Olvi Oyj - Company Announcement

OLVI HAS COMPLETED STATUTORY NEGOTIATIONS RELATED TO CHANGES IN FINNISH OPERATIONS

OLVI PLC         STOCK EXCHANGE RELEASE 29 JAN 2015 at 9:00 am

OLVI HAS COMPLETED STATUTORY NEGOTIATIONS RELATED TO CHANGES IN FINNISH
OPERATIONS 

The statutory co-operation negotiations related to Olvi plc's entire personnel
in Finland have been completed. The objective of the negotiations was to
reorganise operations and seek savings and efficiency measures in order to
respond to changes in the Finnish operating environment and to improve the
company's competitive ability in the long term. 

The outcome of the negotiations is that across the organisation in Finland,
efficiency measures will be taken and procedures will change. In total, this
will call for redundancies of 32 people. This will come true through pension
arrangements concerning 10 people, temporary layoffs of three people and
dismissal of 19 people. 

On 17 November 2014 Olvi plc announced that it would reorganise its Finnish
operations and initiate statutory co-operation negotiations concerning the
entire personnel in Finland, approximately 380 people. At the time of starting
the negotiations, the need for redundancies was estimated to be 35 people at
maximum. 

Changes in the Finnish operating environment have included weakened consumer
purchasing power, a change in purchasing behaviour, as well as continuously
intensified price competition in the industry. Furthermore, repeated excise tax
hikes, the share of tourist imports becoming substantial, as well as increased
restrictions on the trade and marketing of alcoholic products, have made it
more difficult to succeed in the Finnish market. 


Lasse Aho
Managing Director of Olvi plc
Phone +358 290 00 1050 or +358 400 203 600



DISTRIBUTION:
NASDAQ OMX Helsinki Ltd
Key media
www.olvi.fi

Attachments:

Olve042015.pdf