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2009-11-24 09:31:00 CET 2009-11-24 09:31:01 CET REGULATED INFORMATION Raute - Company AnnouncementRAUTE SHIFTS TO A SHORTENED WORKING WEEK AT THE NASTOLA PLANT DUE TO WORK UNDERLOADRAUTE CORPORATION STOCK EXCHANGE RELEASE 24 November 2009 at 10:30 a.m. RAUTE SHIFTS TO A SHORTENED WORKING WEEK AT THE NASTOLA PLANT DUE TO WORK UNDERLOAD Negotiations at Raute Corporation in accordance with the Act on Co-operation within Undertakings, initiated on 6 October 2009, concerning the hourly workers of the Nastola plant on adjusting the company's operations to the weak remaining market situation and production underload, have been concluded. According to the reached negotiation solution, the Nastola plant will shift to a shortened working week, and temporary lay-offs of different duration will be continued. Also, it is possible that a part of the hourly workers will be laid off for the time being. The working hour arrangement and temporary lay-offs will be implemented as from December according to the workload. The negotiation solution follows the temporary lay-offs concluded in December 2008 and May 2009 and covers 135 hourly workers of the Nastola plant. The previously concluded adaptation measures concerning the other personnel are adequate for the time being. Raute Group employs altogether 530 persons, of which approximately 400 work in Finland. RAUTE CORPORATION Tapani Kiiski President and CEO FURTHER INFORMATION: Mr. Tapani Kiiski, President and CEO, Raute Corporation, mobile +358 400 814 148 Mr. Petri Strengell, Vice President, Technology and Operations, mobile +358 40 758 6580 DISTRIBUTION: NASDAQ OMX Helsinki Ltd, main media, www.raute.com RAUTE IN BRIEF: Raute is a technology company serving the wood products industry worldwide. Its most important customers are the plywood and LVL industries. The company is one of the world's leading suppliers of mill-scale projects to these customer industries. The total service concept also includes technology services, with which Raute supports its customers throughout the entire life cycle of their investments. Raute's head office and main production plant are in Nastola, Finland. Its other production plants are in the Vancouver area of Canada, in the Shanghai area of China, and in Jyväskylä and Kajaani, Finland. Net sales in 2008 were EUR 98.5 million and the number of personnel 573. More information on the company can be found at www.raute.com. |
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