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2012-01-13 11:13:27 CET 2012-01-13 11:14:23 CET REGULATED INFORMATION Neomarkka - Company AnnouncementREKA CABLES STARTS CO-DETERMINATION NEGOTIATIONSNEO INDUSTRIAL OYJ STOCK EXCHANGE RELEASE January 13, 2012 at 12.00 REKA CABLES STARTS CO-DETERMINATION NEGOTIATIONS Neo Industrial's subsidiary Reka Cables Ltd starts co-determination negotiations concerning the entire personnel in Finland, totalling 231 people. The adjustments will be mainly temporary lay-offs with maximum length of 90 days and notice of termination for 9 persons at most. The detailed adjustment needs will be specified during the negotiations. The co-determination negotiations will start on Janyary 13, 2012 and are estimated to be concluded during week 4/2012. The purpose of the co-determination negotiations is to secure company's ability to compete, considering the seasonal fluctuation, market situation and sales development. Neo Industrial Plc Markku E. Rentto Managing Director Further information: Markku E. Rentto, Managing Director, tel. +358 207 209 191 www.neoindustrial.fi Neo Industrial's strategy is to invest mainly in industrial companies with similar synergic benefits. The aim of investments is with active ownership to develop the purchased companies and establish additional value. Returns are sought through both dividend flow and an increase in value. Neo Industrial's class B shares are listed on the NASDAQ OMX Helsinki Stock Exchange. Neo Industrial's business segments are Cable (Reka Cables, Expokabel, Nestor Cables), Viscose Fibers (Avilon) and Single Family Housing (Finndomo). |
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