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2009-05-04 11:00:00 CEST 2009-05-04 11:00:05 CEST REGULATED INFORMATION PKC Group Oyj - Company AnnouncementPKC GROUP'S CO-DETERMINATION NEGOTIATIONS HAVE ENDEDPKC Group Oyj Company Announcement 4 May 2009 12.00 noon PKC GROUP'S CO-DETERMINATION NEGOTIATIONS HAVE ENDED PKC Group has today finalised the co-determination negotiations concerning wiring harness production in Kempele. Negotiations were conducted on the basis of employer's initiative made on 19 March 2009, according to which the estimated need for personnel cuts totalled 226. As a result of the negotiations the need for personnel cuts was specified to 128 persons after rearrangement of work and/or reorganisation of operations. The dismissals will be done in two phases, first 87 at the start of May and the rest 41 by the end of September. The realized savings will amount to approximately EUR 5 million from the last quarter of this year. Rationalisation measures lead to approximately EUR 4.5 million in non-recurring expenses for the second quarter on this year. This has no effect on the previously published outlook for the future. PKC GROUP OYJ Harri Suutari President & CEO For additional information, contact: Harri Suutari, President & CEO, PKC Group Oyj, +358 400 384 937 DISTRIBUTION NASDAQ OMX Main media www.pkcgroup.com The PKC Group offers design and contract manufacturing services for wiring harnesses, cabling and electronics. The Group has production facilities in Finland, Brazil, China, Mexico, Poland, Estonia and Russia, and employs about 5,000 people. The Group's net sales in 2008 totalled EUR 311.7 million. PKC Group Oyj is listed on NASDAQ OMX Helsinki Ltd. |
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