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2010-08-27 10:10:00 CEST 2010-08-27 10:10:01 CEST REGULATED INFORMATION Nurminen Logistics Oyj - Company AnnouncementNurminen Logistics to adjust its organization and cost structureNurminen Logistics Plc Stock Exchange Release 27 August 2010 at 11.10 am Nurminen Logistics to adjust its organization and cost structure Nurminen Logistics starts co-determination negotiations in order to adjust its organization and cost structure to match market situation. The company's cost savings goal is EUR 1.5 million. The adjustment need concerning personnel is approximately 25-30 people. The adjustment measures will concern the whole personnel. At the moment the company employs 342 people. As a part of adjustment measures a new Executive Board will be formed. Members of the new Executive Board are President and CEO Lasse Paitsola, Senior Vice President Jorma Kervinen, CFO Antti Sallilla, Senior Vice President Harri Vainikka and Senior Vice President Hannu Vuorinen. As a secretary of the Executive Board acts Group Controller Ville Kujansuu. The new Executive Board will start its work on 1 September 2010. Nurminen Cargo and Nurminen Heavy business units and their Executive Boards will be dissolved. Of the above mentioned EUR 1.5 million savings goal the company expects EUR 1.2 million of savings to be realized during 2011. As from year 2012 the savings are expected to be EUR 1.5 million annually. It is expected that the savings will cause a total of EUR 0.2 million non-recurring costs during 2010 and 2011. NURMINEN LOGISTICS PLC Lasse Paitsola President and CEO Further information: Mr Lasse Paitsola, President and CEO Tel. +358 10 545 2431 DISTRIBUTION NASDAQ OMX Helsinki Major Media www.nurminenlogistics.com Nurminen Logistics Plc Nurminen Logistics provides high-quality logistics services, such as railway transports, terminal services, forwarding and special and heavy transports. The company has collected logistics know-how from three centuries, starting in 1886. Nurminen Logistics' main market areas are Finland, the Baltic Sea region, Russia and other Eastern European countries. The company's share is listed on NASDAQ OMX Helsinki. |
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