Tulikivi Oyj - Company Announcement

Tulikivi Corporation concludes its codetermination negotiations

TULIKIVI CORPORATION             STOCK EXCHANGE RELEASE

FI-83900 Juuka                   22 December 2011, at 14.00



Tulikivi Corporation concludes its codetermination negotiations



On 31 October 2011, Tulikivi Corporation announced its plans to carry out
adjustment measures as the sales outlook in Tulikivi's principal markets
continues to be challenging due to the ongoing economic crisis. 

 At the same time, Tulikivi started codetermination negotiations involving the
entire Group and all personnel groups with the aim of improving the company's
profitability and the efficiency of its operations. In addition to any
redundancies, the company also discussed layoffs in 2012. The codetermination
negotiations were concluded on 22 December 2011. 

As a result of the negotiations 51 employees will be made redundant. It was
also decided that the company can implement layoffs of a maximum of 90 days in
2012. 

These adjustment measures are expected to result in non-recurring expenses of
about EUR 1 million, which will burden the result for 2011. As a result of
these adjustment measures, the company expects to achieve a positive operating
result in 2012. 



TULIKIVI CORPORATION

Heikki Vauhkonen
Managing Director



Distribution:  NASDAQ OMX Helsinki Ltd

Central Media

www.tulikivi.com



Further information: Tulikivi Corporation, FIN-83900 Juuka, www.tulikivi.com

- Matti Virtaala, Chairman of the Board, tel. +358 (0)207 636 666
- Heikki Vauhkonen, Managing Director, tel. +358 (0)207 636 555