BIOHIT BEGINS CO-DETERMINATION NEGOTIATIONS WITH PERSONNEL IN FINLAND
In order to improve profitability, Biohit Oyj has today decided to begin
negotiations with company personnel in accordance with the Co-operation
Act. As stated in the interim report published on 3 August 2007, the
Biohit Group's second-quarter net sales did not meet the company's expectations,
and the company's full-year result is forecast to remain below the level of the
previous year. The result was weakened by more moderate than expected
development in net sales in Asian markets, as well as increased fixed costs and
financing expenses.
Biohit is aiming to improve the Group's profitability during the remainder of
the year by intensifying sales and marketing, and lightening its cost structure
with regard to fixed costs. The company today decided to launch
co-determination negotiations. A maximum of 22 employees will be affected,
primarily those in Helsinki and in the diagnostics business, whose operating
result is still in the red. According to the preliminary plan, savings on
personnel costs would be made through lay-offs lasting until further notice,
which would begin this year.
Biohit Oyj
Osmo Suovaniemi
President & CEO
Further information:
Osmo Suovaniemi, M.D., Ph.D., Professor
President & CEO
Tel: +358-9-773 861
Mobile: +358-40-745 5605
Email: osmo.suovaniemi@biohit.com
Distribution:
Helsinki Exchanges
Financial Supervisory Authority
Press
http://www.biohit.com