Raute - Company Announcement

Cooperation negotiations concluded at Raute

Nastola, Finland, 2013-11-28 09:00 CET (GLOBE NEWSWIRE) -- RAUTE CORPORATION
STOCK EXCHANGE RELEASE 28 NOVEMBER 2013 at 10:00 a.m. 


COOPERATION NEGOTIATIONS CONCLUDED AT RAUTE

Negotiations in accordance with the Act on Co-operation within Undertakings,
initiated on 14 November 2013, concerning adaptation measures have been
concluded at Raute Corporation. Raute's operations will be adapted to the
declined order book and the operational and financial situation resulting from
the forecast low order intake in the next few months. The cooperation
negotiations concerned Raute's entire personnel in its Nastola and Jyväskylä
units. 

The conclusion reached means temporary lay-offs in Raute's Nastola and
Jyväskylä units. The lay-offs will start in December and they are implemented
as temporary lay-offs for a fixed period of at most 90 days. All lay-offs will
be implemented flexibly according to the workload in order to secure
undisturbed customer service and competitiveness. Based on this conclusion,
lay-offs may be implemented till the end of the year 2014. The amount and
timing of lay-offs will be determined according to the development of the order
book and workload. 

Raute Group's total headcount is 531, of which about 380 persons work in
Finland. 


RAUTE CORPORATION
Tapani Kiiski
President and CEO


FURTHER INFORMATION:
Mr. Tapani Kiiski, President and CEO, tel. +358 3 829 3560, mobile +358 400 814
148 
Mr. Petri Strengell, Group Vice President, Operations, tel. +358 3 829 3523,
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