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2009-03-19 12:00:00 CET 2009-03-19 12:00:02 CET REGULATED INFORMATION PKC Group Oyj - Company AnnouncementPKC STARTS CO-DETERMINATION NEGOTIATIONS IN WIRING HARNESS PRODUCTION IN KEMPELEPKC Group Oyj STOCK EXCHANGE RELEASE 19 MARCH 2009 1.00 p.m. PKC STARTS CO-DETERMINATION NEGOTIATIONS IN WIRING HARNESS PRODUCTION IN KEMPELE PKC Group Oyj has today issued a proposal to start co-determination negotiations concerning the wiring harness production in Kempele. Co-determination negotiations for closing the wiring harness production in Kempele and its effects to the personnel are initiated in Kempele unit due to production and financial reasons. Negotiations concern PKC Group Oyj's Kempele plant organisation's personnel, and may lead to termination of employment relationship of a maximum of 226 persons. In order to serve other units and customers, also the possibility to rearrange work and/or reorganise operations is considered, which might decrease the amount of terminations. Continuing wiring harness production in Finland can no longer be deemed feasible due to weak profitability. The Group has five wiring harness factories in Europe, all of which are underutilised. By reducing the number of production units we would cut down fixed costs. The goal of the proposed arrangement is to gain annual cost savings of about EUR 6 million. PKC GROUP OYJ Board of Directors Harri Suutari President & CEO For additional information, contact: Harri Suutari, President & CEO, PKC Group Oyj, +358 400 384 937 DISTRIBUTION NASDAQ OMX Main media www.pkcgroup.com The PKC Group offers design and contract manufacturing services for wiring harnesses, cabling and electronics. The Group has production facilities in Finland, Brazil, China, Mexico, Poland, Estonia and Russia, and employs about 5,600 people. The Group's net sales in 2008 totalled EUR 311.7 million. PKC Group Oyj is listed on NASDAQ OMX Helsinki Ltd. |
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