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2009-03-03 13:00:00 CET 2009-03-03 13:00:04 CET REGULATED INFORMATION Larox Oyj - Company AnnouncementLAROX PREPARES OPERATIONAL ADJUSTMENTS AND STARTS EMPLOYEE NEGOTIATIONSLAROX CORPORATION COMPANY ANNOUNCEMENT 3 MARCH 2009 AT 2 PM LAROX PREPARES OPERATIONAL ADJUSTMENTS AND STARTS EMPLOYEE NEGOTIATIONS The global financial crisis has weakened the demand for Larox's products. Both the order backlog in the year turn and the number of incoming orders during the beginning of 2009 have been on a low level. Outlook for the near future is uncertain. Larox Corporation starts operational adjustments due to financial and production reasons and possible restructuring of operations. On 3 March 2009, according to mandatory employer-employee co-operation, the company issued an invitation to the representatives of the personnel to start negotiating on possible part-time arrangements, lay-offs, dismissals and related training, relocation and employment opportunities. Measures to adjust operations and actions, which aim at improved efficiency and cost savings, will be started in all Larox Corporation's units and subsidiaries in Finland and abroad. Larox Corporation For further information: Topi Karppanen President & CEO Phone. +358 (0) 20 7687210 Fax +358 (0) 20 7687277 topi.karppanen@larox.com www.larox.com Distribution NASDAQ OMX Helsinki Ltd., Central media Larox develops, designs and manufactures industrial filters and is a leading technology company in its field. Larox is a full service solution provider in filtration for separating solids from liquids. It supplies comprehensive aftermarket services throughout the lifespan of the Larox solution. Companies world-wide in mining and metallurgy, chemical processing and related industries benefit from the Larox technologies. Larox operates in over 40 countries and has over 590 employees. Larox Group is headquartered in Lappeenranta, Finland where the Group also has production facilities. Net sales in 2008 totaled 208 million euros, of which more than 93 % were generated by exports and the company's foreign operations. |
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