Teleste - Company Announcement

OUTCOME OF TELESTE CO-DETERMINATION NEGOTIATIONS

Turku, Finland, 2012-11-07 11:00 CET (GLOBE NEWSWIRE) -- TELESTE CORPORATION  
STOCK EXCHANGE RELEASE    7.11.2012 AT 12:00 



OUTCOME OF TELESTE CO-DETERMINATION NEGOTIATIONS

The Teleste negotiations have been concluded. As an outcome of these
co-determination negotiations, at the first stage, the Company's Finnish
personnel will be laid off for three weeks by the end of March 2013. This
lay-off involves approximately 375 people. The co-determination negotiations
also led to three notices of termination. The need for additional lay-offs will
be reviewed as required by the market situation. 

In combination with cost cuts, the agreed measures are designed to adapt
Teleste's operations to the difficult-to-predict market situation without
compromising the favorable growth potential. 

Teleste is an international technology group founded in 1954, which is
specialized in broadband video and data communication systems and services. The
Group is active in two business segments, Video and Broadband Solutions and
Network Services; in both fields, we are among the global leaders. Video is at
the core of our business activities, with a focus on the processing,
transmission and management of video and data for operators and public
authorities who provide various video-related information, entertainment and
security services to end-users. Video and Broadband Solutions specializes in
product solutions for broadband access networks, video service platforms and
video surveillance applications. Network Services deliver comprehensive network
service solutions including new construction, rebuilding, upgrading, planning
and maintenance services of cable networks. In 2011 the Group's net sales
totaled EUR 184 million and the Group employed 1,319 persons at the year-end.
The company has approximately 30 offices world-wide and over 90% of Teleste's
net sales are generated outside Finland. The company is listed on the NASDAQ
OMX Helsinki Ltd. 

For more information visit www.teleste.com.





TELESTE CORPORATION

Jukka Rinnevaara
CEO





ADDITIONAL INFORMATION:
CEO Jukka Rinnevaara, phone +358 2 2605 866 or +358 400 747 488

DISTRIBUTION:
NASDAQ OMX Helsinki
Main Media
www.teleste.com