REORGANISATION OF THE OPERATIONS OF POLA
Atria Group plc STOCK EXCHANGE RELEASE 5 July 2004, 2:00 pm
REORGANISATION OF THE OPERATIONS OF POLARFARMI OY AND SUURUSREHU OY
Atria Group, the Itikka co-operative and Lihakunta will establish a new company,
A-Rehu Oy, for nation-wide marketing of cattle and pig fodder. Operations will
be launched on 1 September 2004. As a consequence, the corresponding operations
of Lihakuntaowned Polarfarmi Oy, and Itikka-owned Suurusrehu Oy will be shut
down. Atria will hold 52%, and both Lihakunta and Itikka 24% of A-Rehu Oy's
shares. The current employees of Suurusrehu Oy and Polarfarmi Oy will continue
at A-Rehu Oy. In 2003, the combined turnover of Polarfarmi Oy and Suurusrehu Oy
amounted to EUR 29 million.
The reorganisation will provide A-Rehu Oy with a stronger basis for operating as
a national fodder company. Bringing the existing skills and knowledge of fodder
marketing and feeding consultation under the same roof will boost operations and
competitiveness. The goal is to secure the future competitiveness of Finnish
meat and milk production through improved cost-efficiency of operations. The new
company will enable employees to better focus on and develop their special
skills with producers specialising in different fields of production.
The reorganisation will not affect the existing customer and co-operation
contracts of Suurusrehu Oy and Polarfarmi Oy.
Reijo Flink, Managing Director of Lihakunta and the Itikka co-operative, will
assume the duties of Managing Director of A-Rehu Oy during the first phase. The
Board of Directors will be chaired by Timo Komulainen from Nurmes. The company's
domicile will be Seinäjoki.
ATRIA GROUP PLC
Seppo Paatelainen
President
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