Efore - Company Announcement

EFORE’S PERSONNEL NEGOTIATIONS CONCLUDED

Espoo, Finland, 2013-04-22 15:15 CEST (GLOBE NEWSWIRE) -- 
Efore Plc  Stock exchange release       April 22, 2013 at 16.15 p.m.


Efore's personnel negotiations in Finland initiated on 5 March 2013, have been
concluded today. As a result of the negotiations, the total reduction in
personnel is globally 37 employees of which 7 in Finland. In addition, it was
agreed on temporary lay-offs affecting all personnel in Finland. Temporary
lay-offs can last from 0 days up to 2 months and they will take place during
1.5.2013 - 30.4.2014. Due to personnel reductions and other streamlining
measures the company estimates to reach annual cost base reduction of EUR 1.8
million by the end of this year. 

Jukka Pietarinen, EVP(Industrial Business Area) and a member of Efore's
Executive Management Team, has today decided to continue his career outside
Efore. As from April 23, 2013 new Executive Management Team and their
responsibilities are:  President and CEO Vesa Vähämöttönen, EVP Panu Kaila
(Operations and Programs), EVP Markku Kukkonen (Product Development and
Technology), EVP Olli Nermes (Finance and Administration) and EVP Alexander
Luiga (Sales and Marketing incl. telecommunication and industrial electronics
business areas as well as power products for electric vehicles). 

On March 31, 2013 Efore's total number of employees was 797 and 83 of them
worked in Finland. 

EFORE PLC

Board of Directors

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

DISTRIBUTION
NASDAQ OMX Helsinki Ltd
Main media

Efore Group

Efore Group is an international company which develops and produces demanding
power products. Efore's head office is based in Finland and its production unit
is located in China. Efore is present also in Sweden. In the fiscal year ending
in October 2012, consolidated net sales totaled EUR 78,1 million and the
Group's personnel averaged 888. The company's share is quoted on the Nasdaq OMX
Helsinki Ltd. 
www.efore.com




         Mr. Vesa Vähämöttönen, President and CEO, tel. +358 9 4784 6312