Tikkurila Oyj - Company Announcement

Tikkurila completes co-operation negotiations

Tikkurila Oyj
Stock Exchange Release
October 28, 2015 at 9 a.m. (CET+1)

Tikkurila has concluded the co-operation negotiations started in September with
all of Tikkurila Oyj's personnel in Finland, totaling about 600 persons. As a
result of the negotiations, a total of 41 persons, working in various functions
of the company, will be dismissed. Of these personnel reductions, 16 employees
are white-collar workers and 25 are blue-collar workers.

The negotiations were initially expected to result in the reduction of 100
employees at the most. Tikkurila is supporting the employees affected through
trainings and re-employment schemes, among others.

The total number of employees dismissed was clearly lower than originally
estimated due to solutions found during the negotiations. The negotiated outcome
included an agreement to commence local collective bargaining on flexible
working time allowing for seasonal and other factors, and to modify staff
remuneration with a view to supporting the company's strategic objectives more
effectively.

The personnel reductions and related support activities are estimated to result
in non-recurring expenses of some EUR 1.5 million during the financial year
2015. On the other hand, Tikkurila Oyj will change certain benefits related to
the duration of the employment by the end of the year, which will decrease
future personnel related obligations.

Tikkurila Oyj's Vantaa site produces and sells decorative paints and industrial
coatings for both the Finnish market as well as for export to Russia and other
countries. About half of Tikkurila Oyj's revenue relates to exports. The target
is to adjust the Finnish personnel to fit current volume level, and to find new,
more flexible ways to introduce products and services that fit customers' needs.
Moreover, the aim is to change operational and organizational structures and to
ensure company's cost competitiveness.


Tikkurila Oyj
Erkki Järvinen


For further information, please contact:

Tikkurila Oyj
Anna Saksi, HR Manager, Finland, tel. +358 50 562 1772, anna.saksi@tikkurila.com


Tikkurila is the leading paints and coatings professional in the Nordic region
and Russia. With our roots in Finland, we now operate in 16 countries. Our high-
quality products and extensive services ensure the best possible user experience
in the market. Sustainable beauty since 1862.

www.tikkurilagroup.com




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