Apetit Oyj - Company Announcement

Apetit: Co-determination negotiations concluded in fish products group

Apetit Plc    Stock exchange release 25 November 2014, 2:45 p.m.

The co-determination negotiations concerning the fish products group of the
Apetit Group's Food Business have been concluded. The outcome of the
negotiations is that Apetit is to concentrate its fish products group
operations in larger units in Kuopio and Helsinki and the Kustavi production
unit will be closed. The Turku office will also be closed. 

The closure of these locations will lead to the termination of employment for
12 people at Kustavi and 3 at Turku. The concentration of operations at Kuopio
and Helsinki will mean an additional 7 new positions in these locations. 

The negotiations were commenced in beginning of October as part of the
long-term profitability programme for the fish products group and covered a
total of 121 people in its business locations in Kuopio, Helsinki, Kustavi and
Turku. 

In the beginning of this year Apetit launched long-term profitability
programmes for the fish and fresh products groups of its Food Business in
Finland. Under the profitability programmes the business practices and
structures of purchasing, sales and the order-delivery chain are being revised
in order to achieve better profitability and sustainable competitiveness in
these product groups. Most of the programme measures are focused on the years
2014-2015, and they are expected to improve profitability gradually as of 2015.
The aim of the programmes is to achieve a reduction of EUR 4.5 million in
annual expenses. 

“The closure decisions now made are difficult, but they are necessary in order
to improve the profitability of the fish products group and to adopt a new,
simpler operating model. With the concentration now taking place we are aiming
for improved cost efficiency, more effective logistics and more systematic
development and control of operations,” explains Veijo Meriläinen, Apetit Plc's
CEO. 

On 8 October 2014, Apetit issued a stock exchange release on the progress of
the profitability programme for the fish products group and the commencement of
co-determination negotiations. 



Apetit Plc



Veijo Meriläinen
CEO



Further Information:
Veijo Meriläinen, CEO, tel. +358 10 402 00



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