Efore - Company Announcement

EFORE CONTINUES TO STREAMLINE ITS OPERATIONS

Espoo, Finland, 2014-02-13 07:55 CET (GLOBE NEWSWIRE) -- EFORE PLC    Stock
Exchange Release    February 13, 2014    at 8.55 a.m. 


Efore continues the profitability and efficiency improvement program it started
in March 2013. The new program is targeting to annual cost base reduction of at
least EUR 1.5 million by the end of this year. 

The company is reorganizing its operations in order to improve the
competitiveness and to match with the new structure as a result of the
acquisition last year. 

Reorganizing is expected to result in reduction of maximum 30 employments in
Finland, Sweden and China together. In Finland, in addition to permanent
layoffs, negotiations will be conducted on possible temporary layoffs affecting
all personnel groups. 

In addition to the above mentioned program the company has also reduced 34
employments in Tunisia and started in Italy a restructuring program that will
involve 51 employments targeting to annual cost base reduction of EUR 1.6
million by the end of this year. 

On December 31, 2013 Efore's total number of employees was 934.

EFORE PLC

Vesa Vähämöttönen
President and CEO

For further information please contact Mr.Vesa Vähämöttönen, President and CEO,
tel. +358 9 4784 6312 


DISTRIBUTION

Nasdaq OMX Helsinki Oy
Principal media


The Efore Group is an international company that develops and produces
demanding power products. Efore's head office is based in Finland, and its
production units are located in China and Tunisia. Sales and marketing
operations are located in Europe, the United States and China. In the fiscal
year ending in October 2012, consolidated net sales totalled EUR 78.1 million,
and the Group's personnel averaged 888. The company's shares are quoted on
Nasdaq OMX Helsinki Oy. 

www.efore.com