Tulikivi to begin co-determination negotiations concerning layoffs of no more than 90 days in its soapstone production

9/18/2012 3:20 AM EST 

Tulikivi Corporation
Company Announcement

Tulikivi to begin co-determination negotiations concerning layoffs of no more
than 90 days in its soapstone production

TULKIVI CORPORATION                         STOCK EXCHANGE RELEASE

                                                                   September
18, 2012 at 10.20 



Tulikivi to begin co-determination negotiations concerning layoffs of no more   
 than 90 days in its soapstone production                                       
For production-related and economic reasons, Tulikivi Corporation is to begin   
 co-determination negotiations on temporary layoffs of no more that 90 days in  
 its soapstone production.                                                      
The temporary layoffs of no more than 90 days would affect soapstone production 
 and quarrying and the support activities for these at Juuka and Suomussalmi.   
 The co-determination negotiations concern approximately 250 persons. Tulikivi  
 will negotiate on the implementation of layoffs in accordance with the demand  
 situation during this fall and summer 2013.                                    
Managing Director Heikki Vauhkonen says that no significant growth is forecast  
 in the demand for soapstone fireplaces during the coming winter. For this      
 reason the plan is to continue the layoff measures in order to safeguard       
 profitability. The co-determination negotiations do not concern ceramic        
 fireplaces, interior stone products or the sauna business.                     
TULIKIVI CORPORATION                                                            
Heikki Vauhkonen                                                                
Managing Director                                                               
Distribution: NASDAQ OMX Helsinki Ltd                                           
Key media                                                                       
www.tulikivi.com                                                                
Further information:  Tulikivi Corporation, 83900 Juuka, www.tulikivi.com       
- Chairman of Board of Directors Matti Virtaala, tel. +358 (0)207 636 666       
- Managing Director Heikki Vauhkonen, tel. +358 (0)207 636 555
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Tulikivi to begin co-determination negotiations concerning layoffs of no more than 90 days in its soapstone production