcement

Raute to initiate cooperation negotiations

Nastola, Finland, 2013-11-14 15:00 CET (GLOBE NEWSWIRE) -- RAUTE CORPORATION
STOCK EXCHANGE RELEASE 14 NOVEMBER 2013 at 4:00 p.m. 


RAUTE TO INITIATE COOPERATION NEGOTIATIONS

Raute Corporation has initiated negotiations in accordance with the Act on
Co-operation within Undertakings concerning measures to adapt its operations to
the declined order book and the operational and financial situation resulting
from the forecast low order intake in the next few months. The investment
decisions concerning two significant projects which are in the negotiation
phase and were forecast for the next few months have been moved forward by
several months from the previous estimate. 

The cooperation negotiations on adaptation measures concern Raute's entire
personnel in its Nastola and Jyväskylä units, a total of 355 employees. The
company estimates that the initiated negotiations concern temporary lay-offs of
at most 90 days. 

The changes in order intake forecast for the next few months will not have an
impact on Raute's previously published outlook for the whole of 2013. Net sales
are expected to decline from 2012. The operating profit is expected to weaken
significantly from the previous year but to remain positive. 

The outlook for the whole of 2014 will be included in the financial statements
release to be published on 13 February 2014. 


RAUTE CORPORATION
Tapani Kiiski
President and CEO


FURTHER INFORMATION:
Mr. Tapani Kiiski, President and CEO, mobile +358 400 814 148
Mr. Petri Strengell, Group Vice President, Operations, mobile +358 40 758 6580

DISTRIBUTION:
NASDAQ OMX Helsinki Ltd, main media, www.raute.com

RAUTE IN BRIEF:
Raute is a technology and service company that operates worldwide. Raute's
customers are companies operating in the wood products industry that
manufacture veneer, plywood and LVL (Laminated Veneer Lumber). The technology
offering covers machinery and equipment for the entire production process. As a
supplier of mill-scale projects Raute is a global market leader both in the
plywood and LVL industries. Additionally, Raute's full-service concept includes
technology services ranging from spare parts deliveries to regular maintenance
and equipment modernizations. Raute's head office is located in Nastola,
Finland. Its other production plants are in the Vancouver area of Canada, in
the Shanghai area of China, and in Kajaani, Finland. Raute's net sales in 2012
were EUR 101.3 million. The Group's headcount at the end of 2012 was 503. 

More information about the company can be found at www.raute.com