APETIT KALA OY COMMENCES COST-EFFICIENCY PROGRAMME

Thu, Feb 17, 2011 08:00 CET

LÄNNEN TEHTAAT PLC STOCK EXCHANGE RELEASE 17 FEBRUARY, 2011 AT 9.00 A.M.

Lännen Tehtaat plc’s subsidiary Apetit Kala Oy will commence a cost-efficiency programme concerning the Finnish seafood business in order to improve profitability. With the objective of improving cost-efficiency, the company will simplify the seafood business management model, streamline production management, sales and marketing, and make better use of Group synergies. The target of the action programme is to cut fixed costs dramatically.

The company will commence co-determination talks with personnel regarding white-collar positions in sales, financial administration and logistics in Apetit Kala Oy.

Apetit Kala’s aim is to increase its annual profit by approximately EUR 0.9 million through the planned action programme. The programme will take full effect at the beginning of the second half of the year.

Apetit Kala Oy and its subsidiary, Myrskylän Savustamo Oy, produce market and sell fresh fish products under the Apetit and Safu brands and under retailers’ private labels. Apetit Kala also sells fish, fish products and other fresh products at Kalatori service counters. Taimen Oy, an associated company of Apetit Kala Oy, and its subsidiaries specialise in fish farming and fry and fingerling production. The Group companies form the most efficient fresh-supply chain for rainbow trout on the Finnish market.

LÄNNEN TEHTAAT PLC
Matti Karppinen
CEO

Further information: CEO Matti Karppinen, tel. +358 40 8448 692

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APETIT KALA OY COMMENCES COST-EFFICIENCY PROGRAMME

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