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2009-03-06 13:30:00 CET 2009-03-06 13:30:12 CET REGULATED INFORMATION Teleste - Company AnnouncementTELESTE EXPANDS CO-DETERMINATION NEGOTIATIONSTELESTE CORPORATION STOCK EXCHANGE RELEASE 6.3.2009 AT 14:30 TELESTE EXPANDS CO-DETERMINATION NEGOTIATIONS Due to the continued uncertain market situation Teleste expands the co-determination negotiations in a manner, which, for some persons, may require layoffs of over 90 days as well as redundancies of over 9 persons. The exact number of employees and office workers who may be facing layoffs and redundancies will be established in these co-determination negotiations. At the first stage, the relevant measures are estimated to involve flexible layoffs. The negotiations aim at finding solutions for adapting Teleste operations to the difficult-to-predict market situation without endangering the company's good growth opportunities. Teleste is an international technology group founded in 1954, which is specialized in broadband data communication systems and solutions. The group is divided into two Strategic Business Units: Broadband Cable Networks and Video Networks. Broadband Cable Networks serves cable operators and a major part of its business activities are handled through direct customer contact. Video Networks supplies solutions for optical signal transmission and video network management software solutions for video surveillance and a major part of its business is handled through system integrators. Both Business Units are among the leading providers in their market areas and are globally recognized for their know-how and ability to produce technically cutting edge solutions year after year. In 2008 the group's net sales totalled EUR 109 million and the group employed 677 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. Visit www.teleste.com for more information. TELESTE CORPORATION Jukka Rinnevaara CEO FOR MORE INFORMATION: CEO Jukka Rinnevaara, tel +358 2 2605 866 or +358 400 747 488 DISTRIBUTION: NASDAQ OMX Helsinki Media www.teleste.com |
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