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2008-06-16 14:10:00 CEST 2008-06-16 14:10:00 CEST REGLERAD INFORMATION Wulff-Yhtiöt Oyj - Company AnnouncementENTRE MARKETING, SUBSIDIARY OF WULFF-GROUP PLC TO START COOPERATION NEGOTIATIONSWULFF-GROUP PLC STOCK EXCHANGE RELEASE JUNE 16, 2008, AT 3.10 PM ENTRE MARKETING, SUBSIDIARY OF WULFF-GROUP PLC TO START COOPERATION NEGOTIATIONS Entre Marketing Ltd, a subsidiary of Wulff-Group, will initiate a plan of action regarding personnel in order to enhance achieving its financial and strategic goals. Along with the plan of action, Entre will initiate cooperation negotiations concerning possible staff cuts due to production-related and financial issues, as well as business reorganisation. The cooperation negotiations will focus on trade fair sales and design department and project unit. The estimated need for staff reduction is seven people at most. Entre Marketing Ltd's net sales account for some 10% of Wulff-Group's consolidated net sales. Entre Marketing's operations have been unprofitable in 2007 and during 2008. The cooperation negotiations will be carried out in compliance with the cooperation act, and they are expected to be concluded in the middle of July. The aim of the negotiations is to secure the company's competitiveness and operational viability in the future. Wulff-Group Plc's CEO Heikki Vienola: ”As the market leader of its branch, it is important for Entre to constantly improve its customer promise. Serving customers in a more and more flexible manner requires business reorganization. Our Group's goal is profitable growth, and in order to support this goal, enhancing operations is necessary. I believe that the measures now initiated will have a positive impact on Entre's profitability.” Entre Marketing Ltd's operations focus on the design and implementation of international and domestic trade fairs, exhibitions and event marketing. Entre is Finland's market leader in its sector and in 2007 Entre had activities in 32 countries, preparing 740 stands for a variety of events. Wulff-Group Plc acquired a majority shareholding in Entre Marketing Ltd previously owned by Finpro ry and key personnel of the Entre group in May 2007. Entre Marketing Ltd employs 45 people at the moment. WULFF-GROUP PLC Heikki Vienola CEO www.wulff-group.com Further information: Heikki Vienola, CEO Tel. +358 9 5259 0050 or +358 50 65 110 e-mail: heikki.vienola@wulff.fi Sirpa Väisänen, IR Officer Tel. +358 9 5259 0050 or +358 400 943 243 e-mail: sirpa.vaisanen@wulff.fi Distribution: OMX Nordic Exchange Helsinki Key media www.wulff-group.com |
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