Honkarakenne Oyj - Company Announcement

HONKARAKENNE OYJ TO INITIATE NEGOTIATIONS UNDER THE ACT ON CO-OPERATION

Helsinki, Finland, 2011-11-21 14:30 CET (GLOBE NEWSWIRE) --  HONKARAKENNE OYJ
Stock Exchange Release 21 November 2011, 15:30 

HONKARAKENNE OYJ TO INITIATE NEGOTIATIONS UNDER THE ACT ON CO-OPERATION

WITHIN UNDERTAKINGS



Honkarakenne Oyj initiates co-operation negotiations concerning all its
personnel in Finland. 



According to a preliminary estimation by the company, the co-operation
negotiations may result both in indefinite lay-offs and temporary lay-offs. The
number of persons subjected to indefinite lay-offs is estimated to be 70. For
those who are subjected to temporary lay-offs, the lay-offs are estimated to
last 90 days at most by the end of September 2012. The lay-off plans concern
all personnel groups. 



The co-operation negotiations which are initiated now continue the company's
rationalization measures, with the aim to secure the company's competitiveness
despite general economic development, seasonal variation and the development of
sales. 



It is estimated that the co-operation negotiations will be concluded in the
beginning of January 2012. 

HONKARAKENNE OYJ
Esa Rautalinko
President and CEO
Additional information: 
President and CEO Esa Rautalinko, tel. +358 (0)400 740 997, 
esa.rautalinko@honka.com or CFO, Mikko Jaskari, tel. +358 (0)400 535 337,
mikko.jaskari@honka.com 

DISTRIBUTION
NASDAQ OMX Helsinki Oy
Key media
Financial Supervisory Authority
www.honka.com