Tamfelt Oyj Abp - Company Announcement

TAMFELT TO START JOINT CONSULTATIONS AT TAMPERE PLANT

TAMFELT CORP. STOCK EXCHANGE RELEASE December 8, 2008 2:20 p.m.   

TAMFELT TO START JOINT CONSULTATIONS AT TAMPERE PLANT 

The economic and production environment of Tamfelt Group has changed
dramatically during the fall 2008. The market situation of paper machine
clothing and filter fabrics has weakened rapidly, and that is why a negotiation
proposal according to the Act on Co-operation within Undertakings has today
been given to all personnel representatives at Tamfelt Group Tampere plant 

The negotiations will discuss measures aimed at adjusting the Group operations
to the significantly weakened market situation. The measures may include
temporary lay-offs, part-time work, and lay-offs. The need for personnel
reductions impacts all personnel groups and the total number is estimated at
maximum 160 people. 

In addition to personnel reductions, the efficiency of operations will be
improved and cost effectiveness enhanced also through other measures. The
target is to achieve cost savings of approx. 10 million Euros on an annual
level, in order to ensure competitiveness and to secure company operations also
in the future. 


Tamfelt Corp.

Jyrki Nuutila
President and CEO



ADDITIONAL INFORMATION
Mr. Jyrki Nuutila, President and CEO of Tamfelt Corp., tel. +358 400 625 030,
and Mr. Seppo Holkko, President of Tamfelt PMC Corp., tel. +358 40 509 3319. 

Tamfelt is a world-leading supplier of technical textiles. The company's main
products are clothing products for the paper and pulp as well as mining and
chemical industries.  The Group employs about 1,500 people and its net sales in
2007 were 167.5 million euro. Founded in 1797, the company is one of the
pioneers of Finnish industry. 


DISTRIBUTION
NASDAQ OMX Helsinki Ltd
Main media
www.tamfelt.com